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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues                      
Gross premiums written                 $ 5,547,525 $ 5,932,003 $ 5,569,706
Net premiums written $ 1,064,000 $ 1,190,000 $ 1,322,000 $ 1,653,000 $ 1,220,000 $ 1,343,000 $ 1,419,000 $ 1,738,000 5,229,548 5,719,884 5,396,526
Decrease (increase) in unearned premiums                 39,630 (110,689) (198,316)
Net premiums earned 1,294,000 1,412,000 1,328,000 1,235,000 1,446,000 1,557,000 1,353,000 1,254,000 5,269,178 5,609,195 5,198,210
Net investment income 108,000 117,000 120,000 105,000 115,000 118,000 130,000 117,000 449,784 479,696 484,367
Net realized and unrealized investment (losses) gains (24,000) (133,000) (256,000) 116,000 98,000 (34,000) 166,000 142,000 (297,479) 371,796 (160,735)
Other income 1,000 3,000 0 4,000 4,000 2,000 9,000 0 9,144 16,190 16,565
Total revenues 1,379,000 1,399,000 1,192,000 1,460,000 1,663,000 1,643,000 1,658,000 1,513,000 5,430,627 6,476,877 5,538,407
Expenses                      
Losses and loss expenses and life policy benefits 767,000 804,000 865,000 721,000 870,000 960,000 884,000 749,000 3,157,420 3,462,770 3,157,808
Acquisition costs 311,000 347,000 283,000 276,000 325,000 322,000 303,000 265,000 1,217,003 1,213,822 1,077,628
Other expenses 120,000 416,000 130,000 125,000 123,000 108,000 107,000 111,000 790,723 449,688 500,466
Interest expense 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 48,988 48,963 48,929
Amortization of intangible assets 6,000 7,000 7,000 7,000 6,000 7,000 7,000 7,000 26,593 27,486 27,180
Net foreign exchange losses (gains) (6,000) 22,000 6,000 (13,000) (7,000) (8,000) (2,000) 0 9,461 (18,201) 18,203
Total expenses 1,210,000 1,608,000 1,303,000 1,128,000 1,329,000 1,401,000 1,311,000 1,144,000 5,250,188 5,184,528 4,830,214
Income before taxes and interest in earnings of equity method investments 169,000 (209,000) (111,000) 332,000 334,000 242,000 347,000 369,000 180,439 1,292,349 708,193
Income tax expense (3,000) 17,000 (14,000) 80,000 53,000 46,000 78,000 62,000 79,664 239,506 48,416
Interest in earnings of equity method investments 5,000 (3,000) 8,000 (4,000) (1,000) 5,000 5,000 6,000 6,375 15,270 13,665
Net income 177,000 (229,000) (89,000) 248,000 280,000 201,000 274,000 313,000 107,150 1,068,113 673,442
Net income attributable to noncontrolling interests 0 0 0 (2,000) (3,000) (5,000) (2,000) (3,000) (2,769) (13,139) (9,434)
Net income attributable to PartnerRe Ltd. 177,000 (229,000) (89,000) 246,000 277,000 196,000 272,000 310,000 104,381 1,054,974 664,008
Preferred dividends 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 56,735 56,735 57,861
Loss on redemption of preferred shares                 0 0 9,135
Net income attributable to PartnerRe Ltd. common shareholders 163,000 (243,000) (103,000) 232,000 263,000 182,000 258,000 296,000 47,646 998,239 597,012
Comprehensive income                      
Net income attributable to PartnerRe Ltd. $ 177,000 $ (229,000) $ (89,000) $ 246,000 $ 277,000 $ 196,000 $ 272,000 $ 310,000 104,381 1,054,974 664,008
Change in currency translation adjustment                 (46,055) (8,892) (31,778)
Change in unfunded pension obligation, net of tax                 (2,285) (12,067) 9,861
Change in unrealized losses on investments, net of tax                 (860) (886) (918)
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
Net income per common share:                      
Basic net income $ 3.39 $ (5.08) $ (2.16) $ 4.88 $ 5.39 $ 3.68 $ 5.13 $ 5.72 $ 1.00 $ 19.96 $ 10.78
Diluted net income $ 3.30 $ (5.08) $ (2.16) $ 4.76 $ 5.26 $ 3.60 $ 5.02 $ 5.61 $ 0.97 [1] $ 19.51 [1] $ 10.58 [1]
Weighted average number of common shares outstanding                 47,771,673 50,019,480 55,378,980
Weighted average number of common shares and common share equivalents outstanding                 48,939,870 51,174,225 56,448,105
[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.