XML 20 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues                      
Gross premiums written $ 547,755 $ 625,677 $ 977,343 $ 1,159,652 $ 407,766 $ 640,269 $ 827,415 $ 922,090 $ 3,310,427 $ 2,797,540 $ 2,374,576
Net premiums written (Note 6) 411,094 453,255 604,509 663,044 288,223 483,221 555,745 544,136 2,131,902 1,871,325 1,535,312
Increase in unearned premiums 163,519 78,594 (175,124) (222,762) 133,250 64,571 (173,480) (178,091) (155,773) (153,750) (131,882)
Net premiums earned (Note 6) 574,613 531,849 429,385 440,282 421,473 547,792 382,265 366,045 1,976,129 1,717,575 1,403,430
Net investment income (Note 4) 53,338 80,696 71,356 56,476 73,464 40,257 54,163 54,325 261,866 222,209 181,726
Net foreign exchange (losses) gains (932) (4,566) (10,687) 3,757 (490) (156) 3,109 8,165 (12,428) 10,628 (13,788)
Equity in earnings of other ventures (Note 4) 4,143 7,648 5,826 857 2,200 1,794 5,543 (1,507) 18,474 8,030 963
Other income 5,489 497 1,225 (1,242) 2,362 2,996 2,392 1,665 5,969 9,415 14,178
Net realized and unrealized (losses) gains on investments (Note 4) (88,654) 13,630 (17,901) (82,144) (7,716) 42,052 58,113 43,373 (175,069) 135,822 141,328
Total revenues 547,997 629,754 479,204 417,986 491,293 634,735 505,585 472,066 2,074,941 2,103,679 1,727,837
Expenses                      
Net claims and claim expenses incurred (Notes 6 and 7) 477,638 410,510 60,167 171,703 304,064 1,221,696 142,587 193,081 1,120,018 1,861,428 530,831
Acquisition expenses 120,465 109,761 105,052 97,711 98,598 76,761 88,251 83,282 432,989 346,892 289,323
Operational expenses 58,859 40,593 37,543 41,272 29,192 42,537 41,766 47,283 178,267 160,778 197,749
Corporate expenses 12,108 6,841 8,301 6,733 4,237 4,413 4,636 5,286 33,983 18,572 37,402
Interest expense (Note 8) 11,765 11,769 11,768 11,767 11,777 11,799 10,091 10,526 47,069 44,193 42,144
Total expenses 680,835 579,474 222,831 329,186 447,868 1,357,206 287,331 339,458 1,812,326 2,431,863 1,097,449
Income (loss) before taxes (132,838) 50,280 256,373 88,800 43,425 (722,471) 218,254 132,608 262,615 (328,184) 630,388
Income tax benefit (expense) (Note 14) 8,852 (1,451) (4,506) 3,407 (41,226) 18,977 (3,904) (334) 6,302 (26,487) (340)
Net income (loss) (123,986) 48,829 251,867 92,207 2,199 (703,494) 214,350 132,274 268,917 (354,671) 630,048
Net (income) loss attributable to redeemable noncontrolling interests (Note 9) 49,269 (6,440) (54,483) (29,899) (56) 204,277 (37,612) (34,327) (41,553) 132,282 (127,086)
Net income (loss) attributable to RenaissanceRe (74,717) 42,389 197,384 62,308 2,143 (499,217) 176,738 97,947 227,364 (222,389) 502,962
Dividends on preference shares (9,189) (9,708) (5,596) (5,595) (5,595) (5,595) (5,596) (5,595) (30,088) (22,381) (22,381)
Net income (loss) available (attributable) to RenaissanceRe common shareholders $ (83,906) $ 32,681 $ 191,788 $ 56,713 $ (3,452) $ (504,812) $ 171,142 $ 92,352 $ 197,276 $ (244,770) $ 480,581
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic (Note 12) (in usd per share) $ (2.10) $ 0.82 $ 4.78 $ 1.42 $ (0.09) $ (12.75) $ 4.25 $ 2.26 $ 4.91 $ (6.15) $ 11.50
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted (Note 12) (in usd per share) $ (2.10) $ 0.82 $ 4.78 $ 1.42 $ (0.09) $ (12.75) $ 4.24 $ 2.25 $ 4.91 $ (6.15) $ 11.43