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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows provided by (used in) operating activities:      
Net income (loss) $ 570,145 $ 1,313,339 $ 268,838
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Net realized (gains) losses on investments (372,138) (202,178) (107,462)
Net realized and unrealized (gains) losses on derivative instruments (2,521) (53,123) (29,886)
Amortization of premiums (discounts) on fixed maturities 193,482 194,824 153,849
(Income) loss from investment and operating affiliates (67,802) (46,072) (129,915)
Loss (gain) sale of subsidiaries (7,088) 0 666,423
Gain on sale of operating affiliate 0 (340,407) 0
Share based compensation 81,001 74,431 81,287
Depreciation and amortization 118,063 92,313 56,118
Accretion of deposit liabilities 43,984 43,633 11,195
Changes in:      
Unpaid losses and loss expenses 1,073,313 (211,831) (427,528)
Future policy benefit reserves (162,096) (278,818) (229,204)
Funds withheld on life retrocession agreements, net (223,516) (210,943) (218,144)
Unearned premiums 436,106 (528,214) 253,396
Premiums receivable (1,084,432) 156,168 15,248
Unpaid losses and loss expenses recoverable (360,223) (439,548) (44,688)
Ceded unearned premiums 70,529 237,017 (191,242)
Reinsurance balances receivable (174,126) 2,319 (17,736)
Deferred acquisition costs and value of business acquired (62,926) 126,455 303,998
Reinsurance balances payable 398,738 229,205 160,916
Deferred tax asset - net (41,641) (47,924) (33,735)
Derivatives 119,038 185,300 42,187
Other assets (26,673) 17,054 33,344
Other liabilities (78,422) 123,897 (147,744)
Other (65,548) 26,968 5,447
Total adjustments 345,192 (697,783) 694,346
Net cash provided by (used in) operating activities 915,337 615,556 963,184
Cash flows provided by (used in) investing activities:      
Proceeds from sale of fixed maturities and short-term investments 12,757,580 16,868,228 4,896,112
Proceeds from redemption of fixed maturities and short-term investments 3,847,709 3,751,174 3,601,793
Proceeds from sale of equity securities 848,779 664,735 571,410
Purchases of fixed maturities and short term investments (15,457,689) (19,718,064) (7,158,258)
Purchases of equity securities (1,103,447) (567,334) (445,504)
Proceeds from sale of affiliates 397,091 748,575 240,785
Purchases of affiliates (681,385) (280,856) (371,226)
Purchase of subsidiaries, net of acquired cash (92,893) (1,020,015) 0
Proceeds from sale of subsidiary 22,998 0 570,000
Change in restricted cash 1,488 (154,992) 0
Other, net 197,536 (155,019) (193,491)
Net cash provided by (used in) investing activities 737,767 136,432 1,711,621
Cash flows provided by (used in) financing activities:      
Proceeds from issuance of ordinary shares and exercise of stock options 9,854 9,976 6,367
Buybacks of ordinary shares (1,051,050) (468,971) (801,953)
Dividends paid on ordinary shares (222,761) (208,516) (169,620)
Distributions to non-controlling interests (130,447) (117,683) (78,465)
Contributions from non-controlling interest 47,524 23,610 48,261
Proceeds from issuance of debt 0 980,600 0
Repayment of debt (8,248) (87,447) (600,000)
Deposit liabilities (69,482) (84,758) (268,298)
Net cash provided by (used in) financing activities (1,424,610) 46,811 (1,863,708)
Effects of exchange rate changes on foreign currency cash (57,742) (64,377) (90,115)
Increase (decrease) in cash and cash equivalents 170,752 734,422 720,982
Cash and cash equivalents – beginning of period 3,256,236 2,521,814 1,800,832
Cash and cash equivalents – end of period 3,426,988 3,256,236 2,521,814
Supplemental cash flow disclosures:      
Net taxes paid 81,662 96,886 20,168
Interest paid on notes payable and debt 138,025 115,598 121,285
Life Funds Withheld Assets      
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Net realized and unrealized (gains) losses on derivative instruments $ 540,090 $ 151,691 $ 488,222