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Schedule II. Condensed Financial Information Of Registrant
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Registrant
SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
RENAISSANCERE HOLDINGS LTD.
BALANCE SHEETS
AT DECEMBER 31, 2018 AND 2017
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
At December 31,
 
2018
 
2017
Assets
 
 
 
Fixed maturity investments trading, at fair value - amortized cost $238,989 at December 31, 2018 (2017 - $104,521)
$
240,443

 
$
103,638

Short term investments, at fair value
72,917

 
121,628

Cash and cash equivalents
3,534

 
14,656

Investments in subsidiaries
4,414,475

 
4,105,760

Due from subsidiaries
57,039

 
4,602

Accrued investment income
1,046

 
405

Receivable for investments sold
203

 
135

Other assets
458,842

 
433,468

Goodwill and other intangible assets
120,476

 
124,960

Total assets
$
5,368,975

 
$
4,909,252

Liabilities and Shareholders’ Equity
 
 
 
Liabilities
 
 
 
Notes and bank loans payable
$
300,000

 
$
417,000

Due to subsidiaries
6,453

 
82,579

Other liabilities
17,442

 
18,298

Total liabilities
323,895

 
517,877

Shareholders’ Equity
 
 
 
Preference shares: $1.00 par value – 16,010,000 shares issued and outstanding at December 31, 2018 (2017 – 16,000,000)
650,000

 
400,000

Common shares: $1.00 par value – 42,207,390 shares issued and outstanding at December 31, 2018 (2017 – 40,023,789)
42,207

 
40,024

Additional paid-in capital
296,099

 
37,355

Accumulated other comprehensive (loss) income
(1,433
)
 
224

Retained earnings
4,058,207

 
3,913,772

Total shareholders’ equity
5,045,080

 
4,391,375

Total liabilities and shareholders’ equity
$
5,368,975

 
$
4,909,252


SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2018, 2017 AND 2016
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2018
 
2017
 
2016
Revenues
 
 
 
 
 
Net investment income
$
24,791

 
$
23,109

 
$
24,178

Net foreign exchange losses
(3
)
 
(1
)
 
(2
)
Other loss
—

 
—

 
(772
)
Net realized and unrealized gains (losses) on investments
633

 
(1,357
)
 
4,151

Total revenues
25,421

 
21,751

 
27,555

Expenses
 
 
 
 
 
Interest expense
5,683

 
1,572

 
562

Operational expenses
7,679

 
11,314

 
13,716

Corporate expenses
25,190

 
18,546

 
26,848

Total expenses
38,552

 
31,432

 
41,126

Loss before equity in net income (loss) of subsidiaries
(13,131
)
 
(9,681
)
 
(13,571
)
Equity in net income (loss) of subsidiaries
240,495

 
(212,708
)
 
516,533

Net income (loss)
227,364

 
(222,389
)
 
502,962

Dividends on preference shares
(30,088
)
 
(22,381
)
 
(22,381
)
Net income (loss) available (attributable) to RenaissanceRe common shareholders
$
197,276

 
$
(244,770
)
 
$
480,581


RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
FOR THE YEARS ENDED DECEMBER 31, 2018, 2017 AND 2016
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2018
 
2017
 
2016
Comprehensive income (loss)
 
 
 
 
 
Net income (loss)
$
227,364

 
$
(222,389
)
 
$
502,962

Comprehensive income (loss) available (attributable) to RenaissanceRe
$
227,364

 
$
(222,389
)
 
$
502,962

SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2018, 2017 AND 2016
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2018
 
2017
 
2016
Cash flows used in operating activities:
 
 
 
 
 
Net income (loss)
$
227,364

 
$
(222,389
)
 
$
502,962

Less: equity in net (income) loss of subsidiaries
(240,495
)
 
212,708

 
(516,533
)
 
(13,131
)
 
(9,681
)
 
(13,571
)
Adjustments to reconcile net income (loss) to net cash used in operating activities
 
 
 
 
 
Net realized and unrealized (gains) losses on investments
(633
)
 
1,357

 
(4,151
)
Other
4,105

 
4,215

 
14,213

Net cash used in operating activities
(9,659
)
 
(4,109
)
 
(3,509
)
Cash flows (used in) provided by investing activities:
 
 
 
 
 
Proceeds from maturities and sales of fixed maturity investments trading
384,818

 
261,601

 
314,568

Purchases of fixed maturity investments trading
(520,935
)
 
(344,463
)
 
(336,345
)
Net sales (purchases) of short term investments
48,600

 
243,571

 
(111,814
)
Dividends and return of capital from subsidiaries
672,098

 
478,496

 
617,239

Contributions to subsidiaries
(785,785
)
 
(669,672
)
 
(108,674
)
Due to (from) subsidiary
(200,916
)
 
319,646

 
23,758

Net cash (used in) provided by investing activities
(402,120
)
 
289,179

 
398,732

Cash flows provided by (used in) financing activities:
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(52,841
)
 
(51,370
)
 
(51,583
)
Dividends paid – preference shares
(30,088
)
 
(22,381
)
 
(22,381
)
RenaissanceRe common share repurchases
—

 
(188,591
)
 
(309,434
)
RenaissanceRe common share issuance
250,000

 
—

 
—

Issuance of preference shares, net of expenses
241,448

 
—

 
—

Taxes paid on withholding shares
(7,862
)
 
(15,139
)
 
(14,943
)
Net cash provided by (used in) financing activities
400,657

 
(277,481
)
 
(398,341
)
Net (decrease) increase in cash and cash equivalents
(11,122
)
 
7,589

 
(3,118
)
Cash and cash equivalents, beginning of year
14,656

 
7,067

 
10,185

Cash and cash equivalents, end of year
$
3,534

 
$
14,656

 
$
7,067