Global indemnity ltd (GBLIL)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income (loss)

-44,578

29,031

6,721

14,663

19,600

-73,317

3,728

7,192

5,701

-22,998

-8,924

10,089

12,282

38,373

9,535

-5,165

7,125

27,304

-3,746

11,117

6,794

11,064

9,761

33,208

8,823

33,713

6,948

8,664

12,365

4,378

9,913

9,604

10,862

-23,510

-33,422

4,284

14,310

Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Amortization of the value of business acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,677

4,080

7,434

11,309

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization and depreciation

1,775

1,776

1,800

1,744

1,783

1,747

1,670

1,811

1,791

1,692

1,671

1,589

1,553

1,555

1,528

1,544

1,685

1,523

1,427

1,225

1,109

817

843

911

895

1,040

946

1,629

192

941

400

519

422

668

515

519

522

Amortization of debt issuance costs

66

66

66

66

66

66

66

66

66

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

52

13

12

12

14

16

17

17

18

21

20

Amortization of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

65

34

-

31

30

31

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted stock and stock option expense

1,238

1,708

988

924

601

1,058

1,089

969

336

770

1,064

786

1,121

1,032

956

984

559

600

1,060

972

7,639

664

553

870

813

1,108

1,123

896

1,222

747

591

628

659

526

-2,309

570

562

Deferred federal income taxes

-11,969

6,585

-300

1,250

4,248

-13,284

-2,622

-1,650

-1,998

12,593

-8,090

-2,423

-3,098

8,120

833

-6,395

-5,285

1,783

-5,469

1,242

-4,757

-2,792

-101

3,708

-1,643

1,694

518

-2,509

294

-3,983

409

-357

2,468

-133

403

401

-502

Amortization of bond premium and discount, net

-1,399

-1,190

-1,406

-1,102

-1,189

-1,275

-1,530

-1,577

-1,543

-1,762

-1,879

-1,807

-2,451

-2,430

-2,318

-2,567

-2,513

-3,086

-3,369

-3,476

-3,712

-3,402

-2,001

-1,852

-1,848

-1,896

-1,701

-1,692

-1,407

-1,731

-1,701

-1,823

-1,726

-1,962

-1,913

-1,381

-940

Net realized investment (gains) loss

-68,162

24,052

-2,690

3,590

10,390

-24,740

5,319

2,830

-316

2,426

-963

-662

775

30,778

1,928

-3,492

-7,493

3,842

-10,778

6,532

-2,970

-4,366

1,158

39,881

-813

17,208

1,641

2,806

5,757

-158

3,211

1,941

1,761

-198

1,288

8,386

11,997

Equity in the earnings of equity method limited liability investments

710

-

-

3,672

-4,103

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in the earnings of equity method limited liability investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,002

713

2,034

1,085

106

1,089

253

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in:
Equity in income of partnerships

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

53

Premiums receivable, net

-2,704

5,043

-7,657

28,172

4,798

3,038

-7,926

15,293

-7,112

-76

-1,773

5,508

-11,367

5,625

-3,806

4,707

-3,677

-6,354

-17,780

16,404

-17,595

-5,625

-8,248

12,606

7,965

9,756

-7,103

14,267

-4,784

-3,230

-10,216

5,615

-763

-11,559

-8,213

384

11,440

Reinsurance receivables, net

-864

926

16,614

-35,948

-12,072

17,884

-34

-1,079

-7,413

-18,709

16,317

1,020

-37,342

35,322

-6,913

1,801

-2,030

-18,593

-9,760

-2,753

7,140

-52,475

-3,849

-16,925

1,080

-23,864

-10,894

-7,039

-2,143

-32,166

-4,102

-4,806

-5,085

-15,964

-28,292

-58,332

-32,270

Funds held by ceding insurers

-182

-142

6,963

-3,251

-4,498

-1,268

-851

3,742

4,168

5,059

1,638

6,287

18,651

-6,242

-571

2,646

1,244

-8,486

-3,524

4,253

-1,390

1,414

-2,060

2,058

5,102

-12,163

4,033

3,028

16,354

-

-

-

-

-

-

-

-

Unpaid losses and loss adjustment expenses

9,287

-3,106

24,514

-37,186

-34,072

71,424

-5,063

-1,455

-19,539

-15,062

33,963

-6,325

-28,954

-13,340

-19,468

7,614

-3,811

-49,462

-40,909

-236

5,693

-64,459

-14,664

-24,452

-419

-43,588

-21,855

-19,249

-14,947

-44,664

-17,505

-19,641

-10,453

155

-3,974

-59,892

-17,655

Unearned premiums

-6,560

-1,936

4,039

31,074

-228

-15,718

-6,558

23,126

-4,335

-5,363

-789

15,665

-11,100

8,423

-15,865

6,865

1,276

-11,372

2,323

11,949

-9,664

-6,983

-5,791

12,001

4,959

-11,484

-459

20,194

14,264

-4,973

-4,107

2,952

-13,799

-21,825

-13,238

9,147

4,085

Ceded balances payable

3,528

-16,027

18,972

2,886

-421

-1,618

-5,236

9,920

1,077

-2,016

-1,928

7,245

-7,125

2,957

-668

6,625

1,172

479

-14,828

6,429

-3,510

-1,350

-1,746

3,177

-2,458

84

465

1,785

-1,358

1,151

-4,593

992

-2,236

348

2,421

-3,413

-2,845

Other assets and liabilities, net

6,262

6,233

-2,923

-5,295

18,147

-11,783

9,225

1,133

-45,398

-4,381

13,267

4,740

13,435

-4,283

6,400

-4,541

17,489

-7,129

-113

-4,043

17,355

3,715

-3,906

-2,017

5,606

2,845

-2,246

-2,690

3,527

-507

4,532

-2,958

6,123

-2,217

3,584

-4,726

4,512

Contingent commissions

-6,087

1,893

1,932

933

-3,466

2,560

1,580

2,604

-4,092

2,432

889

1,110

-5,901

62

-106

1,428

-2,999

-3,355

474

1,970

-5,353

474

1,889

-1,197

-858

3,025

2,350

-872

-1,737

2,068

1,612

1,152

-2,394

1,780

749

125

-4,441

Federal income tax receivable/payable

5,479

147

-2

-65

-203

-108

-767

166

175

92

234

79

1

4,875

184

91

-103

359

-518

-2,646

1,116

-4,706

-5,043

7,032

-2,017

5,459

-2,437

6,100

-649

1,756

1,162

-2,142

-5,397

-4,216

434

-6,568

8,073

Deferred acquisition costs, net

-1,062

-184

1,814

6,193

1,178

-2,862

-966

4,079

-222

-650

549

3,658

189

2,760

-910

713

-1,179

-881

5,020

13,150

13,990

-852

-774

2,627

2,060

-2,001

-1,802

3,719

3,996

-1,173

-749

-3,480

2,103

-3,040

-8,745

839

3,151

Prepaid reinsurance premiums

-1,204

-1,047

-1,481

203

-1,553

-2,382

-2,261

595

-4,209

-1,976

-1,221

-1,060

-9,475

4,182

-11,362

-642

6,042

5,213

4,531

-5,181

-8,431

-739

-1,022

1,646

-359

-28

-21

522

-1,219

-445

-231

-327

393

-1,207

-1,080

796

-3,058

Net cash provided by (used for) operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-13,602

-

-13,362

14,283

-10,267

4,956

-20,423

13,481

5,736

-4,941

6,403

-2,766

-10,698

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used for) operating activities

20,784

-13,554

49,065

20,055

-23,190

-3,802

-13,089

17,733

41,227

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,423

-

-2,807

-4,645

-18,451

-9,178

-5,032

-772

7,244

Cash flows from investing activities:
Proceeds from sale of fixed maturities

124,070

335,272

72,520

508,271

61,258

63,986

114,906

67,308

47,148

176,210

110,576

492,303

139,350

101,730

79,614

134,404

65,641

356,824

79,038

103,422

108,120

65,560

130,984

123,906

95,289

51,542

47,016

101,129

92,513

73,942

109,840

164,256

106,617

120,363

145,242

239,348

220,016

Proceeds from sale of equity securities

49,546

54,679

39,184

151,674

15,354

7,498

10,680

8,178

9,283

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of equity securities

-

-

-

-

-

-

-

-

-

-

-

8,114

5,626

-

14,009

9,514

11,453

5,562

11,834

15,818

6,509

10,562

145,366

25,135

10,702

46,205

12,623

21,852

20,699

9,877

15,140

8,086

17,073

43,554

28,436

20,690

29,365

Proceeds from sale of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,540

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturity of fixed maturities

13,259

67,066

17,486

76,642

19,352

11,879

10,262

14,760

18,281

32,855

59,142

39,060

14,418

24,572

14,696

16,389

30,352

10,975

14,690

54,790

77,390

42,275

15,500

18,686

32,095

16,470

93,034

23,985

9,545

26,750

21,160

15,280

10,180

7,325

6,230

8,825

22,845

Proceeds from limited partnerships

-

-

-

-

-

-

-

-

-

-

245

8,414

1,908

-

4,350

0

2,000

1,672

0

0

4,287

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amounts received in connection with derivatives

-

-

-

-

-

-

-

-

-

-

-

-

114

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from other invested assets

682

2,556

11,852

904

1,445

35,025

3,481

2,160

2,711

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amounts paid in connection with derivatives

20,007

-4,862

4,494

4,287

3,735

3,207

-997

-1,112

-5,490

-

-

-

-

-10,517

-797

5,644

6,680

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amount paid in connection with derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,551

-5,153

5,674

7,368

2,542

5,004

5,636

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of other invested assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,348

Purchases of fixed maturities

156,424

427,883

127,806

461,854

112,024

41,534

114,065

121,334

93,603

99,125

197,804

561,925

219,345

93,176

108,483

139,883

96,148

142,830

91,221

156,488

237,444

89,932

254,439

158,090

113,406

107,824

143,274

86,899

127,321

90,444

71,995

131,047

163,664

14,386

117,262

250,976

253,112

Purchases of equity securities

10,810

39,283

40,988

266,995

17,989

13,327

5,601

9,990

7,340

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of equity securities

-

-

-

-

-

-

-

-

-

-

-

9,341

8,176

-

14,162

10,689

10,094

6,017

9,438

17,179

5,817

11,044

6,235

15,423

12,375

47,702

11,323

21,645

20,136

12,468

17,547

9,322

18,172

44,850

52,582

18,823

29,100

Purchases of other invested assets

0

9,783

0

0

3,500

509

5,250

3,500

7,050

-

-

-

-

-

-

-

-

-

-

-

-

11,645

6,500

9,874

2,101

0

6

0

10

0

7

0

6

4

24

0

10,026

Cash release from escrow for business acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

113,696

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of business

-

-

-

-

-

0

0

0

3,515

-

-

-

-

-

-

-

-

0

0

0

92,336

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used for) investing activities

316

-12,514

-32,246

4,355

-39,839

59,811

15,410

-41,306

-28,595

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-24,710

-

57,705

47,253

-47,972

121,219

10,040

-936

-18,664

Cash flows from financing activities:
Net cash used for investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-66,105

-

7,574

1,632

-3,476

225,354

-3,898

5,516

-29,729

-115,288

22,146

-20,664

4,568

-

-

-

-

-

-

-

-

-

-

-

-

Net borrowings (repayments) under margin borrowing facility

-1,922

-750

5,152

-2,541

5,950

6,413

-5,304

691

-8,212

-4,288

2,630

-255

7,497

-10,050

-1,080

7,444

-5,314

-120,141

8,380

-19,838

32,572

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of subordinated notes

-

-

-

-

-

-

-

-

-

0

0

0

130,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance cost

-

-

-

-

-

-

-

-

-

0

0

26

4,220

0

0

0

14

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid to shareholders

3,555

7,092

5

3,530

3,595

3,517

3,509

3,502

3,499

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of A ordinary shares

143

0

0

-2

949

54

0

0

1,813

0

0

22

1,137

0

0

18

787

0

0

16

317

0

0

0

139

16

0

11

28

2,577

5,532

66,002

8,848

29,365

0

46

121

Tax benefit on share-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2

125

-48

0

1

57

-

-

-

-

-

-

-

22

-

-

-

1

-26

0

0

-106

Principal payments of term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

18,000

0

71

71

18,071

72

71

Net cash provided by (used for) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

132,140

-

-1,080

7,428

-5,990

-309,959

104,721

-19,853

32,312

112,436

-80,286

42,560

-139

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used for) financing activities

-5,620

-7,842

5,147

-6,069

1,406

2,842

-8,813

-2,811

-13,524

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-

-23,532

-66,003

-8,918

-29,462

-18,071

-118

-298

Net change in cash and cash equivalents

15,480

-

-

-

-61,623

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-26,384

-892

-

-36,377

-31,079

52,433

11,331

-6,868

23,343

-19,733

-79,649

80,400

-856

8,319

-7,793

-51,737

19,130

-6,269

-10,461

4,513

42,119

-35,139

-4,030

31,366

-23,395

-75,341

82,579

-13,063

-1,826

-11,718