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Condensed Consolidating Financial Information Provided in Connection with Outstanding Debt of Subsidiaries
12 Months Ended
Dec. 31, 2019
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract]  
Condensed Consolidating Financial Information Provided in Connection with Outstanding Debt of Subsidiaries CONDENSED CONSOLIDATING FINANCIAL INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT OF SUBSIDIARIES
The following tables are provided in connection with outstanding debt of the Company’s subsidiaries and present condensed consolidating balance sheets at December 31, 2019 and 2018, condensed consolidating statements of operations, condensed consolidating statements of comprehensive income (loss) and condensed consolidating statements of cash flows for the years ended December 31, 2019, 2018 and 2017, respectively. Each of RRNAH and RenaissanceRe Finance is a 100% owned subsidiary of RenaissanceRe and has outstanding debt securities. On June 1, 2017, the Platinum Finance Notes matured and the Company repaid the aggregate principal amount plus applicable accrued interest in full. Platinum Finance was subsequently dissolved on November 30, 2017. Prior to the liquidation of Platinum Finance, it was a 100% owned subsidiary of RenaissanceRe and had outstanding debt securities. For additional information related to the terms of the Company’s outstanding debt securities, see “Note 9. Debt and Credit Facilities.”
Condensed Consolidating Balance Sheet at December 31, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings Inc.
(Subsidiary
Issuer)
 
RenaissanceRe Finance, Inc. (Subsidiary Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
Consolidating
Adjustments 
(2)
 
RenaissanceRe
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Total investments
$
190,451

 
$
123,792

 
$
288,137

 
$
16,766,409

 
$

 
$
17,368,789

Cash and cash equivalents
26,460

 
9,440

 
8,731

 
1,334,437

 

 
1,379,068

Investments in subsidiaries
5,204,260

 
48,247

 
1,426,838

 

 
(6,679,345
)
 

Due from subsidiaries and affiliates
10,725

 
101,579

 

 

 
(112,304
)
 

Premiums receivable

 

 

 
2,599,896

 

 
2,599,896

Prepaid reinsurance premiums

 

 

 
767,781

 

 
767,781

Reinsurance recoverable

 

 

 
2,791,297

 

 
2,791,297

Accrued investment income

 
270

 
1,171

 
71,020

 

 
72,461

Deferred acquisition costs and value of business acquired

 

 

 
663,991

 

 
663,991

Receivable for investments sold
173

 

 

 
78,196

 

 
78,369

Other assets
847,406

 
10,978

 
12,211

 
301,578

 
(825,957
)
 
346,216

Goodwill and other intangible assets
116,212

 

 

 
146,014

 

 
262,226

Total assets
$
6,395,687

 
$
294,306

 
$
1,737,088

 
$
25,520,619

 
$
(7,617,606
)
 
$
26,330,094

Liabilities, Noncontrolling Interests and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Reserve for claims and claim expenses
$

 
$

 
$

 
$
9,384,349

 
$

 
$
9,384,349

Unearned premiums

 

 

 
2,530,975

 

 
2,530,975

Debt
391,475

 

 
970,255

 
148,349

 
(125,974
)
 
1,384,105

Amounts due to subsidiaries and affiliates
6,708

 
51

 
102,493

 

 
(109,252
)
 

Reinsurance balances payable

 

 

 
2,830,691

 

 
2,830,691

Payable for investments purchased

 

 

 
225,275

 

 
225,275

Other liabilities
26,137

 
278

 
14,162

 
899,682

 
(8,235
)
 
932,024

Total liabilities
424,320

 
329

 
1,086,910

 
16,019,321

 
(243,461
)
 
17,287,419

Redeemable noncontrolling interests

 

 

 
3,071,308

 

 
3,071,308

Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Total shareholders’ equity
5,971,367

 
293,977

 
650,178

 
6,429,990

 
(7,374,145
)
 
5,971,367

Total liabilities, noncontrolling interests and shareholders’ equity
$
6,395,687

 
$
294,306

 
$
1,737,088

 
$
25,520,619

 
$
(7,617,606
)
 
$
26,330,094


(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Balance Sheet at December 31, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings Inc.
(Subsidiary
Issuer)
 
RenaissanceRe Finance, Inc. (Subsidiary Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
Consolidating
Adjustments 
(2)
 
RenaissanceRe
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Total investments
$
313,360

 
$
77,842

 
$
28,885

 
$
11,465,660

 
$

 
$
11,885,747

Cash and cash equivalents
3,534

 
3,350

 
9,604

 
1,091,434

 

 
1,107,922

Investments in subsidiaries
4,414,475

 
58,458

 
1,215,663

 

 
(5,688,596
)
 

Due from subsidiaries and affiliates
57,039

 
101,579

 

 

 
(158,618
)
 

Premiums receivable

 

 

 
1,537,188

 

 
1,537,188

Prepaid reinsurance premiums

 

 

 
616,185

 

 
616,185

Reinsurance recoverable

 

 

 
2,372,221

 

 
2,372,221

Accrued investment income
1,046

 
310

 
127

 
49,828

 

 
51,311

Deferred acquisition costs

 

 

 
476,661

 

 
476,661

Receivable for investments sold
203

 
23,885

 

 
232,328

 

 
256,416

Other assets
458,842

 
22,571

 
313,636

 
(1,403,636
)
 
743,714

 
135,127

Goodwill and other intangible assets
120,476

 

 

 
116,942

 

 
237,418

Total assets
$
5,368,975

 
$
287,995

 
$
1,567,915

 
$
16,554,811

 
$
(5,103,500
)
 
$
18,676,196

Liabilities, Redeemable Noncontrolling Interest and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Reserve for claims and claim expenses
$

 
$

 
$

 
$
6,076,271

 
$

 
$
6,076,271

Unearned premiums

 

 

 
1,716,021

 

 
1,716,021

Debt
300,000

 

 
843,086

 
148,041

 
(300,000
)
 
991,127

Amounts due to subsidiaries and affiliates
6,453

 
217

 
102,243

 

 
(108,913
)
 

Reinsurance balances payable

 

 

 
1,902,056

 

 
1,902,056

Payable for investments purchased

 
24

 

 
380,308

 

 
380,332

Other liabilities
17,442

 
5,362

 
13,918

 
482,422

 
(5,535
)
 
513,609

Total liabilities
323,895

 
5,603

 
959,247

 
10,705,119

 
(414,448
)
 
11,579,416

Redeemable noncontrolling interests

 

 

 
2,051,700

 

 
2,051,700

Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Total shareholders’ equity
5,045,080

 
282,392

 
608,668

 
3,797,992

 
(4,689,052
)
 
5,045,080

Total liabilities, redeemable noncontrolling interest and shareholders’ equity
$
5,368,975

 
$
287,995

 
$
1,567,915

 
$
16,554,811

 
$
(5,103,500
)
 
$
18,676,196

 
(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.


Condensed Consolidating Statement of Operations for
the year ended December 31, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings Inc.
(Subsidiary
Issuer)
 
RenaissanceRe Finance, Inc. (Subsidiary Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
Consolidating
Adjustments 
(2)
 
RenaissanceRe
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
Net premiums earned
$

 
$

 
$

 
$
3,338,403

 
$

 
$
3,338,403

Net investment income
39,629

 
2,318

 
7,547

 
419,502

 
(45,163
)
 
423,833

Net foreign exchange gains (losses)
7,342

 

 

 
(10,280
)
 

 
(2,938
)
Equity in earnings of other ventures

 

 
3,886

 
19,338

 

 
23,224

Other income

 

 

 
4,949

 

 
4,949

Net realized and unrealized gains on investments
12,393

 
21,557

 
151

 
380,382

 

 
414,483

Total revenues
59,364

 
23,875

 
11,584

 
4,152,294

 
(45,163
)
 
4,201,954

Expenses
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred

 

 

 
2,097,021

 

 
2,097,021

Acquisition expenses

 

 

 
762,232

 

 
762,232

Operational expenses
7,506

 
56

 
38,487

 
207,981

 
(31,297
)
 
222,733

Corporate expenses
58,393

 

 
16

 
43,413

 
(7,700
)
 
94,122

Interest expense
18,086

 

 
37,993

 
2,285

 

 
58,364

Total expenses
83,985

 
56

 
76,496

 
3,112,932

 
(38,997
)
 
3,234,472

(Loss) income before equity in net income of subsidiaries and taxes
(24,621
)
 
23,819

 
(64,912
)
 
1,039,362

 
(6,166
)
 
967,482

Equity in net income of subsidiaries
773,419

 
5,611

 
99,148

 

 
(878,178
)
 

Income before taxes
748,798

 
29,430

 
34,236

 
1,039,362

 
(884,344
)
 
967,482

Income tax (expense) benefit

 
(4,872
)
 
6,510

 
(18,853
)
 

 
(17,215
)
Net income
748,798

 
24,558

 
40,746

 
1,020,509

 
(884,344
)
 
950,267

Net income attributable to redeemable noncontrolling interests

 

 

 
(201,469
)
 

 
(201,469
)
Net income attributable to RenaissanceRe
748,798

 
24,558

 
40,746

 
819,040

 
(884,344
)
 
748,798

Dividends on preference shares
(36,756
)
 

 

 

 

 
(36,756
)
Net income available to RenaissanceRe common shareholders
$
712,042

 
$
24,558

 
$
40,746

 
$
819,040

 
$
(884,344
)
 
$
712,042

 
(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings Inc.
(Subsidiary
Issuer)
 
RenaissanceRe Finance, Inc. (Subsidiary Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
Consolidating
Adjustments 
(2)
 
RenaissanceRe
Consolidated
Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net income
$
748,798

 
$
24,558

 
$
40,746

 
$
1,020,509

 
$
(884,344
)
 
$
950,267

Change in net unrealized gains on investments, net of tax
2,173

 
528

 
764

 

 
(1,292
)
 
2,173

Foreign currency translation adjustments, net of tax
(2,679
)
 

 

 

 

 
(2,679
)
Comprehensive income
748,292

 
25,086

 
41,510

 
1,020,509

 
(885,636
)
 
949,761

Net income attributable to redeemable noncontrolling interests

 

 

 
(201,469
)
 

 
(201,469
)
Comprehensive income attributable to redeemable noncontrolling interests

 

 

 
(201,469
)
 

 
(201,469
)
Comprehensive income available to RenaissanceRe
$
748,292

 
$
25,086

 
$
41,510

 
$
819,040

 
$
(885,636
)
 
$
748,292


(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.

Condensed Consolidating Statement of Operations for the year ended December 31, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe
North
America
Holdings
Inc.
(Subsidiary
Issuer)
 
RenaissanceRe
Finance, Inc.
(Subsidiary
Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
Consolidating
Adjustments 
(2)
 
RenaissanceRe
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
Net premiums earned
$

 
$

 
$

 
$
1,976,129

 
$

 
$
1,976,129

Net investment income
24,791

 
2,193

 
6,219

 
261,192

 
(32,529
)
 
261,866

Net foreign exchange losses
(3
)
 

 

 
(12,425
)
 

 
(12,428
)
Equity in earnings of other ventures

 

 
3,065

 
15,409

 

 
18,474

Other income

 

 

 
5,969

 

 
5,969

Net realized and unrealized gains (losses) on investments
633

 
(4,360
)
 
(329
)
 
(171,013
)
 

 
(175,069
)
Total revenues
25,421

 
(2,167
)
 
8,955

 
2,075,261

 
(32,529
)
 
2,074,941

Expenses
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred

 

 

 
1,120,018

 

 
1,120,018

Acquisition expenses

 

 

 
432,989

 

 
432,989

Operational expenses
7,679

 
110

 
34,534

 
164,605

 
(28,661
)
 
178,267

Corporate expenses
25,190

 

 
7

 
3,103

 
5,683

 
33,983

Interest expense
5,683

 

 
37,019

 
4,367

 

 
47,069

Total expenses
38,552

 
110

 
71,560

 
1,725,082

 
(22,978
)
 
1,812,326

(Loss) income before equity in net income (loss) of subsidiaries and taxes
(13,131
)
 
(2,277
)
 
(62,605
)
 
350,179

 
(9,551
)
 
262,615

Equity in net income (loss) of subsidiaries
240,495

 
5,631

 
9,091

 

 
(255,217
)
 

Income (loss) before taxes
227,364

 
3,354

 
(53,514
)
 
350,179

 
(264,768
)
 
262,615

Income tax benefit (expense)

 
582

 
6,119

 
(399
)
 

 
6,302

Net income (loss)
227,364

 
3,936

 
(47,395
)
 
349,780

 
(264,768
)
 
268,917

Net income attributable to redeemable noncontrolling interests

 

 

 
(41,553
)
 

 
(41,553
)
Net income (loss) attributable to RenaissanceRe
227,364

 
3,936

 
(47,395
)
 
308,227

 
(264,768
)
 
227,364

Dividends on preference shares
(30,088
)
 

 

 

 

 
(30,088
)
Net income (loss) available (attributable) to RenaissanceRe common shareholders
$
197,276

 
$
3,936

 
$
(47,395
)
 
$
308,227

 
$
(264,768
)
 
$
197,276

 
(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Statement of Comprehensive Income (Loss) for the year ended December 31, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe
North
America
Holdings
Inc.
(Subsidiary
Issuer)
 
RenaissanceRe
Finance, Inc.
(Subsidiary
Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
Consolidating
Adjustments 
(2)
 
RenaissanceRe
Consolidated
Comprehensive income (loss)
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
227,364

 
$
3,936

 
$
(47,395
)
 
$
349,780

 
$
(264,768
)
 
$
268,917

Change in net unrealized gains on investments, net of tax
(1,657
)
 
(160
)
 
(162
)
 

 
322

 
(1,657
)
Comprehensive income (loss)
225,707

 
3,776

 
(47,557
)
 
349,780

 
(264,446
)
 
267,260

Net income attributable to redeemable noncontrolling interests

 

 

 
(41,553
)
 

 
(41,553
)
Comprehensive income attributable to redeemable noncontrolling interests

 

 

 
(41,553
)
 

 
(41,553
)
Comprehensive income (loss) available (attributable) to RenaissanceRe
$
225,707

 
$
3,776

 
$
(47,557
)
 
$
308,227

 
$
(264,446
)
 
$
225,707

(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Statement of Operations
for the year ended December 31, 2017
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe 
North
America
Holdings 
Inc.
(Subsidiary
Issuer)
 
Platinum
Underwriters
Finance, Inc.
(Subsidiary
Issuer)
 
RenaissanceRe
Finance, Inc.
(Subsidiary
Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries
and
Eliminations
(Non-guarantor
Subsidiaries)
(1)
 
Consolidating
Adjustments
(2)
 
RenaissanceRe
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Net premiums earned
$

 
$

 
$

 
$

 
$
1,717,575

 
$

 
$
1,717,575

Net investment income
23,109

 
1,947

 
1,373

 
3,090

 
219,490

 
(26,800
)
 
222,209

Net foreign exchange (losses) gains
(1
)
 

 

 

 
10,629

 

 
10,628

Equity in (losses) earnings of other ventures

 

 

 
(223
)
 
8,253

 

 
8,030

Other income

 

 

 

 
9,415

 

 
9,415

Net realized and unrealized (losses) gains on investments
(1,357
)
 
9,621

 
4,916

 
(479
)
 
123,121

 

 
135,822

Total revenues
21,751

 
11,568

 
6,289

 
2,388

 
2,088,483

 
(26,800
)
 
2,103,679

Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred

 

 

 

 
1,861,428

 

 
1,861,428

Acquisition expenses

 

 

 

 
346,892

 

 
346,892

Operational expenses
11,314

 
103

 
85

 
26,063

 
141,572

 
(18,359
)
 
160,778

Corporate expenses
18,546

 

 

 

 
26

 

 
18,572

Interest expense
1,572

 

 
2,461

 
31,657

 
10,075

 
(1,572
)
 
44,193

Total expenses
31,432

 
103

 
2,546

 
57,720

 
2,359,993

 
(19,931
)
 
2,431,863

(Loss) income before equity in net (loss) income of subsidiaries and taxes
(9,681
)
 
11,465

 
3,743

 
(55,332
)
 
(271,510
)
 
(6,869
)
 
(328,184
)
Equity in net (loss) income of subsidiaries
(212,708
)
 
756

 
28,028

 
9,298

 

 
174,626

 

(Loss) income before taxes
(222,389
)
 
12,221

 
31,771

 
(46,034
)
 
(271,510
)
 
167,757

 
(328,184
)
Income tax (expense) benefit

 
(18,147
)
 
(1,175
)
 
7,163

 
(14,328
)
 

 
(26,487
)
Net (loss) income
(222,389
)
 
(5,926
)
 
30,596

 
(38,871
)
 
(285,838
)
 
167,757

 
(354,671
)
Net loss attributable to redeemable noncontrolling interests

 

 

 

 
132,282

 

 
132,282

Net (loss) income attributable to RenaissanceRe
(222,389
)
 
(5,926
)
 
30,596

 
(38,871
)
 
(153,556
)
 
167,757

 
(222,389
)
Dividends on preference shares
(22,381
)
 

 

 

 

 

 
(22,381
)
Net (loss) income (attributable) available to RenaissanceRe common shareholders
$
(244,770
)
 
$
(5,926
)
 
$
30,596

 
$
(38,871
)
 
$
(153,556
)
 
$
167,757

 
$
(244,770
)

(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Statement of Comprehensive Income (Loss) for the year ended December 31, 2017
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe 
North
America
Holdings 
Inc.
(Subsidiary
Issuer)
 
Platinum
Underwriters
Finance, Inc.
(Subsidiary
Issuer)
 
RenaissanceRe
Finance, Inc.
(Subsidiary
Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries
and
Eliminations
(Non-guarantor
Subsidiaries)
(1)
 
Consolidating
Adjustments
(2)
 
RenaissanceRe
Consolidated
Comprehensive (loss) income
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
$
(222,389
)
 
$
(5,926
)
 
$
30,596

 
$
(38,871
)
 
$
(285,838
)
 
$
167,757

 
$
(354,671
)
Change in net unrealized gains on investments, net of tax
(909
)
 
(89
)
 

 
(89
)
 

 
178

 
(909
)
Comprehensive (loss) income
(223,298
)
 
(6,015
)
 
30,596

 
(38,960
)
 
(285,838
)
 
167,935

 
(355,580
)
Net loss attributable to redeemable noncontrolling interests

 

 

 

 
132,282

 

 
132,282

Comprehensive loss attributable to redeemable noncontrolling interests

 

 

 

 
132,282

 

 
132,282

Comprehensive (loss) income (attributable) available to RenaissanceRe
$
(223,298
)
 
$
(6,015
)
 
$
30,596

 
$
(38,960
)
 
$
(153,556
)
 
$
167,935

 
$
(223,298
)

(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2)
Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings Inc.
(Subsidiary
Issuer)
 
RenaissanceRe Finance, Inc. (Subsidiary Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries and
Eliminations
(Non-guarantor
Subsidiaries) 
(1)
 
RenaissanceRe
Consolidated
Cash flows (used in) provided by operating activities
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
(2,861
)
 
$
3,872

 
$
366,934

 
$
1,769,250

 
$
2,137,195

Cash flows provided by (used in) investing activities
 
 
 
 
 
 
 
 
 
Proceeds from sales and maturities of fixed maturity investments trading
306,579

 
77,798

 
60,737

 
16,868,826

 
17,313,940

Purchases of fixed maturity investments trading
(66,740
)
 
(77,145
)
 
(33,577
)
 
(17,741,881
)
 
(17,919,343
)
Net purchases of equity investments trading

 
(3,358
)
 

 
(4,483
)
 
(7,841
)
Net (purchases) sales of short term investments
(116,499
)
 
739

 
(283,717
)
 
(1,501,264
)
 
(1,900,741
)
Net purchases of other investments

 

 

 
(202,878
)
 
(202,878
)
Net purchases of investments in other ventures

 

 

 
(2,717
)
 
(2,717
)
Return of investment from investment in other ventures

 

 

 
11,250

 
11,250

Net sales of other assets

 

 

 
(4,108
)
 
(4,108
)
Dividends and return of capital from subsidiaries
1,400,944

 
4,350

 
13,500

 
(1,418,794
)
 

Contributions to subsidiaries
(1,165,607
)
 

 
(125,000
)
 
1,290,607

 

Due (from) to subsidiary
(625,924
)
 
(166
)
 
250

 
625,840

 

Net purchase of TMR

 

 

 
(276,206
)
 
(276,206
)
Net cash provided by (used in) investing activities
(267,247
)
 
2,218

 
(367,807
)
 
(2,355,808
)
 
(2,988,644
)
Cash flows provided by financing activities
 
 
 
 
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(59,368
)
 

 

 

 
(59,368
)
Dividends paid – preference shares
(36,756
)
 

 

 

 
(36,756
)
Issuance of debt, net of expenses
396,411

 

 

 

 
396,411

Net third-party redeemable noncontrolling interest share transactions

 

 

 
827,083

 
827,083

Taxes paid on withholding shares
(7,253
)
 

 

 

 
(7,253
)
Net cash provided by financing activities
293,034

 

 

 
827,083

 
1,120,117

Effect of exchange rate changes on foreign currency cash

 

 

 
2,478

 
2,478

Net increase (decrease) in cash and cash equivalents
22,926

 
6,090

 
(873
)
 
243,003

 
271,146

Cash and cash equivalents, beginning of period
3,534

 
3,350

 
9,604

 
1,091,434

 
1,107,922

Cash and cash equivalents, end of period
$
26,460

 
$
9,440

 
$
8,731

 
$
1,334,437

 
$
1,379,068

 
(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe
North
America
Holdings
Inc.
(Subsidiary
Issuer)
 
RenaissanceRe
Finance, Inc.
(Subsidiary
Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries
and
Eliminations
(Non-guarantor
Subsidiaries)
(1)
 
RenaissanceRe
Consolidated
Cash flows (used in) provided by operating activities
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
17,187

 
$
6,315

 
$
62,645

 
$
1,135,554

 
$
1,221,701

Cash flows used in investing activities
 
 
 
 
 
 
 
 
 
Proceeds from sales and maturities of fixed maturity investments trading
384,818

 
97,272

 
56,518

 
11,046,968

 
11,585,576

Purchases of fixed maturity investments trading
(520,935
)
 
(72,292
)
 
(55,932
)
 
(11,840,813
)
 
(12,489,972
)
Net (purchases) sales of equity investments trading

 
(1,308
)
 

 
15,464

 
14,156

Net sales (purchases) of short term investments
48,600

 
(404
)
 
455

 
(1,485,040
)
 
(1,436,389
)
Net purchases of other investments

 

 

 
(199,475
)
 
(199,475
)
Net purchases of investments in other ventures

 

 

 
(21,473
)
 
(21,473
)
Return of investment from investment in other ventures

 

 

 
8,464

 
8,464

Net sales of other assets

 

 

 
2,500

 
2,500

Dividends and return of capital from subsidiaries
672,098

 

 

 
(672,098
)
 

Contributions to subsidiaries
(785,785
)
 
(16,847
)
 
(65,000
)
 
867,632

 

Due to (from) subsidiaries
(227,762
)
 
(9,525
)
 
9,449

 
227,838

 

Net cash used in investing activities
(428,966
)
 
(3,104
)
 
(54,510
)
 
(2,050,033
)
 
(2,536,613
)
Cash flows provided by financing activities
 
 
 
 
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(52,841
)
 

 

 

 
(52,841
)
Dividends paid – preference shares
(30,088
)
 

 

 

 
(30,088
)
RenaissanceRe common share issuance
250,000

 

 

 

 
250,000

Issuance of preference shares, net of expenses
241,448

 

 

 

 
241,448

Net third-party redeemable noncontrolling interest share transactions

 

 

 
665,683

 
665,683

Taxes paid on withholding shares
(7,862
)
 

 

 

 
(7,862
)
Net cash provided by financing activities
400,657

 

 

 
665,683

 
1,066,340

Effect of exchange rate changes on foreign currency cash

 

 

 
(5,098
)
 
(5,098
)
Net (decrease) increase in cash and cash equivalents
(11,122
)
 
3,211

 
8,135

 
(253,894
)
 
(253,670
)
Cash and cash equivalents, beginning of period
14,656

 
139

 
1,469

 
1,345,328

 
1,361,592

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

 
$
3,350

 
$
9,604

 
$
1,091,434

 
$
1,107,922


(1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2017
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings Inc.
(Subsidiary
Issuer)
 
Platinum Underwriters Finance, Inc. (Subsidiary Issuer)
 
RenaissanceRe Finance, Inc. (Subsidiary Issuer)
 
Other
RenaissanceRe
Holdings Ltd.
Subsidiaries
and
Eliminations
(Non-guarantor
Subsidiaries)
(1)
 
RenaissanceRe
Consolidated
Cash flows (used in) provided by operating activities
 
 
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$
21,118

 
$
(8,253
)
 
$
(2,272
)
 
$
(347,890
)
 
$
1,363,084

 
$
1,025,787

Cash flows provided by (used in) investing activities
 
 
 
 
 
 
 
 
 
 
 
Proceeds from sales and maturities of fixed maturity investments trading
261,601

 
100,248

 
289,741

 
288,900

 
8,550,179

 
9,490,669

Purchases of fixed maturity investments trading
(344,463
)
 
(99,568
)
 
(143,991
)
 
(275,778
)
 
(9,229,732
)
 
(10,093,532
)
Net (purchases) sales of equity investments trading

 
(1,752
)
 
85,324

 

 
32,265

 
115,837

Net sales (purchases) of short term investments
243,571

 
114

 
41,299

 
(493
)
 
79,520

 
364,011

Net purchases of other investments

 

 

 

 
(19,419
)
 
(19,419
)
Return of investment from investment in other ventures

 

 

 

 
20,000

 
20,000

Dividends and return of capital from subsidiaries
478,496

 
9,175

 

 
41,866

 
(529,537
)
 

Contributions to subsidiaries
(669,672
)
 

 
(26,649
)
 
(9,890
)
 
706,211

 

Due to (from) subsidiary
294,419

 
13

 
(123
)
 
(509
)
 
(293,800
)
 

Net cash provided by (used in) investing activities
263,952

 
8,230

 
245,601

 
44,096

 
(684,313
)
 
(122,434
)
Cash flows (used in) provided by financing activities
 
 
 
 
 
 
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(51,370
)
 

 

 

 

 
(51,370
)
Dividends paid – preference shares
(22,381
)
 

 

 

 

 
(22,381
)
RenaissanceRe common share repurchases
(188,591
)
 

 

 

 

 
(188,591
)
Net repayment of debt

 

 
(250,000
)
 

 

 
(250,000
)
Issuance of debt, net of expenses

 

 

 
295,866

 

 
295,866

Net third-party redeemable noncontrolling interest share transactions

 

 

 

 
260,475

 
260,475

Taxes paid on withholding shares
(15,139
)
 

 

 

 

 
(15,139
)
Net cash (used in) provided by financing activities
(277,481
)
 

 
(250,000
)
 
295,866

 
260,475

 
28,860

Effect of exchange rate changes on foreign currency cash

 

 

 

 
8,222

 
8,222

Net increase (decrease) in cash and cash equivalents
7,589

 
(23
)
 
(6,671
)
 
(7,928
)
 
947,468

 
940,435

Cash and cash equivalents, beginning of year
7,067

 
162

 
6,671

 
9,397

 
397,860

 
421,157

Cash and cash equivalents, end of year
$
14,656

 
$
139

 
$

 
$
1,469

 
$
1,345,328

 
$
1,361,592

(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.