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Quarterly Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
Quarterly Financial Information (Unaudited)
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended
March 31,
 
Quarter Ended
June 30,
 
Quarter Ended
September 30,
 
Quarter Ended
December 31,
 
 
  
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
862,133

 
$
643,578

 
$
759,128

 
$
661,997

 
$
430,224

 
$
369,642

 
$
323,091

 
$
336,093

 
 
Net premiums written
$
511,675

 
$
404,035

 
$
519,916

 
$
508,677

 
$
284,222

 
$
266,820

 
$
219,499

 
$
236,651

 
 
(Increase) decrease in unearned premiums
(158,069
)
 
(107,275
)
 
(168,514
)
 
(128,849
)
 
62,299

 
95,568

 
132,402

 
124,924

 
 
Net premiums earned
353,606

 
296,760

 
351,402

 
379,828

 
346,521

 
362,388

 
351,901

 
361,575

 
 
Net investment income
28,863

 
39,707

 
54,124

 
38,604

 
51,423

 
28,338

 
47,316

 
45,918

 
 
Net foreign exchange (losses) gains
(1,692
)
 
(3,130
)
 
(690
)
 
(1,740
)
 
(5,986
)
 
616

 
(5,420
)
 
1,203

 
 
Equity in earnings (losses) of other ventures
1,611

 
5,295

 
6,022

 
6,160

 
(11,630
)
 
5,730

 
4,960

 
3,296

 
 
Other income
4,079

 
1,539

 
2,654

 
1,427

 
2,268

 
2,306

 
5,177

 
8,200

 
 
Net realized and unrealized gains (losses) on investments
61,653

 
41,749

 
69,772

 
(26,712
)
 
59,870

 
(41,138
)
 
(49,967
)
 
(42,817
)
 
 
Total revenues
448,120

 
381,920

 
483,284

 
397,567

 
442,466

 
358,240

 
353,967

 
377,375

 
 
Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred
126,605

 
76,853

 
167,750

 
169,344

 
112,575

 
100,028

 
123,901

 
102,013

 
 
Acquisition costs
65,592

 
43,401

 
69,005

 
61,666

 
80,580

 
78,126

 
74,146

 
55,399

 
 
Operational expenses
56,235

 
45,621

 
51,073

 
54,673

 
40,493

 
54,518

 
49,948

 
64,300

 
 
Corporate expenses
8,225

 
45,533

 
5,752

 
12,868

 
11,537

 
7,322

 
11,888

 
10,791

 
 
Interest expense
10,538

 
5,316

 
10,536

 
9,862

 
10,536

 
10,542

 
10,534

 
10,550

 
 
Total expenses
267,195

 
216,724

 
304,116

 
308,413

 
255,721

 
250,536

 
270,417

 
243,053

 
 
Income before taxes
180,925

 
165,196

 
179,168

 
89,154

 
186,745

 
107,704

 
83,550

 
134,322

 
 
Income tax (expense) benefit
(2,744
)
 
47,904

 
(6,612
)
 
1,842

 
1,316

 
4,573

 
7,700

 
(8,453
)
 
 
Net income
178,181

 
213,100

 
172,556

 
90,996

 
188,061

 
112,277

 
91,250

 
125,869

 
 
Net income attributable to redeemable noncontrolling interests
(44,591
)
 
(39,662
)
 
(30,635
)
 
(12,167
)
 
(35,641
)
 
(31,153
)
 
(16,219
)
 
(28,068
)
 
 
Net income available to RenaissanceRe
133,590

 
173,438

 
141,921

 
78,829

 
152,420

 
81,124

 
75,031

 
97,801

 
 
Dividends on preference shares
(5,595
)
 
(5,595
)
 
(5,596
)
 
(5,596
)
 
(5,595
)
 
(5,595
)
 
(5,595
)
 
(5,595
)
 
 
Net income available to RenaissanceRe common shareholders
$
127,995

 
$
167,843

 
$
136,325

 
$
73,233

 
$
146,825

 
$
75,529

 
$
69,436

 
$
92,206

 
 
Net income available to RenaissanceRe common shareholders per common share – basic
$
2.97

 
$
4.18

 
$
3.23

 
$
1.60

 
$
3.58

 
$
1.68

 
$
1.70

 
$
2.11

 
 
Net income available to RenaissanceRe common shareholders per common share – diluted
$
2.95

 
$
4.14

 
$
3.22

 
$
1.59

 
$
3.56

 
$
1.66

 
$
1.69

 
$
2.09

 
 
Average shares outstanding – basic
42,577

 
39,631

 
41,693

 
45,303

 
40,513

 
44,564

 
40,474

 
43,131

 
 
Average shares outstanding – diluted
42,912

 
40,021

 
41,885

 
45,657

 
40,733

 
44,913

 
40,707

 
43,513