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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income $ 3,790.1 $ 793.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 137.5 140.6
Net amortization (accretion) of fixed-income securities (20.1) (5.5)
Amortization of equity-based compensation 48.5 43.8
Net realized (gains) losses on securities (29.3) (198.7)
Net (gains) losses on disposition of property and equipment (1.1) 6.2
Changes in:    
Premiums receivable (2,586.3) (1,856.4)
Reinsurance recoverables 212.5 315.2
Prepaid reinsurance premiums (41.0) 52.6
Deferred acquisition costs (250.9) (141.2)
Income taxes (341.2) (161.1)
Unearned premiums 3,546.7 2,776.5
Loss and loss adjustment expense reserves 2,216.0 2,394.0
Accounts payable, accrued expenses, and other liabilities 1,057.7 760.0
Other, net (237.9) (132.8)
Net cash provided by operating activities 7,501.2 4,786.5 Close
Purchases:    
Fixed maturities (24,532.4) (12,370.9)
Equity securities (32.6) (21.1)
Sales:    
Fixed maturities 13,687.2 2,815.8
Equity securities 98.4 661.4
Maturities, paydowns, calls, and other:    
Fixed maturities 3,234.8 2,153.9
Equity securities 23.3 25.2
Net (purchases) sales of short-term investments 1,087.1 1,413.9
Net change in unsettled security transactions 119.7 282.4
Purchases of property and equipment (118.1) (133.6)
Sales of property and equipment 45.8 28.8
Net cash used in investing activities (6,386.8) (5,144.2) Close
Cash Flows From Financing Activities    
Redemption of Serial Preferred Shares, Series B (500.0) 0.0
Dividends paid to common shareholders (556.5) (117.0)
Dividends paid to preferred shareholders (7.8) (22.9)
Acquisition of treasury shares for equity award tax liabilities (37.9) (33.0)
Acquisition of treasury shares acquired in open market (10.1) (7.1)
Proceeds from Issuance of Debt 0.0 496.3
Net cash provided by (used in) financing activities (1,112.3) 316.3 Close
Increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents 2.1 (41.4) Close
Cash, cash equivalents, restricted cash, and restricted cash equivalents – January 1 99.6 220.9
Cash, cash equivalents, restricted cash, and restricted cash equivalents – June 30 $ 101.7 $ 179.5