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SCHEDULE II - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2016
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, 2016
 
December 31, 2015
Assets
 
 
 
 
Fixed maturities, at fair value (amortized cost: 2016, $78,104; 2015, $254,486)
 
$
77,170

 
$
252,538

Cash and cash equivalents
 
23,150

 
94,835

Investments in subsidiaries
 
8,558,696

 
8,187,691

Intercompany loans and balances receivable
 
700,965

 
605,697

Other
 
4,394

 
2,955

Total assets
 
$
9,364,375

 
$
9,143,716

 
 
 
 
 
Liabilities
 
 
 
 
Intercompany loans and balances payable (1)
 
$
2,652,060

 
$
2,211,106

Accounts payable, accrued expenses and other
 
24,403

 
32,109

Total liabilities
 
2,676,463

 
2,243,215

 
 
 
 
 
Shareholders’ Equity
 
 
 
 
Common shares (par value $1.00; issued: 2016, 1 share and 2015, 87,237,220 shares)
 
—

 
87,237

Preferred shares (par value $1.00; issued and outstanding: 2016, 28,169,062 shares; 2015, 34,150,000 shares; aggregate liquidation value: 2016, $704,227; 2015, $853,750)
 
28,169

 
34,150

Additional paid-in capital
 
2,396,530

 
3,982,147

Accumulated other comprehensive loss
 
(74,569
)
 
(83,283
)
Retained earnings
 
4,337,782

 
6,146,802

Common shares held in treasury, at cost (2015, 39,303,068 shares)
 
—

 
(3,266,552
)
Total shareholders’ equity attributable to PartnerRe Ltd.
 
6,687,912

 
6,900,501

Total liabilities and shareholders’ equity attributable to PartnerRe Ltd.
 
$
9,364,375

 
$
9,143,716

 
   
(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 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, and PartnerRe Finance Ireland DAC, direct 100% owned subsidiary of the parent, related to the issuance of $250 million aggregate principal amount of 6.875% senior notes (redeemed in November 2016), $500 million aggregate principal amount of 5.500% senior notes and €750 million aggregate principal amount of 1.250% senior notes, respectively. 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, 2016
 
For the year ended December 31, 2015
 
For the year ended December 31, 2014
Revenues
 
 
 
 
 
 
Net investment income
 
$
2,690

 
$
3,516

 
$
—

Interest income on intercompany loans
 
12,109

 
12,295

 
14,669

Net realized and unrealized investment gains (losses)
 
2,993

 
(1,104
)
 
—

Other income
 
2,483

 
—

 
—

Total revenues
 
20,275

 
14,707

 
14,669

Expenses
 
 
 
 
 
 
Other expenses
 
116,758

 
435,404

 
58,076

Interest expense on intercompany loans
 
7,016

 
6,243

 
1,696

Net foreign exchange gains
 
(10,788
)
 
(3,199
)
 
(3,192
)
Total expenses
 
112,986

 
438,448

 
56,580

Loss before equity in net income of subsidiaries
 
(92,711
)
 
(423,741
)
 
(41,911
)
Equity in net income of subsidiaries
 
540,019

 
528,122

 
1,096,885

Net income attributable to PartnerRe Ltd.
 
447,308

 
104,381

 
1,054,974

Preferred dividends
 
55,043

 
56,735

 
56,735

Loss on redemption of preferred shares
 
4,908

 
—

 
—

Net income attributable to PartnerRe Ltd. common shareholders
 
$
387,357

 
$
47,646

 
$
998,239

Comprehensive income
 
 
 
 
 
 
Net income attributable to PartnerRe Ltd.
 
$
447,308

 
$
104,381

 
$
1,054,974

Total other comprehensive income (loss), net of tax
 
8,714

 
(49,200
)
 
(21,845
)
Comprehensive income attributable to PartnerRe Ltd.
 
$
456,022

 
$
55,181

 
$
1,033,129

PartnerRe Ltd.
Condensed Statements of Cash Flows—Parent Company Only
(Expressed in thousands of U.S. dollars)
 
 
 
For the year ended December 31, 2016
 
For the year ended December 31, 2015
 
For the year ended December 31, 2014
Cash flows from operating activities
 
 
 
 
 
 
Net income attributable to PartnerRe Ltd.
 
$
447,308

 
$
104,381

 
$
1,054,974

Adjustments to reconcile net income to net cash used in operating activities:
 
 
 
 
 
 
Equity in net income of subsidiaries
 
(540,019
)
 
(528,122
)
 
(1,096,885
)
Other, net
 
11,205

 
32,725

 
33,598

Net cash used in operating activities
 
(81,506
)
 
(391,016
)
 
(8,313
)
Cash flows from investing activities
 
 
 
 
 
 
Advances to/from subsidiaries, net
 
(167,254
)
 
97,532

 
(12,635
)
Net issue of intercompany loans receivable and payable
 
542,193

 
5,955

 
2,500

Sales and redemptions of fixed maturities
 
99,888

 
16,818

 
—

Purchases of fixed maturities
 
(7,839
)
 
(25,758
)
 
—

Dividends received from subsidiaries
 
—

 
418,789

 
—

Other, net
 
(2,408
)
 
13,292

 
60

Net cash provided by (used in) investing activities
 
464,580

 
526,628

 
(10,075
)
Cash flows from financing activities
 
 
 
 
 
 
Cash dividends paid to common and preferred shareholders (1)
 
(240,725
)
 
(47,582
)
 
—

Reissuance of treasury shares and issuance of common shares, net of taxes paid
 
—

 
7,996

 
16,785

Redemption of preferred shares
 
(149,523
)
 
—

 
—

Reissuance of treasury shares, net of taxes
 
10,965

 
—

 
—

Settlement of share-based awards upon change in control

 
(75,531
)
 
—

 
—

Net cash (used in) provided by financing activities
 
(454,814
)
 
(39,586
)
 
16,785

Effect of foreign exchange rate changes on cash
 
55

 
(1,562
)
 
688

Increase (decrease) in cash and cash equivalents
 
(71,685
)
 
94,464

 
(915
)
Cash and cash equivalents—beginning of year
 
94,835

 
371

 
1,286

Cash and cash equivalents—end of year
 
$
23,150

 
$
94,835

 
$
371

 
 
(1)
During the years ended December 31, 2016, 2015 and 2014, dividends paid to common and preferred shareholders of $251 million, $143 million and $191 million, respectively and the repurchase of common shares of nil, $71 million and $547 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.