ASPEN INSURANCE HOLDINGS LTD AHL Cash Flow

Aspen insurance holdings ltd (AHL)

CashFlow / Yearly

Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash flows (used in) operating activities:
Net income
-145,800	-266,400	203,400	323,100	355,800	329,300	280,400	-110,100	312,700	473,900	103,800
Proportion due to non-controlling interest
1,000	1,300	100	800	800	-500	200	100	300	-	-
Adjustments to reconcile net income to net cash flows from operating activities:
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization
43,400	62,200	51,500	28,500	29,600	41,100	38,800	28,100	21,400	10,500	10,600
Share-based compensation
10,100	9,800	15,500	17,900	15,100	21,400	17,800	4,000	12,800	17,200	7,000
Realized and unrealized investment gains
110,000	148,900	108,400	94,500	46,300	56,900	35,400	46,800	61,100	-	-
Realized and unrealized investment losses
174,700	28,400	63,200	77,500	14,700	20,500	8,600	16,500	10,500	-	-
Deferred taxes
7,100	32,500	-9,400	6,800	-4,700	19,500	20,800	36,000	29,900	-20,300	-3,900
Change in fair value of loan notes issued by variable interest entities
-4,400	21,200	-17,100	-19,800	-18,600	0	0	-	-	-	-
Other investments gains
-	-	-	-	-	-2,300	0	0	-	-	-
Net realized and unrealized investment foreign exchange losses/(gains)
800	15,000	-1,400	-5,500	-800	-3,700	-1,900	0	-	11,400	47,900
Net realized investment (gains) included in net investment income
-	-	-	-	-	-	-	-	-	-19,600	96,600
Net change from current period hedged transactions
1,800	-2,600	-700	-2,600	0	-500	-200	-300	-200	-200	-200
Insurance reserves:
Losses and loss adjustment expenses
402,500	1,292,200	466,200	244,500	159,300	-82,900	-211,900	-700,200	-509,200	-171,500	-332,900
Unearned premiums
-91,600	174,100	23,900	120,400	152,600	158,500	198,300	60,300	-42,800	96,900	53,100
Reinsurance recoverables:
Unpaid losses
-575,800	-943,700	-219,900	-8,600	-19,300	164,100	-70,400	-146,600	40,000	-38,600	-22,100
Ceded unearned premiums
44,800	257,600	87,600	-37,800	51,800	29,400	34,000	25,200	-39,500	57,500	-30,700
Other receivables
-29,900	48,200	-1,400	-600	4,500	-12,400	-1,600	1,800	-	-	-
Accrued investment income and other receivables
-	-	-	-	-	-	-	-	3,100	17,600	-13,300
Deferred policy acquisition costs
-41,700	-69,400	-2,400	61,900	41,500	39,100	37,600	29,500	2,300	15,800	15,800
Reinsurance premiums payable
52,100	23,800	234,000	2,700	4,500	-32,800	-2,300	42,600	3,200	5,000	22,500
Funds withheld
-8,000	26,700	37,100	-10,900	400	-37,800	-6,400	7,400	-1,800	100	-19,500
Premiums receivable
-31,600	88,700	271,100	123,700	28,500	-52,100	165,900	63,500	119,700	55,900	144,600
Income tax payable
1,600	15,900	-20,100	-7,400	-10,800	21,300	18,300	-32,100	2,200	1,300	-51,500
Accrued expenses and other payables
-88,200	147,000	75,700	-11,900	51,600	-9,600	52,400	-10,400	50,800	56,800	-17,600
Fair value of derivatives and settlement of liabilities under derivatives
-5,900	16,600	-16,400	11,400	-10,400	9,200	-7,700	-9,700	9,300	-3,200	2,400
Long-term debt and loan notes issued by variable interest entities
-44,000	-70,600	12,200	100	100	200	100	200	-	-	-
Intangible assets
-	-	-	-	200	100	0	0	-800	-	-
Other assets
-500	-500	-3,100	-9,300	6,300	19,800	-18,200	9,100	11,300	-6,300	1,700
Net cash (used in) operating activities
-304,500	-111,500	453,200	574,200	607,400	566,400	496,400	343,500	624,300	646,600	530,500
Cash flows from investing activities:
(Purchases) of fixed income securities — Available for sale
1,785,600	1,573,200	2,236,700	2,131,900	2,005,000	2,129,800	1,529,600	1,784,400	2,096,800	2,927,200	2,627,000
(Purchases) of fixed income securities — Trading
1,260,900	1,312,900	973,300	556,900	653,400	763,400	300,800	378,600	710,400	-	-
Proceeds from sales and maturities of fixed income securities — Available for sale
1,647,100	2,018,800	2,307,900	1,656,300	1,909,500	1,872,300	1,416,500	1,823,500	661,300	-	-
Net sales from other investments
-	-	-	-	-	-	-	-	-	282,100	177,100
Proceeds from sales and maturities of fixed income securities — Trading
1,661,000	957,600	593,700	519,900	615,900	486,000	257,200	389,900	2,050,700	1,898,900	2,358,800
(Purchases) of equity securities Available for sale
-	-	-	-	-	2,500	53,100	205,400	-	-	-
(Purchases) of equity securities — Trading
16,500	131,300	195,300	392,200	361,000	304,400	0	0	-	-	-
Net (purchases) of catastrophe bonds — Trading
4,100	-7,400	-12,800	20,900	28,700	5,800	0	0	-	-	-
Proceeds from sales of equity securities Available for sale
-	-	-	108,600	40,000	82,200	46,900	29,200	-	-	-
Proceeds from sales of equity securities — Trading
505,600	316,300	372,000	270,800	62,200	24,100	0	0	-	-	-
(Purchases) of short-term investments — Available for sale
130,800	130,700	224,600	212,100	580,600	382,300	-	-	-	-	-
Proceeds from sales of short-term investments — Available for sale
113,200	189,500	242,900	282,600	470,300	640,500	-	-	-	-	-
(Purchases) of short-term investments — Trading
16,400	96,000	190,600	45,600	114,200	80,300	-	-	-	-	-
Proceeds from sales of short-term investments — Trading
78,900	212,000	14,100	36,300	114,000	82,700	-	-	-	-	-
Net change in (payable)/receivable for securities sold
-5,500	-9,900	12,700	-2,100	2,800	-	-	-	-	-	-
Net (purchases) of other investments
100,000	0	0	800	-39,300	0	0	-	-	-	-
Net proceeds in (purchases)/sales from other investments
0	500	0	0	-	-	-	-	-	-	-
Non-controlling interest introductory capital
-	-	-	-	-	-	-	-	800	-	-
Net (purchases) of equipment
27,300	35,000	23,700	13,900	26,100	16,300	24,000	29,900	17,900	4,600	11,400
Net (purchases)/sales of short-term investments Available for sale
-	-	-	-	-	-	122,700	13,300	-91,800	97,000	-24,300
Net (purchases) of short-term investments Trading
-	-	-	-	-	-	0	-	-	-	-
Net change in (payable)/receivable for securities (purchased)/sold
-	-	-	-	-	-900	1,100	-41,500	52,300	165,400	-177,100
Proceeds from Sale of Equity Method Investments
0	9,300	0	0	-	-	-	-	-	-	-
Net (purchases) of investments, equity method
1,400	2,400	3,300	-	0	-	-	-	-	-	-
Payments for acquisitions and investments, net of cash acquired
0	0	59,500	0	0	-	-	-	13,400	-	-
Investment in Micro-insurance venture
-	-	-	-	-	0	8,700	0	-	-	-
Net cash from investing activities
657,300	419,000	-350,900	-501,900	-515,000	-497,900	-317,200	-210,500	18,400	-682,400	-255,300
Cash flows (used in) financing activities:
Proceeds from the issuance of ordinary shares, net of issuance costs
2,700	500	2,500	6,800	2,700	21,200	22,100	800	20,300	25,100	2,000
Ordinary shares canceled
0	30,000	75,000	83,700	180,900	309,600	62,700	8,100	407,800	-	100,300
Dividends paid to non-controlling interest
100	100	0	100	100	100	100	100	-	-	-
Contingent consideration - earn out provision settlement
-11,700	0	0	-	-	-	-	-	-	-	-
Proceeds from note issuances by Aspen Holdings
-	-	-	-	-	299,700	0	0	-	-	-
Repayment of long-term debt issued by Silverton
125,000	0	0	-	-	250,000	0	0	-	-	-
Proceeds from the issuance of preference shares, net of issuance costs
0	0	241,300	0	0	270,600	154,500	0	-	-	-
Preference share redemption
0	293,200	0	0	-	230,000	0	0	-	-	-
Costs from the redemption of preference shares
-	-	-	-	-	-	-	-	-	34,100	-
Proceeds from loan notes issued by Silverton
0	0	105,000	100,000	70,000	50,000	0	0	249,200	-	-
Repayments of Other Long-term Debt
86,400	115,600	89,300	67,800	0	0	-	-	-	-	-
Dividends paid on ordinary shares
42,900	56,200	52,700	50,900	50,300	47,800	47,000	42,500	46,500	49,800	50,200
Dividends paid on preference shares
30,500	36,200	41,800	37,800	37,800	35,500	31,100	22,800	22,800	23,800	27,700
Payment for Extinguishment of Debt
8,600	0	0	-	-	-	-	-	-	-	-
Cash paid for tax withholding purposes
4,700	9,600	0	0	-	-	-	-	-	-	-
Make-whole payment
-	-	-	-	-	9,300	0	0	-	-	-
Net cash (used in) financing activities
-307,200	-540,400	90,000	-133,500	-196,400	-240,800	35,700	-72,700	-207,600	-82,600	-176,200
Effect of exchange rate movements on cash and cash equivalents
-16,700	13,900	-18,000	-17,800	-11,100	2,300	9,600	-300	-4,400	57,700	58,700
(Decrease)/increase in cash and cash equivalents
28,900	-219,000	174,300	-79,000	-115,100	-170,000	224,500	60,000	430,700	-60,700	157,700
Supplemental disclosure of cash flow information:
Net cash (received) during the period for income tax
-300	3,400	7,000	8,800	1,800	-6,300	11,000	24,800	56,000	55,500	76,200
Cash paid during the period for interest
25,300	29,000	29,000	29,000	29,000	35,000	30,000	30,200	15,000	15,000	15,000