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Condensed Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Gross premiums written $ 1,361,280 $ 1,281,477 $ 4,695,327 $ 4,378,944
Net premiums written 1,342,690 1,264,775 4,499,849 4,210,525
Decrease (increase) in unearned premiums 213,924 156,694 (336,384) (433,740)
Net premiums earned 1,556,614 1,421,469 4,163,465 3,776,785
Net investment income 118,176 121,811 365,010 370,017
Net realized and unrealized investment (losses) gains (34,420) 16,118 273,468 (260,154)
Other income 2,223 5,399 11,892 13,205
Total revenues 1,642,593 1,564,797 4,813,835 3,899,853
Expenses        
Losses and loss expenses and life policy benefits 959,543 750,999 2,592,847 2,278,793
Acquisition costs 321,756 282,948 888,937 758,890
Other operating expenses 108,615 108,467 327,149 369,340
Interest expense 12,241 12,233 36,719 36,694
Amortization of intangible assets 7,003 7,045 21,007 21,136
Net foreign exchange (gains) losses (8,206) 1,279 (10,900) 9,822
Total expenses 1,400,952 1,162,971 3,855,759 3,474,675
Income before taxes and interest in earnings of equity method investments 241,641 401,826 958,076 425,178
Income tax expense 45,617 70,232 186,363 37,338
Interest in earnings of equity method investments 5,294 5,941 16,283 9,677
Net income 201,318 337,535 787,996 397,517
Net income attributable to noncontrolling interests (4,920) (4,112) (9,914) (5,296)
Net income attributable to PartnerRe Ltd. 196,398 333,423 778,082 392,221
Preferred dividends 14,184 14,184 42,551 43,678
Loss on redemption of preferred shares 0 0 0 9,135
Net income attributable to PartnerRe Ltd. common shareholders 182,214 319,239 735,531 339,408
Comprehensive income        
Net income attributable to PartnerRe Ltd. 196,398 333,423 778,082 392,221
Change in currency translation adjustment 1,412 14,432 3,209 (16,912)
Change in unfunded pension obligation, net of tax 989 114 979 980
Change in unrealized losses on investments, net of tax (221) (229) (668) (692)
Total other comprehensive income (loss), net of tax 2,180 14,317 3,520 (16,624)
Comprehensive income attributable to PartnerRe Ltd. $ 198,578 $ 347,740 $ 781,602 $ 375,597
Per share data attributable to PartnerRe Ltd.common shareholders        
Basic net income $ 3.68 $ 5.95 $ 14.58 $ 6.04
Diluted net income $ 3.60 [1] $ 5.84 [1] $ 14.26 [1] $ 5.93 [1]
Weighted average number of common shares outstanding 49,514,980 53,671,245 50,461,749 56,176,260
Weighted average number of common shares and common share equivalents outstanding 50,681,325 54,625,151 51,566,134 57,217,561
Dividends declared per common share $ 0.67 $ 0.64 $ 2.01 $ 1.92
[1] Where the exercise price of share based awards is greater than the average market price of the common shares, the common shares are considered anti-dilutive and are excluded from the calculation of weighted average number of common shares and common share equivalents outstanding - diluted.