| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operations: | ||||||
Net (loss) income | ||||||
-45,600 | -16,700 | -136,300 | 51,800 | 310,000 | ||
Adjustments to reconcile net income to net cash provided from operations: | ||||||
Gain (Loss) on Investments | ||||||
137,300 | -20,900 | -37,700 | 50,100 | 241,000 | ||
Amortization of premium on fixed maturity investments | ||||||
5,900 | -5,800 | -16,600 | -21,100 | -22,400 | ||
Amortization of Intangible Assets | ||||||
15,800 | 15,800 | 10,200 | - | - | ||
Depreciation and other amortization | ||||||
8,200 | 9,500 | 8,900 | 6,700 | 5,500 | ||
Share-based compensation | ||||||
9,100 | 2,000 | 0 | - | - | ||
Business Combination, Revaluation of Contingent Consideration | ||||||
-6,300 | 9,600 | 48,800 | - | - | ||
Impairment of intangible assets | ||||||
0 | 8,000 | 5,000 | - | - | ||
Excess of fair value of acquired net assets over cost | ||||||
- | - | - | 4,300 | - | ||
Undistributed equity in earnings of unconsolidated affiliates, after-tax | ||||||
- | - | - | 6,600 | - | ||
Other operating items: | ||||||
Net change in loss and loss adjustment expense reserves | ||||||
357,800 | 203,700 | 188,300 | 18,100 | -100,700 | ||
Net change in reinsurance recoverable on paid and unpaid losses | ||||||
90,900 | 95,700 | 11,100 | 23,600 | -24,600 | ||
Net change in funds held by ceding companies | ||||||
111,100 | 48,000 | 38,900 | 15,100 | 4,800 | ||
Net change in unearned insurance and reinsurance premiums | ||||||
89,100 | 195,500 | 55,700 | 60,800 | 27,400 | ||
Net change in ceded reinsurance payable | ||||||
48,400 | 93,400 | 22,800 | 11,500 | 8,400 | ||
Net change in ceded unearned insurance and reinsurance premiums | ||||||
-13,300 | -76,300 | 14,400 | -1,900 | -18,900 | ||
Net change in insurance and reinsurance premiums receivable | ||||||
127,000 | 144,100 | 102,300 | 95,400 | 39,200 | ||
Net change in deferred acquisition costs | ||||||
10,700 | 28,400 | 27,000 | 14,200 | 8,600 | ||
Net change in funds held under reinsurance treaties | ||||||
-60,600 | -42,700 | -5,800 | -13,000 | 900 | ||
Net change in current and deferred income taxes, net | ||||||
5,500 | -18,700 | -13,300 | 12,000 | -12,000 | ||
Net change in other assets and liabilities, net | ||||||
-61,800 | 89,200 | 50,300 | 6,600 | -38,100 | ||
Net cash provided from operations | ||||||
109,800 | 108,000 | -36,000 | -46,800 | 9,500 | ||
Cash flows from investing activities: | ||||||
Net change in short-term investments | ||||||
362,300 | 90,100 | 1,000 | 202,700 | -109,800 | ||
Sales of fixed maturities and convertible fixed maturity investments | ||||||
573,300 | 1,373,100 | 1,422,400 | 2,454,700 | 2,176,500 | ||
Maturities, calls, and paydowns of fixed maturity and convertible fixed maturity investments | ||||||
407,700 | 102,700 | 292,200 | 141,800 | 178,300 | ||
Sales of common equity securities | ||||||
369,300 | 353,100 | 87,600 | 851,600 | 312,600 | ||
Distributions, redemptions, and maturities of other long-term investments | ||||||
74,600 | 72,400 | 40,600 | 27,900 | 13,200 | ||
Sales of consolidated subsidiaries and unconsolidated affiliates, net of cash sold | ||||||
0 | 0 | 800 | 173,500 | 14,300 | ||
Contributions to other long-term investments | ||||||
53,400 | 160,100 | 167,500 | 73,500 | 10,700 | ||
Purchases of common equity securities | ||||||
336,900 | 505,700 | 222,300 | 232,700 | 266,100 | ||
Purchases of fixed maturities and convertible fixed maturity investments | ||||||
726,700 | 1,321,300 | 1,018,500 | 3,192,300 | 2,458,000 | ||
Purchases of loan participations | ||||||
20,000 | 0 | 0 | - | - | ||
Purchases of consolidated subsidiaries, net of cash acquired | ||||||
0 | 7,900 | 354,500 | -27,500 | - | ||
Net change in unsettled investment purchases and sales | ||||||
-2,600 | -1,200 | -7,900 | 38,400 | -12,200 | ||
Other, net | ||||||
700 | 4,900 | 5,900 | -4,300 | 9,100 | ||
Net cash (used for) investing activities | ||||||
-77,700 | -189,900 | 66,000 | 18,500 | 48,600 | ||
Cash flows from financing activities: | ||||||
Payment of contingent consideration | ||||||
6,900 | 4,400 | 30,600 | - | - | ||
Change in collateral held on Interest Rate Cap | ||||||
-100 | 0 | -1,100 | -500 | -2,400 | ||
Cash dividends paid to former parent | ||||||
- | - | - | -27,000 | - | ||
Cash dividends paid to non-controlling interests | ||||||
1,000 | 0 | 14,100 | 18,800 | 18,800 | ||
Proceeds from issuance of common shares, net of expenses | ||||||
0 | 61,200 | 0 | - | - | ||
Proceeds from issuance of Series B preference shares | ||||||
0 | 195,800 | 0 | - | - | ||
Redemption of common shares from CM Bermuda | ||||||
0 | 164,000 | 0 | - | - | ||
Return of capital to CM Bermuda | ||||||
0 | 1,600 | 0 | - | - | ||
Redemption of Series A redeemable preference shares | ||||||
0 | 95,000 | 0 | - | - | ||
Proceeds from Contributions from Parent | ||||||
0 | 1,400 | 13,300 | 89,600 | - | ||
Issuance of debt, net of issuance costs | ||||||
0 | 0 | 340,800 | 392,400 | - | ||
Redemption of SIG Preference Shares | ||||||
0 | 0 | 250,000 | - | - | ||
Repayment of debt | ||||||
0 | 0 | 3,800 | 405,600 | - | ||
Other, net | ||||||
0 | 0 | -900 | 800 | - | ||
Net cash (used for) from financing activities | ||||||
-8,000 | -6,600 | 53,600 | 30,900 | -21,200 | ||
Effect of exchange rate changes on cash | ||||||
-5,700 | -9,900 | 9,900 | -9,400 | -4,500 | ||
Net increase (decrease) in cash during period | ||||||
18,400 | -98,400 | 93,500 | -6,800 | 32,400 | ||
Supplemental disclosures of cash flow information: | ||||||
Income taxes paid | ||||||
9,300 | 19,100 | 16,700 | 8,300 | - | ||
Interest paid | ||||||
29,900 | 30,000 | 22,000 | 31,600 | - | ||