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Quarterly Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Data [Abstract]  
Quarterly Financial Information (Unaudited) QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended
March 31,
 
Quarter Ended
June 30,
 
Quarter Ended
September 30,
 
Quarter Ended
December 31,
 
 
  
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross premiums written
$
1,564,295

 
$
1,159,652

 
$
1,476,908

 
$
977,343

 
$
861,068

 
$
625,677

 
$
905,479

 
$
547,755

 
 
Net premiums written
$
929,031

 
$
663,044

 
$
1,022,965

 
$
604,509

 
$
704,130

 
$
453,255

 
$
725,367

 
$
411,094

 
 
(Increase) decrease in unearned premiums
(379,003
)
 
(222,762
)
 
(111,463
)
 
(175,124
)
 
202,618

 
78,594

 
244,758

 
163,519

 
 
Net premiums earned
550,028

 
440,282

 
911,502

 
429,385

 
906,748

 
531,849

 
970,125

 
574,613

 
 
Net investment income
81,462

 
56,476

 
115,832

 
71,356

 
113,844

 
80,696

 
112,695

 
53,338

 
 
Net foreign exchange (losses) gains
(2,846
)
 
3,757

 
9,309

 
(10,687
)
 
(8,275
)
 
(4,566
)
 
(1,126
)
 
(932
)
 
 
Equity in earnings of other ventures
4,661

 
857

 
6,812

 
5,826

 
5,877

 
7,648

 
5,874

 
4,143

 
 
Other income (loss)
3,171

 
(1,242
)
 
922

 
1,225

 
1,016

 
497

 
(160
)
 
5,489

 
 
Net realized and unrealized gains (losses) on investments
170,645

 
(82,144
)
 
194,003

 
(17,901
)
 
31,938

 
13,630

 
17,897

 
(88,654
)
 
 
Total revenues
807,121

 
417,986

 
1,238,380

 
479,204

 
1,051,148

 
629,754

 
1,105,305

 
547,997

 
 
Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred
227,035

 
171,703

 
453,373

 
60,167

 
654,520

 
410,510

 
762,093

 
477,638

 
 
Acquisition costs
123,951

 
97,711

 
227,482

 
105,052

 
202,181

 
109,761

 
208,618

 
120,465

 
 
Operational expenses
44,933

 
41,272

 
59,814

 
37,543

 
53,415

 
40,593

 
64,571

 
58,859

 
 
Corporate expenses
38,789

 
6,733

 
23,847

 
8,301

 
13,844

 
6,841

 
17,642

 
12,108

 
 
Interest expense
11,754

 
11,767

 
15,534

 
11,768

 
15,580

 
11,769

 
15,496

 
11,765

 
 
Total expenses
446,462

 
329,186

 
780,050

 
222,831

 
939,540

 
579,474

 
1,068,420

 
680,835

 
 
Income (loss) before taxes
360,659

 
88,800

 
458,330

 
256,373

 
111,608

 
50,280

 
36,885

 
(132,838
)
 
 
Income tax (expense) benefit
(7,531
)
 
3,407

 
(9,475
)
 
(4,506
)
 
(3,664
)
 
(1,451
)
 
3,455

 
8,852

 
 
Net income (loss)
353,128

 
92,207

 
448,855

 
251,867

 
107,944

 
48,829

 
40,340

 
(123,986
)
 
 
Net (income) loss attributable to redeemable noncontrolling interests
(70,222
)
 
(29,899
)
 
(71,812
)
 
(54,483
)
 
(62,057
)
 
(6,440
)
 
2,622

 
49,269

 
 
Net income (loss) available (attributable) to RenaissanceRe
282,906

 
62,308

 
377,043

 
197,384

 
45,887

 
42,389

 
42,962

 
(74,717
)
 
 
Dividends on preference shares
(9,189
)
 
(5,595
)
 
(9,189
)
 
(5,596
)
 
(9,189
)
 
(9,708
)
 
(9,189
)
 
(9,189
)
 
 
Net income (loss) available (attributable) to RenaissanceRe common shareholders
$
273,717

 
$
56,713

 
$
367,854

 
$
191,788

 
$
36,698

 
$
32,681

 
$
33,773

 
$
(83,906
)
 
 
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic
$
6.43

 
$
1.42

 
$
8.36

 
$
4.78

 
$
0.83

 
$
0.82

 
$
0.77

 
$
(2.10
)
 
 
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted
$
6.43

 
$
1.42

 
$
8.35

 
$
4.78

 
$
0.83

 
$
0.82

 
$
0.77

 
$
(2.10
)
 
 
Average shares outstanding – basic
42,065

 
39,552

 
43,483

 
39,641

 
43,462

 
39,624

 
43,467

 
40,111

 
 
Average shares outstanding – diluted
42,091

 
39,599

 
43,521

 
39,654

 
43,537

 
39,637

 
43,552

 
40,111