| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FROM OPERATING ACTIVITIES: | |||||||||||
Net (loss) income to common stockholders | |||||||||||
681,944 | 640,749 | 549,094 | 601,916 | 503,694 | 648,884 | 499,925 | 510,592 | 391,211 | 446,405 | 309,057 | 281,141 |
Adjustments to reconcile net income to net cash from (used in) operating activities: | |||||||||||
Net investment losses (gains) | |||||||||||
120,703 | 154,488 | 335,858 | 267,005 | 92,324 | 254,852 | 121,544 | 210,465 | 125,481 | 56,581 | -38,408 | -356,931 |
Depreciation and amortization | |||||||||||
113,387 | 131,108 | 112,956 | 86,051 | 85,139 | 88,836 | 103,090 | 103,419 | 88,012 | 82,867 | 78,875 | 83,953 |
Noncontrolling interests | |||||||||||
2,041 | 8,317 | 4,243 | 1,569 | 413 | 719 | 5,376 | 51 | -70 | 279 | 23 | 262 |
Investment funds | |||||||||||
69,194 | 109,349 | 69,333 | 99,301 | 62,228 | 131,649 | 67,712 | 77,015 | -1,751 | -49,400 | -166,685 | -8,550 |
Stock incentive plans | |||||||||||
49,274 | 36,591 | 40,490 | 37,174 | 32,123 | 28,068 | 23,784 | 26,763 | 27,175 | 27,407 | 24,465 | 24,139 |
Change in: | |||||||||||
Arbitrage trading account | |||||||||||
26,553 | 19,093 | 4,896 | 10,633 | 7,173 | 50,817 | 10,324 | 1,424 | 8,106 | 12,993 | 406,622 | -182,301 |
Investment in arbitrage funds | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -137,305 |
Trading account receivables from brokers and clearing organizations | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 281,043 |
Trading account securities sold but not yet purchased | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -44,089 |
Premiums and fees receivable | |||||||||||
189,151 | 43,813 | 67,752 | 60,403 | 60,942 | 104,174 | 138,027 | 228,756 | 122,468 | 41,167 | -17,159 | -117,128 |
Reinsurance accounts | |||||||||||
165,898 | 165,287 | 66,542 | 235,455 | 31,930 | 33,445 | 171,263 | 216,968 | 161,070 | 14,960 | -26,010 | 35,760 |
Accrued investment income | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -11,103 |
Prepaid reinsurance premiums | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 8,744 |
Deferred policy acquisition costs | |||||||||||
20,057 | -7,788 | -30,343 | 25,912 | 29,860 | 42,789 | 52,124 | 38,656 | 38,541 | 10,877 | -6,181 | -53,332 |
Current income taxes | |||||||||||
-12,530 | -11,950 | 25,859 | 42,632 | 20,428 | -40,935 | -45,613 | 5,914 | - | - | - | - |
Current Income Tax Expense (Benefit) | |||||||||||
- | - | - | - | - | 271,306 | 139,164 | 179,368 | - | - | - | - |
Income taxes | |||||||||||
-7,130 | 74,761 | 16,893 | -9,012 | -47,260 | -30,812 | -56,281 | -13,240 | -43,340 | -62,353 | 52,536 | 57,321 |
Reserves for losses and loss expenses | |||||||||||
612,254 | 339,015 | 438,530 | 572,196 | 397,685 | -376,617 | -372,002 | -406,763 | -325,758 | 103,745 | -41,923 | -416,235 |
Other assets | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -36,227 |
Unearned premiums | |||||||||||
301,355 | 84,142 | 4,160 | 149,683 | 142,699 | 277,826 | 323,160 | 279,986 | 238,499 | 3,414 | -57,261 | -238,557 |
Due to reinsurers | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 21,645 |
Other | |||||||||||
-19,506 | -48,770 | 66,482 | 46,852 | -63,680 | -58,254 | 42,787 | 102,014 | 10,269 | 19,514 | 123,687 | -73,864 |
Net cash from operating activities | |||||||||||
1,143,793 | 620,199 | 710,883 | 848,376 | 881,304 | 734,847 | 819,798 | 675,458 | 670,279 | 451,316 | 316,054 | 1,552,960 |
CASH FROM INVESTING ACTIVITIES: | |||||||||||
Proceeds from sale of fixed maturity securities | |||||||||||
2,093,271 | 3,525,149 | 4,035,162 | 2,440,310 | 1,388,680 | 633,459 | 1,344,707 | 838,576 | 1,293,876 | 1,554,906 | 2,436,258 | 1,006,604 |
Proceeds from sale of equity securities | |||||||||||
79,963 | 497,989 | 195,270 | 143,042 | 15,833 | 113,251 | 267,554 | 409,610 | 159,827 | 137,990 | 188,646 | 62,254 |
Distributions from (contributions to) investment funds | |||||||||||
-194,663 | 79,635 | -247,404 | -142,601 | 177,424 | 69,319 | -236,580 | 77,930 | -113,913 | -53,979 | -87,011 | 184,621 |
Proceeds from maturities and prepayments of fixed maturity securities | |||||||||||
2,933,980 | 2,676,455 | 3,556,744 | 2,189,365 | 2,999,339 | 2,605,839 | 2,718,156 | 2,291,105 | 1,697,144 | 1,374,378 | 1,214,157 | 997,171 |
Purchase of fixed maturity securities | |||||||||||
5,352,886 | 6,677,753 | 7,940,957 | 5,541,202 | 4,455,223 | 4,292,165 | 4,198,135 | 3,617,002 | 2,815,340 | 2,755,449 | 4,869,368 | 2,230,222 |
Purchase of equity securities | |||||||||||
172,978 | 85,610 | 27,522 | 202,736 | 29,526 | 31,207 | 156,557 | 284,991 | 97,986 | 193,914 | 67,309 | 172,306 |
Real estate purchased | |||||||||||
146,752 | 514,064 | 236,039 | 299,123 | 222,659 | 213,159 | 107,352 | 256,386 | 96,552 | 0 | 0 | - |
Proceeds from Sale of Buildings | |||||||||||
- | - | - | - | - | 343,723 | 0 | 0 | - | - | - | - |
Contributions to investment funds | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 148,039 |
Change in loans receivable | |||||||||||
-3,481 | 13,204 | -27,135 | -166,327 | -48,909 | -21,608 | 30,974 | 124,776 | -92,176 | -23,317 | 11,363 | 48,524 |
Payments to Acquire Property, Plant, and Equipment | |||||||||||
60,457 | 49,860 | 115,719 | 50,829 | 63,562 | 41,958 | 63,150 | 40,556 | 45,320 | 49,605 | 30,455 | 78,947 |
Change in balances due to security brokers | |||||||||||
-2,844 | -4,262 | 4,372 | -20,992 | 22,666 | -32,617 | 26,155 | 25,799 | 16,194 | 297 | -144,023 | 138,281 |
Cash received in connection with business disposition | |||||||||||
0 | 8,664 | 0 | 250,216 | 0 | 15,783 | - | - | - | - | - | - |
Payment for business purchased, net of cash acquired | |||||||||||
0 | 6,637 | 70,570 | 53,451 | 7,312 | 65,421 | 56,878 | 42,779 | 261,992 | 0 | 33,812 | 48,895 |
Net cash from investing activities | |||||||||||
-424,871 | -714,244 | -333,464 | -794,488 | -170,763 | -808,311 | -545,364 | -775,068 | -204,274 | 37,347 | -1,116,234 | -614,564 |
CASH USED IN FINANCING ACTIVITIES: | |||||||||||
Bank deposits received | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 17,795 |
Repayments to federal home loan bank | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -6,325 |
Net proceeds from stock options exercised | |||||||||||
- | - | - | - | - | - | 53 | 7,660 | 21,963 | 17,730 | 5,426 | 14,806 |
Repayment of senior notes and other debt | |||||||||||
-456,360 | -4,524 | -20 | -75,487 | -281,086 | -3,700 | -465,389 | 0 | -1,310 | -162,685 | -11,165 | -102,123 |
Net proceeds from issuance of debt | |||||||||||
290,974 | 294,562 | 6,983 | 388,769 | 9,056 | 354,012 | 346,822 | 369,291 | 0 | 309,030 | 333,589 | - |
Cash dividends to common stockholders | |||||||||||
308,191 | 254,951 | 188,199 | 183,999 | 58,034 | 181,489 | 52,717 | 183,947 | 43,253 | 49,348 | 28,843 | 46,978 |
Purchase of common treasury shares | |||||||||||
18,225 | 24,750 | 47,807 | 132,392 | 223,652 | 238,933 | 166,473 | 127,663 | 187,163 | 471,007 | 147,144 | 553,284 |
Other, net | |||||||||||
-21,391 | -17,740 | -6,043 | -3,823 | -1,602 | 337 | 7,442 | 31,851 | 14,550 | -2,795 | 21,522 | 168 |
Net cash used in financing activities | |||||||||||
-513,193 | -7,403 | -235,086 | -6,932 | -555,318 | -69,773 | -330,262 | 97,192 | -195,213 | -359,075 | 173,385 | -663,291 |
Net impact on cash due to change in foreign exchange rates | |||||||||||
379 | -31,421 | 12,853 | -15,302 | -66,033 | -22,060 | -10,104 | -3,654 | -2,002 | -2,066 | 7,390 | -92,133 |
Net change in cash and cash equivalents | |||||||||||
206,108 | -132,869 | 155,186 | 31,654 | 89,190 | -165,297 | -65,932 | -6,072 | 268,790 | 127,522 | -619,405 | 182,972 |