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Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues                      
Gross premiums written                 $ 5,932,003us-gaap_AssumedPremiumsWritten $ 5,569,706us-gaap_AssumedPremiumsWritten $ 4,718,235us-gaap_AssumedPremiumsWritten
Net premiums written 1,220,000us-gaap_PremiumsWrittenNet 1,343,000us-gaap_PremiumsWrittenNet 1,419,000us-gaap_PremiumsWrittenNet 1,738,000us-gaap_PremiumsWrittenNet 1,186,000us-gaap_PremiumsWrittenNet 1,265,000us-gaap_PremiumsWrittenNet 1,309,000us-gaap_PremiumsWrittenNet 1,636,000us-gaap_PremiumsWrittenNet 5,719,884us-gaap_PremiumsWrittenNet 5,396,526us-gaap_PremiumsWrittenNet 4,572,860us-gaap_PremiumsWrittenNet
Increase in unearned premiums                 (110,689)us-gaap_IncreaseDecreaseInUnearnedPremiumsNet (198,316)us-gaap_IncreaseDecreaseInUnearnedPremiumsNet (86,921)us-gaap_IncreaseDecreaseInUnearnedPremiumsNet
Net premiums earned 1,446,000us-gaap_PremiumsEarnedNet 1,557,000us-gaap_PremiumsEarnedNet 1,353,000us-gaap_PremiumsEarnedNet 1,254,000us-gaap_PremiumsEarnedNet 1,421,000us-gaap_PremiumsEarnedNet 1,421,000us-gaap_PremiumsEarnedNet 1,209,000us-gaap_PremiumsEarnedNet 1,147,000us-gaap_PremiumsEarnedNet 5,609,195us-gaap_PremiumsEarnedNet 5,198,210us-gaap_PremiumsEarnedNet 4,485,939us-gaap_PremiumsEarnedNet
Net investment income 115,000us-gaap_InvestmentIncomeNet 118,000us-gaap_InvestmentIncomeNet 130,000us-gaap_InvestmentIncomeNet 117,000us-gaap_InvestmentIncomeNet 114,000us-gaap_InvestmentIncomeNet 122,000us-gaap_InvestmentIncomeNet 125,000us-gaap_InvestmentIncomeNet 124,000us-gaap_InvestmentIncomeNet 479,696us-gaap_InvestmentIncomeNet 484,367us-gaap_InvestmentIncomeNet 571,338us-gaap_InvestmentIncomeNet
Net realized and unrealized investment gains (losses) 98,000us-gaap_GainLossOnInvestments (34,000)us-gaap_GainLossOnInvestments 166,000us-gaap_GainLossOnInvestments 142,000us-gaap_GainLossOnInvestments 99,000us-gaap_GainLossOnInvestments 16,000us-gaap_GainLossOnInvestments (299,000)us-gaap_GainLossOnInvestments 23,000us-gaap_GainLossOnInvestments 371,796us-gaap_GainLossOnInvestments (160,735)us-gaap_GainLossOnInvestments 493,409us-gaap_GainLossOnInvestments
Other income 4,000us-gaap_OtherIncome 2,000us-gaap_OtherIncome 9,000us-gaap_OtherIncome 0us-gaap_OtherIncome 3,000us-gaap_OtherIncome 5,000us-gaap_OtherIncome 4,000us-gaap_OtherIncome 4,000us-gaap_OtherIncome 16,190us-gaap_OtherIncome 16,565us-gaap_OtherIncome 11,920us-gaap_OtherIncome
Total revenues 1,663,000us-gaap_Revenues 1,643,000us-gaap_Revenues 1,658,000us-gaap_Revenues 1,513,000us-gaap_Revenues 1,637,000us-gaap_Revenues 1,564,000us-gaap_Revenues 1,039,000us-gaap_Revenues 1,298,000us-gaap_Revenues 6,476,877us-gaap_Revenues 5,538,407us-gaap_Revenues 5,562,606us-gaap_Revenues
Expenses                      
Losses and loss expenses and life policy benefits 870,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 960,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 884,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 749,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 879,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 751,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 867,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 661,000us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 3,462,770us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 3,157,808us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 2,804,610us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
Acquisition costs 325,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 322,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 303,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 265,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 318,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 283,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 242,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 235,000us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 1,213,822us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 1,077,628us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 936,909us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
Other expenses 123,000us-gaap_OtherExpenses 108,000us-gaap_OtherExpenses 107,000us-gaap_OtherExpenses 111,000us-gaap_OtherExpenses 131,000us-gaap_OtherExpenses 108,000us-gaap_OtherExpenses 145,000us-gaap_OtherExpenses 116,000us-gaap_OtherExpenses 449,688us-gaap_OtherExpenses 500,466us-gaap_OtherExpenses 411,374us-gaap_OtherExpenses
Interest expense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 12,000us-gaap_InterestExpense 48,963us-gaap_InterestExpense 48,929us-gaap_InterestExpense 48,895us-gaap_InterestExpense
Amortization of intangible assets 6,000us-gaap_AmortizationOfIntangibleAssets 7,000us-gaap_AmortizationOfIntangibleAssets 7,000us-gaap_AmortizationOfIntangibleAssets 7,000us-gaap_AmortizationOfIntangibleAssets 6,000us-gaap_AmortizationOfIntangibleAssets 7,000us-gaap_AmortizationOfIntangibleAssets 7,000us-gaap_AmortizationOfIntangibleAssets 7,000us-gaap_AmortizationOfIntangibleAssets 27,486us-gaap_AmortizationOfIntangibleAssets 27,180us-gaap_AmortizationOfIntangibleAssets 31,799us-gaap_AmortizationOfIntangibleAssets
Net foreign exchange (gains) losses (7,000)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (8,000)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (2,000)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 0us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 8,000us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 1,000us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 11,000us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (2,000)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (18,201)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 18,203us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 175us-gaap_ForeignCurrencyTransactionGainLossBeforeTax
Total expenses 1,329,000us-gaap_BenefitsLossesAndExpenses 1,401,000us-gaap_BenefitsLossesAndExpenses 1,311,000us-gaap_BenefitsLossesAndExpenses 1,144,000us-gaap_BenefitsLossesAndExpenses 1,354,000us-gaap_BenefitsLossesAndExpenses 1,162,000us-gaap_BenefitsLossesAndExpenses 1,284,000us-gaap_BenefitsLossesAndExpenses 1,029,000us-gaap_BenefitsLossesAndExpenses 5,184,528us-gaap_BenefitsLossesAndExpenses 4,830,214us-gaap_BenefitsLossesAndExpenses 4,233,762us-gaap_BenefitsLossesAndExpenses
Income before taxes and interest in earnings of equity method investments 334,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 242,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 347,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 369,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 283,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 402,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (245,000)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 269,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 1,292,349us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 708,193us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 1,328,844us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 53,000us-gaap_IncomeTaxExpenseBenefit 46,000us-gaap_IncomeTaxExpenseBenefit 78,000us-gaap_IncomeTaxExpenseBenefit 62,000us-gaap_IncomeTaxExpenseBenefit 11,000us-gaap_IncomeTaxExpenseBenefit 70,000us-gaap_IncomeTaxExpenseBenefit (75,000)us-gaap_IncomeTaxExpenseBenefit 42,000us-gaap_IncomeTaxExpenseBenefit 239,506us-gaap_IncomeTaxExpenseBenefit 48,416us-gaap_IncomeTaxExpenseBenefit 204,284us-gaap_IncomeTaxExpenseBenefit
Interest in earnings of equity method investments (1,000)us-gaap_IncomeLossFromEquityMethodInvestments 5,000us-gaap_IncomeLossFromEquityMethodInvestments 5,000us-gaap_IncomeLossFromEquityMethodInvestments 6,000us-gaap_IncomeLossFromEquityMethodInvestments 4,000us-gaap_IncomeLossFromEquityMethodInvestments 6,000us-gaap_IncomeLossFromEquityMethodInvestments (4,000)us-gaap_IncomeLossFromEquityMethodInvestments 7,000us-gaap_IncomeLossFromEquityMethodInvestments 15,270us-gaap_IncomeLossFromEquityMethodInvestments 13,665us-gaap_IncomeLossFromEquityMethodInvestments 9,954us-gaap_IncomeLossFromEquityMethodInvestments
Net income 280,000us-gaap_ProfitLoss 201,000us-gaap_ProfitLoss 274,000us-gaap_ProfitLoss 313,000us-gaap_ProfitLoss 276,000us-gaap_ProfitLoss 338,000us-gaap_ProfitLoss (174,000)us-gaap_ProfitLoss 234,000us-gaap_ProfitLoss 1,068,113us-gaap_ProfitLoss 673,442us-gaap_ProfitLoss 1,134,514us-gaap_ProfitLoss
Net income attributable to noncontrolling interests (3,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (5,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (2,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (3,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (4,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (1,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (13,139)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (9,434)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to PartnerRe Ltd. 277,000us-gaap_NetIncomeLoss 196,000us-gaap_NetIncomeLoss 272,000us-gaap_NetIncomeLoss 310,000us-gaap_NetIncomeLoss 272,000us-gaap_NetIncomeLoss 334,000us-gaap_NetIncomeLoss (175,000)us-gaap_NetIncomeLoss 234,000us-gaap_NetIncomeLoss 1,054,974us-gaap_NetIncomeLoss 664,008us-gaap_NetIncomeLoss 1,134,514us-gaap_NetIncomeLoss
Preferred dividends 14,000us-gaap_DividendsPreferredStock 14,000us-gaap_DividendsPreferredStock 14,000us-gaap_DividendsPreferredStock 14,000us-gaap_DividendsPreferredStock 14,000us-gaap_DividendsPreferredStock 14,000us-gaap_DividendsPreferredStock 15,000us-gaap_DividendsPreferredStock 15,000us-gaap_DividendsPreferredStock 56,735us-gaap_DividendsPreferredStock 57,861us-gaap_DividendsPreferredStock 61,622us-gaap_DividendsPreferredStock
Loss on redemption of preferred shares 0pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 9,000pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares 9,135pre_LossOnRedemptionOfPreferredShares 0pre_LossOnRedemptionOfPreferredShares
Net income attributable to PartnerRe Ltd. common shareholders 263,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 182,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 258,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 296,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 258,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 320,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (190,000)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 210,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 998,239us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 597,012us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 1,072,892us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Comprehensive income                      
Net income attributable to PartnerRe Ltd. 277,000us-gaap_NetIncomeLoss 196,000us-gaap_NetIncomeLoss 272,000us-gaap_NetIncomeLoss 310,000us-gaap_NetIncomeLoss 272,000us-gaap_NetIncomeLoss 334,000us-gaap_NetIncomeLoss (175,000)us-gaap_NetIncomeLoss 234,000us-gaap_NetIncomeLoss 1,054,974us-gaap_NetIncomeLoss 664,008us-gaap_NetIncomeLoss 1,134,514us-gaap_NetIncomeLoss
Change in currency translation adjustment                 (8,892)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax (31,778)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax 28,488us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
Change in unfunded pension obligation, net of tax                 (12,067)us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax 9,861us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax (4,294)us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
Change in unrealized losses on investments, net of tax                 (886)us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax (918)us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax (953)us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
Total other comprehensive (loss) income, net of tax                 (21,845)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent (22,835)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent 23,241us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
Comprehensive income attributable to PartnerRe Ltd.                 $ 1,033,129us-gaap_ComprehensiveIncomeNetOfTax $ 641,173us-gaap_ComprehensiveIncomeNetOfTax $ 1,157,755us-gaap_ComprehensiveIncomeNetOfTax
Per share data attributable to PartnerRe Ltd.common shareholders                      
Basic net income $ 5.39us-gaap_EarningsPerShareBasic $ 3.68us-gaap_EarningsPerShareBasic $ 5.13us-gaap_EarningsPerShareBasic $ 5.72us-gaap_EarningsPerShareBasic $ 4.86us-gaap_EarningsPerShareBasic $ 5.95us-gaap_EarningsPerShareBasic $ (3.37)us-gaap_EarningsPerShareBasic $ 3.60us-gaap_EarningsPerShareBasic $ 19.96us-gaap_EarningsPerShareBasic $ 10.78us-gaap_EarningsPerShareBasic $ 17.05us-gaap_EarningsPerShareBasic
Diluted net income $ 5.26us-gaap_EarningsPerShareDiluted $ 3.60us-gaap_EarningsPerShareDiluted $ 5.02us-gaap_EarningsPerShareDiluted $ 5.61us-gaap_EarningsPerShareDiluted $ 4.76us-gaap_EarningsPerShareDiluted $ 5.84us-gaap_EarningsPerShareDiluted $ (3.37)us-gaap_EarningsPerShareDiluted $ 3.53us-gaap_EarningsPerShareDiluted $ 19.51us-gaap_EarningsPerShareDiluted [1] $ 10.58us-gaap_EarningsPerShareDiluted [1] $ 16.87us-gaap_EarningsPerShareDiluted [1]
Weighted average number of common shares outstanding                 50,019,480us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 55,378,980us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 62,915,992us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average number of common shares and common share equivalents outstanding                 51,174,225us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 56,448,105us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 63,615,748us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
[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.