Statutory Requirements (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Actual and Required Statutory Capital and Surplus

The actual statutory capital and surplus, required minimum statutory capital and surplus and restricted net assets of the Company’s regulated insurance operations in its most significant regulatory jurisdictions are detailed below:




	Bermuda (1)				U.S.				U.K. (2) (3)
At December 31,	2016		2015		2016		2015		2016		2015
Actual statutory capital and surplus	$	4,212,787	$	4,878,811	$	523,340	$	521,522	$	491,213	$	485,256
Required statutory capital and surplus	807,108		1,782,778		221,023		219,164		491,213		485,256
Restricted net assets	1,779,319		838,633		324,567		321,362		—		—

(1)

Required statutory capital and surplus of the Company's Bermuda-domiciled insurance subsidiaries is calculated as the greater of the MSM and the ECR, with the ECR being equal to the higher of each insurer's MSM or required capital calculated by reference to the BSCR. The Company's Bermuda-domiciled insurance subsidiaries’ BSCR for the year ended December 31, 2016 will not be filed with the BMA until April 30, 2017. Therefore, at December 31, 2016, actual capital and surplus is based on the relevant insurer’s statutory financial statements and required statutory capital and surplus is based on the MSM of all relevant insurers. Required capital and surplus presented above at December 31, 2015 reflects the higher of the MSM and ECR for all relevant insurers, as described above.

(2)

With respect to actual and required statutory capital and surplus, and as described below, underwriting capacity of a member of Lloyd’s must be supported by providing a deposit in the form of cash, securities or letters of credit, which are referred to as Funds at Lloyd’s (“FAL”). FAL is determined by Lloyd’s and is based on Syndicate 1458’s solvency and capital requirements as calculated through its internal model.


(3)	Syndicate 1458 is capitalized by its FAL, with the related assets not held on its balance sheet. As such, restricted net assets is not applicable to Syndicate 1458; however, the Company can make an application to obtain approval from Lloyd’s to have funds released to RenaissanceRe from Syndicate 1458, subject to passing a Lloyd’s release test.

Schedule of Statutory Net Income

Statutory net income of the Company’s regulated insurance operations in its most significant regulatory jurisdictions are detailed below:




	Statutory Net Income
	Bermuda		U.S. (1)		U.K.
Year ended December 31, 2016	$	625,371	$	43,292	$	28,007
Year ended December 31, 2015	355,132		58,752		1,627
Year ended December 31, 2014	623,931		—		24,433


(1)	Prior to the Company’s acquisition of Platinum on March 2, 2015, the Company did not have any U.S.-domiciled insurance subsidiaries.