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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows provided by (used in) operating activities:      
Net income (loss) $ (490,137) $ 570,145 $ 1,313,339
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Net realized (gains) losses on investments (221,876) (372,138) (202,178)
Net realized and unrealized (gains) losses on derivative instruments 41,732 (2,521) (53,123)
Amortization of premiums (discounts) on fixed maturities 160,191 193,482 194,824
(Income) loss from investment and operating affiliates (122,487) (67,802) (46,072)
Loss (gain) sale of subsidiaries 0 (7,088) 0
Gain on sale of operating affiliate 0 0 (340,407)
Share based compensation 64,199 81,001 74,431
Depreciation and amortization 97,038 118,063 92,313
Accretion of deposit liabilities 29,243 43,984 43,633
Changes in:      
Unpaid losses and loss expenses 2,881,359 1,073,313 (211,831)
Future policy benefit reserves (235,328) (162,096) (278,818)
Funds withheld on life retrocession agreements, net (281,136) (223,516) (210,943)
Unearned premiums 733,182 436,106 (528,214)
Premiums receivable (1,200,673) (1,084,432) 156,168
Unpaid losses and loss expenses recoverable (1,575,247) (360,223) (439,548)
Ceded unearned premiums (430,213) 70,529 237,017
Reinsurance balances receivable (327,462) (174,126) 2,319
Deferred acquisition costs and value of business acquired (118,566) (62,926) 126,455
Reinsurance balances payable 1,120,507 398,738 229,205
Deferred tax asset - net (59,498) (41,641) (47,924)
Derivatives (18,856) 119,038 185,300
Other assets (54,417) (26,673) 17,054
Other liabilities (236,443) (49,853) 152,822
Other 72,192 (65,548) 26,968
Total adjustments 523,456 373,761 (668,858)
Net cash provided by (used in) operating activities 33,319 943,906 644,481
Cash flows provided by (used in) investing activities:      
Proceeds from sale of fixed maturities and short-term investments 15,702,126 12,757,580 16,868,228
Proceeds from redemption of fixed maturities and short-term investments 3,470,496 3,847,709 3,751,174
Proceeds from sale of equity securities 757,549 848,779 664,735
Purchases of fixed maturities and short term investments (19,281,797) (15,457,689) (19,718,064)
Purchases of equity securities (326,610) (1,103,447) (567,334)
Proceeds from sale of affiliates 593,539 397,091 748,575
Purchases of affiliates (176,034) (681,385) (280,856)
Purchase of subsidiaries, net of acquired cash 0 (92,893) (1,020,015)
Proceeds from sale of subsidiary 0 22,998 0
Change in restricted cash (3,993) 1,488 (154,992)
Other, net (72,550) 197,536 (155,019)
Net cash provided by (used in) investing activities 662,726 737,767 136,432
Cash flows provided by (used in) financing activities:      
Proceeds from issuance of ordinary shares and exercise of stock options 50,634 9,854 9,976
Buybacks of ordinary shares (571,614) (1,051,050) (468,971)
Repurchase of preference shares (411,492) 0 0
Employee withholding on share-based compensation (24,189) (28,569) (28,925)
Dividends paid on ordinary shares (228,232) (222,761) (208,516)
Distributions to non-controlling interests (124,305) (130,447) (117,683)
Contributions from non-controlling interest 59,583 47,524 23,610
Proceeds from issuance of debt 558,311 0 980,600
Repayment of debt (17,909) (8,248) (87,447)
Deposit liabilities (34,565) (69,482) (84,758)
Net cash provided by (used in) financing activities (743,778) (1,453,179) 17,886
Effects of exchange rate changes on foreign currency cash 56,699 (57,742) (64,377)
Increase (decrease) in cash and cash equivalents 8,966 170,752 734,422
Cash and cash equivalents – beginning of period 3,426,988 3,256,236 2,521,814
Cash and cash equivalents – end of period 3,435,954 3,426,988 3,256,236
Supplemental cash flow disclosures:      
Net taxes paid 30,955 81,662 96,886
Interest paid on notes payable and debt 137,584 138,025 115,598
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 $ 206,015 $ 540,090 $ 151,691