XML 41 R30.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2017
Segment Reporting, Measurement Disclosures [Abstract]  
Schedule Of Significant Components Of The Company's Revenues And Expenses
A summary of the significant components of the Company’s revenues and expenses is as follows:
 
 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2017
Property
 
Casualty and Specialty
 
Other
 
Total
 
 
Gross premiums written
$
520,529

 
$
401,561

 
$

 
$
922,090

 
 
Net premiums written
$
289,871

 
$
254,265

 
$

 
$
544,136

 
 
Net premiums earned
$
186,988

 
$
179,059

 
$
(2
)
 
$
366,045

 
 
Net claims and claim expenses incurred
38,838

 
154,571

 
(328
)
 
193,081

 
 
Acquisition expenses
29,103

 
54,179

 

 
83,282

 
 
Operational expenses
27,665

 
19,607

 
11

 
47,283

 
 
Underwriting income (loss)
$
91,382

 
$
(49,298
)
 
$
315

 
42,399

 
 
Net investment income
 
 
 
 
54,325

 
54,325

 
 
Net foreign exchange gains
 
 
 
 
8,165

 
8,165

 
 
Equity in losses of other ventures
 
 
 
 
(1,507
)
 
(1,507
)
 
 
Other income
 
 
 
 
1,665

 
1,665

 
 
Net realized and unrealized gains on investments
 
 
 
 
43,373

 
43,373

 
 
Corporate expenses
 
 
 
 
(5,286
)
 
(5,286
)
 
 
Interest expense
 
 
 
 
(10,526
)
 
(10,526
)
 
 
Income before taxes and redeemable noncontrolling interests
 
 
 
 
 
 
132,608

 
 
Income tax expense
 
 
 
 
(334
)
 
(334
)
 
 
Net income attributable to redeemable noncontrolling interests
 
 
 
 
(34,327
)
 
(34,327
)
 
 
Dividends on preference shares
 
 
 
 
(5,595
)
 
(5,595
)
 
 
Net income available to RenaissanceRe common shareholders
 
 
 
 
 
 
$
92,352

 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred – current accident year
$
39,766

 
$
124,309

 
$

 
$
164,075

 
 
Net claims and claim expenses incurred – prior accident years
(928
)
 
30,262

 
(328
)
 
29,006

 
 
Net claims and claim expenses incurred – total
$
38,838

 
$
154,571

 
$
(328
)
 
$
193,081

 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expense ratio – current accident year
21.3
 %
 
69.4
%
 
 
 
44.8
%
 
 
Net claims and claim expense ratio – prior accident years
(0.5
)%
 
16.9
%
 
 
 
7.9
%
 
 
Net claims and claim expense ratio – calendar year
20.8
 %
 
86.3
%
 
 
 
52.7
%
 
 
Underwriting expense ratio
30.3
 %
 
41.2
%
 
 
 
35.7
%
 
 
Combined ratio
51.1
 %
 
127.5
%
 
 
 
88.4
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2016
Property
 
Casualty and Specialty
 
Other
 
Total
 
 
Gross premiums written
$
444,959

 
$
417,174

 
$

 
$
862,133

 
 
Net premiums written
$
232,859

 
$
278,816

 
$

 
$
511,675

 
 
Net premiums earned
$
175,232

 
$
178,374

 
$

 
$
353,606

 
 
Net claims and claim expenses incurred
21,804

 
104,883

 
(82
)
 
126,605

 
 
Acquisition expenses
20,124

 
45,468

 

 
65,592

 
 
Operational expenses
28,657

 
27,518

 
60

 
56,235

 
 
Underwriting income
$
104,647

 
$
505

 
$
22

 
105,174

 
 
Net investment income
 
 
 
 
28,863

 
28,863

 
 
Net foreign exchange losses
 
 
 
 
(1,692
)
 
(1,692
)
 
 
Equity in earnings of other ventures
 
 
 
 
1,611

 
1,611

 
 
Other income
 
 
 
 
4,079

 
4,079

 
 
Net realized and unrealized gains on investments
 
 
 
 
61,653

 
61,653

 
 
Corporate expenses
 
 
 
 
(8,225
)
 
(8,225
)
 
 
Interest expense
 
 
 
 
(10,538
)
 
(10,538
)
 
 
Income before taxes and redeemable noncontrolling interests
 
 
 
 
 
 
180,925

 
 
Income tax expense
 
 
 
 
(2,744
)
 
(2,744
)
 
 
Net income attributable to noncontrolling interests
 
 
 
 
(44,591
)
 
(44,591
)
 
 
Dividends on preference shares
 
 
 
 
(5,595
)
 
(5,595
)
 
 
Net income available to RenaissanceRe common shareholders
 
 
 
 
 
 
$
127,995

 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred – current accident year
$
27,732

 
$
100,477

 
$

 
$
128,209

 
 
Net claims and claim expenses incurred – prior accident years
(5,928
)
 
4,406

 
(82
)
 
(1,604
)
 
 
Net claims and claim expenses incurred – total
$
21,804

 
$
104,883

 
$
(82
)
 
$
126,605

 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expense ratio – current accident year
15.8
 %
 
56.3
%
 
 
 
36.3
 %
 
 
Net claims and claim expense ratio – prior accident years
(3.4
)%
 
2.5
%
 
 
 
(0.5
)%
 
 
Net claims and claim expense ratio – calendar year
12.4
 %
 
58.8
%
 
 
 
35.8
 %
 
 
Underwriting expense ratio
27.9
 %
 
40.9
%
 
 
 
34.5
 %
 
 
Combined ratio
40.3
 %
 
99.7
%
 
 
 
70.3
 %