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SCHEDULE II - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
PartnerRe Ltd.
Condensed Balance Sheets—Parent Company Only
(Expressed in thousands of U.S. dollars, except parenthetical share and per share data)
 
 
 
December 31, 2015
 
December 31, 2014
Assets
 
 
 
 
Fixed maturities, at fair value (amortized cost: 2015, $254,486)
 
$
252,538

 
$
—

Cash and cash equivalents
 
94,835

 
371

Investments in subsidiaries
 
8,187,691

 
8,242,199

Intercompany loans and balances receivable
 
605,697

 
675,408

Other
 
2,955

 
2,476

Total assets
 
$
9,143,716

 
$
8,920,454

 
 
 
 
 
Liabilities
 
 
 
 
Intercompany loans and balances payable (1)
 
$
2,211,106

 
$
1,845,690

Accounts payable, accrued expenses and other
 
32,109

 
25,854

Total liabilities
 
2,243,215

 
1,871,544

 
 
 
 
 
Shareholders’ Equity
 
 
 
 
Common shares (par value $1.00; issued: 2015 and 2014, 87,237,220 shares)
 
87,237

 
87,237

Preferred shares (par value $1.00; issued and outstanding: 2015 and 2014, 34,150,000 shares; aggregate liquidation value: 2015 and 2014, $853,750)
 
34,150

 
34,150

Additional paid-in capital
 
3,982,147

 
3,949,665

Accumulated other comprehensive loss
 
(83,283
)
 
(34,083
)
Retained earnings
 
6,146,802

 
6,270,811

Common shares held in treasury, at cost (2015, 39,303,068 shares; 2014, 39,400,936 shares)
 
(3,266,552
)
 
(3,258,870
)
Total shareholders’ equity attributable to PartnerRe Ltd.
 
6,900,501

 
7,048,910

Total liabilities and shareholders’ equity attributable to PartnerRe Ltd.
 
$
9,143,716

 
$
8,920,454

 
   
(1)
The parent has fully and unconditionally guaranteed on a subordinated basis all obligations of PartnerRe Finance II Inc., an indirect 100% owned finance subsidiary of the parent, related to the remaining $63.4 million aggregate principal amount of 6.440% Fixed-to-Floating Rate Junior Subordinated Capital Efficient Notes (CENts). The parent’s obligations under this guarantee are unsecured and rank junior in priority of payments to the parent’s Senior Notes.

The parent has fully and unconditionally guaranteed all obligations of PartnerRe Finance A and PartnerRe Finance B, indirect 100% owned finance subsidiaries of the parent, related to the issuance of $250 million aggregate principal amount of 6.875% Senior Notes and $500 million aggregate principal amount of 5.500% Senior Notes. The parent’s obligations under these guarantees are senior and unsecured and rank equally with all other senior unsecured indebtedness of the parent.
PartnerRe Ltd.
Condensed Statements of Operations and Comprehensive Income—Parent Company Only
(Expressed in thousands of U.S. dollars)
 
 
 
For the year ended December 31, 2015
 
For the year ended December 31, 2014
 
For the year ended December 31, 2013
Revenues
 
 
 
 
 
 
Net investment income
 
$
3,516

 
$
—

 
$
18

Interest income on intercompany loans
 
12,295

 
14,669

 
11,039

Net realized and unrealized investment losses
 
(1,104
)
 
—

 
—

Total revenues
 
14,707

 
14,669

 
11,057

Expenses
 
 
 
 
 
 
Other expenses (1)
 
435,404

 
58,076

 
91,800

Interest expense on intercompany loans
 
6,243

 
1,696

 
1,867

Net foreign exchange (gains) losses
 
(3,199
)
 
(3,192
)
 
9,895

Total expenses
 
438,448

 
56,580

 
103,562

Loss before equity in net income of subsidiaries
 
(423,741
)
 
(41,911
)
 
(92,505
)
Equity in net income of subsidiaries
 
528,122

 
1,096,885

 
756,513

Net income attributable to PartnerRe Ltd.
 
104,381

 
1,054,974

 
664,008

Preferred dividends
 
56,735

 
56,735

 
57,861

Loss on redemption of preferred shares
 
—

 
—

 
9,135

Net income attributable to PartnerRe Ltd. common shareholders
 
$
47,646

 
$
998,239

 
$
597,012

Comprehensive income
 
 
 
 
 
 
Net income attributable to PartnerRe Ltd.
 
$
104,381

 
$
1,054,974

 
$
664,008

Total other comprehensive loss, net of tax
 
(49,200
)
 
(21,845
)
 
(22,835
)
Comprehensive income attributable to PartnerRe Ltd.
 
$
55,181

 
$
1,033,129

 
$
641,173

 
   
(1)
Other expenses for the year ended December 31, 2015 include the AXIS Termination Fee of $315 million and Transaction Costs of $63 million.
PartnerRe Ltd.
Condensed Statements of Cash Flows—Parent Company Only
(Expressed in thousands of U.S. dollars)
 
 
 
For the year ended December 31, 2015
 
For the year ended December 31, 2014
 
For the year ended December 31, 2013
Cash flows from operating activities
 
 
 
 
 
 
Net income attributable to PartnerRe Ltd.
 
$
104,381

 
$
1,054,974

 
$
664,008

Adjustments to reconcile net income to net cash used in operating activities:
 
 
 
 
 
 
Equity in net income of subsidiaries
 
(528,122
)
 
(1,096,885
)
 
(756,513
)
Other, net
 
32,725

 
33,598

 
27,397

Net cash used in operating activities
 
(391,016
)
 
(8,313
)
 
(65,108
)
Cash flows from investing activities
 
 
 
 
 
 
Advances to/from subsidiaries, net
 
97,532

 
(12,635
)
 
666,444

Net issue of intercompany loans receivable and payable
 
5,955

 
2,500

 
14,473

Sales and redemptions of fixed maturities
 
16,818

 
—

 
—

Purchases of fixed maturities (3)
 
(25,758
)
 
—

 
—

Dividends received from subsidiaries
 
418,789

 
—

 
—

Other, net
 
13,292

 
60

 
196

Net cash provided by (used in) investing activities
 
526,628

 
(10,075
)
 
681,113

Cash flows from financing activities
 
 
 
 
 
 
Cash dividends paid to common and preferred shareholders (2)
 
(47,582
)
 
—

 
(103,311
)
Repurchase of common shares (2)
 
—

 
—

 
(546,617
)
Reissuance of treasury shares and issuance of common shares, net of taxes paid
 
7,996

 
16,785

 
51,111

Net proceeds from issuance of preferred shares
 
—

 
—

 
241,265

Redemption of preferred shares
 
—

 
—

 
(290,000
)
Net cash (used in) provided by financing activities
 
(39,586
)
 
16,785

 
(647,552
)
Effect of foreign exchange rate changes on cash
 
(1,562
)
 
688

 
2,461

Increase (decrease) in cash and cash equivalents
 
94,464

 
(915
)
 
(29,086
)
Cash and cash equivalents—beginning of year
 
371

 
1,286

 
30,372

Cash and cash equivalents—end of year
 
$
94,835

 
$
371

 
$
1,286

Supplemental cash flow information:
 
 
 
 
 
 
Interest paid
 
$
—

 
$
—

 
$
1,528

 
 
(1)
The parent received non-cash dividends from its subsidiaries of $300 million, $833 million and $1,100 million for the years ended December 31, 2015, 2014 and 2013, respectively, which have been excluded from the Condensed Statements of Cash Flows—Parent Company Only.
(2)
During the years ended December 31, 2015, 2014 and 2013, dividends paid to common and preferred shareholders of $143 million, $191 million and $97 million, respectively, and the repurchase of common shares of $71 million, $547 million and $169 million, respectively, were paid by a subsidiary on behalf of the parent and have been excluded from the Condensed Statements of Cash Flows—Parent Company Only.
(3)
During the year ended December 31, 2015, the parent received $248 million of fixed maturities from its subsidiaries, which has been excluded from the Condensed Statements of Cash Flows—Parent Company Only.
(4)
During the year ended December 31, 2015, the parent purchased a subsidiary from another subsidiary for $191 million in exchange for an intercompany loan payable. These transactions have been excluded from the Condensed Statements of Cash Flows—Parent Company Only.