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Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2018
Segment Reporting, Measurement Disclosures [Abstract]  
Schedule Of Significant Components Of The Company's Revenues And Expenses By Segment
A summary of the significant components of the Company’s revenues and expenses by segment is as follows:
 
 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2018
Property
 
Casualty and Specialty
 
Other
 
Total
 
 
Gross premiums written
$
706,968

 
$
452,684

 
$

 
$
1,159,652

 
 
Net premiums written
$
354,077

 
$
308,967

 
$

 
$
663,044

 
 
Net premiums earned
$
225,049

 
$
215,233

 
$

 
$
440,282

 
 
Net claims and claim expenses incurred
30,607

 
141,078

 
18

 
171,703

 
 
Acquisition expenses
40,721

 
56,990

 

 
97,711

 
 
Operational expenses
26,546

 
14,593

 
133

 
41,272

 
 
Underwriting income (loss)
$
127,175

 
$
2,572

 
$
(151
)
 
129,596

 
 
Net investment income
 
 
 
 
56,476

 
56,476

 
 
Net foreign exchange gains
 
 
 
 
3,757

 
3,757

 
 
Equity in earnings of other ventures
 
 
 
 
857

 
857

 
 
Other loss
 
 
 
 
(1,242
)
 
(1,242
)
 
 
Net realized and unrealized losses on investments
 
 
 
 
(82,144
)
 
(82,144
)
 
 
Corporate expenses
 
 
 
 
(6,733
)
 
(6,733
)
 
 
Interest expense
 
 
 
 
(11,767
)
 
(11,767
)
 
 
Income before taxes
 
 
 
 
 
 
88,800

 
 
Income tax benefit
 
 
 
 
3,407

 
3,407

 
 
Net income attributable to redeemable noncontrolling interests
 
 
 
 
(29,899
)
 
(29,899
)
 
 
Dividends on preference shares
 
 
 
 
(5,595
)
 
(5,595
)
 
 
Net income available to RenaissanceRe common shareholders
 
 
 
 
 
 
$
56,713

 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred – current accident year
$
58,169

 
$
144,869

 
$

 
$
203,038

 
 
Net claims and claim expenses incurred – prior accident years
(27,562
)
 
(3,791
)
 
18

 
(31,335
)
 
 
Net claims and claim expenses incurred – total
$
30,607

 
$
141,078

 
$
18

 
$
171,703

 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expense ratio – current accident year
25.8
 %
 
67.3
 %
 
 
 
46.1
 %
 
 
Net claims and claim expense ratio – prior accident years
(12.2
)%
 
(1.8
)%
 
 
 
(7.1
)%
 
 
Net claims and claim expense ratio – calendar year
13.6
 %
 
65.5
 %
 
 
 
39.0
 %
 
 
Underwriting expense ratio
29.9
 %
 
33.3
 %
 
 
 
31.6
 %
 
 
Combined ratio
43.5
 %
 
98.8
 %
 
 
 
70.6
 %
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
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 noncontrolling interests
 
 
 
 
 
 
132,608

 
 
Income tax expense
 
 
 
 
(334
)
 
(334
)
 
 
Net income attributable to 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
%