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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows provided by (used in) operating activities:      
Net income (loss) $ 730,388 $ (403,883) $ 643,381
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Net realized (gains) losses on investments (14,098) 188,359 270,803
Net realized and unrealized (gains) losses on derivative instruments (5,221) 10,738 33,843
Amortization of premiums (discounts) on fixed maturities 169,353 120,130 60,869
(Income) loss from investment and operating affiliates (114,314) (103,039) (172,474)
Impairment of goodwill 0 429,020 0
Share based compensation 47,472 41,225 44,057
Depreciation 57,280 49,800 40,423
Accretion of deposit liabilities 81,269 82,799 104,311
Changes in:      
Unpaid losses and loss expenses (287,972) 243,040 (207,526)
Future policy benefit reserves (187,400) (171,618) (197,570)
Unearned premiums 182,963 95,393 (133,955)
Premiums receivable (127,633) (31,286) 94,649
Unpaid losses and loss expenses recoverable 305,675 (2,168) (74,242)
Ceded unearned premiums 14,923 21,532 83,246
Reinsurance balances receivable 162,280 (49,286) 201,479
Deferred acquisition costs (649) (41,881) 12,235
Reinsurance balances payable 48,159 (31,846) (253,213)
Deferred tax asset - net (28,556) (43,583) 104,111
Derivatives 7,252 93,796 123,027
Other assets 22,847 (24,747) (68,513)
Other liabilities 50,342 (93,323) (32,146)
Other (58,254) (51,970) (82,039)
Total adjustments 325,718 731,085 (48,625)
Net cash provided by (used in) operating activities 1,056,106 327,202 594,756
Cash flows provided by (used in) investing activities:      
Proceeds from sale of fixed maturities and short-term investments 3,604,792 5,091,375 5,206,690
Proceeds from redemption of fixed maturities and short-term investments 4,579,651 3,595,922 2,851,815
Proceeds from sale of equity securities 221,617 205,736 115,839
Purchases of fixed maturities and short term investments (8,902,879) (7,529,962) (8,098,862)
Purchases of equity securities (362,021) (631,169) (157,963)
Net dispositions of investment affiliates (4,652) 136,281 319,108
Other investments, net (79,101) (36,080) 24,854
Net cash provided by (used in) investing activities (942,593) 832,103 261,481
Cash flows provided by (used in) financing activities:      
Proceeds from issuance of ordinary shares and exercise of stock options 5,413 576,333 1,182
Proceeds from issuance of Series D preference ordinary shares 0 349,180 0
Buybacks of ordinary shares (402,930) (667,022) (522,024)
Repurchase of Redeemable Series C preference ordinary shares 0 (71,801) (94,157)
Dividends paid on ordinary shares (134,799) (138,050) (133,748)
Dividends paid on preference ordinary shares 0 0 (40,385)
Distributions to non-controlling interests (78,987) (71,483) (37,392)
Proceeds from issuance of debt 0 395,859 0
Contribution from non-controlling interest 1,500 0 0
Repayment of debt (600,000) (575,000) 0
Deposit liabilities (134,950) (152,617) (646,819)
Net cash provided by (used in) financing activities (1,344,753) (358,716) (1,473,343)
Effects of exchange rate changes on foreign currency cash 24,493 1,668 (3,723)
Increase (decrease) in cash and cash equivalents (1,206,747) 802,257 (620,829)
Cash and cash equivalents beginning of year 3,825,125 3,022,868 3,643,697
Cash and cash equivalents end of year 2,618,378 3,825,125 3,022,868
Supplemental cash flow disclosures:      
Net taxes paid 34,465 106,666 75,429
Interest paid on notes payable and debt 116,689 149,133 162,086
Series D preference ordinary shares
     
Cash flows provided by (used in) financing activities:      
Repurchase of preference ordinary shares 0 (3,650) 0
Series E ordinary preference shares
     
Cash flows provided by (used in) financing activities:      
Repurchase of preference ordinary shares $ 0 $ (465) $ 0