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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 1,052 $ 119,443
Adjustments to reconcile net income to net cash provided by operating activities:    
Decrease (increase) in premiums receivable 100,613 (20,229)
Decrease (increase) in funds held by reinsureds, net (15,006) (9,734)
Decrease (increase) in reinsurance recoverables 126,897 70,548
Decrease (increase) in income taxes (12,263) 28,199
Decrease (increase) in prepaid reinsurance premiums 12,266 404
Increase (decrease) in reserve for losses and loss adjustment expenses 287,533 528,078
Increase (decrease) in unearned premiums (44,708) 68,743
Increase (decrease) in other net payable to reinsurers 7,902 80,245
Increase (decrease) in losses in course of payment (133,786) (19,876)
Change in equity adjustments in limited partnerships (52,915) (54,558)
Distribution of limited partnership income 39,589 11,015
Change in other assets and liabilities, net (31,102) (25,992)
Non-cash compensation expense 9,792 9,004
Amortization of bond premium (accrual of bond discount) 8,217 6,823
Net (gains) losses on investments 226,587 (135,011)
Net cash provided by (used in) operating activities 530,668 657,102
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from fixed maturities matured/called - available for sale 518,038 492,943
Proceeds from fixed maturities sold - available for sale 266,665 76,628
Proceeds from equity securities sold - at fair value 81,975 281,313
Proceeds from distributions and sales of other invested assets 75,895 32,201
Cost of fixed maturities acquired - available for sale (1,253,493) (1,140,719)
Cost of equity securities acquired- at fair value (195,026) (174,877)
Cost of other invested assets acquired (74,708) (51,719)
Net change in short-term investments 122,545 87,694
Net change in unsettled securities transactions 29,268 (99,747)
Net cash provided by (used in) investing activities (428,842) (496,283)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Tax benefit from share-based compensation, net of expense (9,679) (8,896)
Net cash provided by (used in) financing activities (9,679) (8,896)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (3,932) (11,760)
Net increase (decrease) in cash 88,215 140,163
Cash, beginning of period 699,266 378,518
Cash, end of period 787,481 518,681
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid (recovered) 1,916 2,001
Interest paid $ 2,210 $ 1,775