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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues                      
Gross premiums written $ 905,479 $ 861,068 $ 1,476,908 $ 1,564,295 $ 547,755 $ 625,677 $ 977,343 $ 1,159,652 $ 4,807,750 $ 3,310,427 $ 2,797,540
Net premiums written (Note 7) 725,367 704,130 1,022,965 929,031 411,094 453,255 604,509 663,044 3,381,493 2,131,902 1,871,325
Increase in unearned premiums 244,758 202,618 (111,463) (379,003) 163,519 78,594 (175,124) (222,762) (43,090) (155,773) (153,750)
Net premiums earned (Note 7) 970,125 906,748 911,502 550,028 574,613 531,849 429,385 440,282 3,338,403 1,976,129 1,717,575
Net investment income (Note 5) 112,695 113,844 115,832 81,462 53,338 80,696 71,356 56,476 423,833 261,866 222,209
Net foreign exchange (losses) gains (1,126) (8,275) 9,309 (2,846) (932) (4,566) (10,687) 3,757 (2,938) (12,428) 10,628
Equity in earnings of other ventures (Note 5) 5,874 5,877 6,812 4,661 4,143 7,648 5,826 857 23,224 18,474 8,030
Other income (160) 1,016 922 3,171 5,489 497 1,225 (1,242) 4,949 5,969 9,415
Net realized and unrealized gains (losses) on investments (Note 5) 17,897 31,938 194,003 170,645 (88,654) 13,630 (17,901) (82,144) 414,483 (175,069) 135,822
Total revenues 1,105,305 1,051,148 1,238,380 807,121 547,997 629,754 479,204 417,986 4,201,954 2,074,941 2,103,679
Expenses                      
Net claims and claim expenses incurred (Notes 7 and 8) 762,093 654,520 453,373 227,035 477,638 410,510 60,167 171,703 2,097,021 1,120,018 1,861,428
Acquisition expenses 208,618 202,181 227,482 123,951 120,465 109,761 105,052 97,711 762,232 432,989 346,892
Operational expenses 64,571 53,415 59,814 44,933 58,859 40,593 37,543 41,272 222,733 178,267 160,778
Corporate expenses 17,642 13,844 23,847 38,789 12,108 6,841 8,301 6,733 94,122 33,983 18,572
Interest expense (Note 9) 15,496 15,580 15,534 11,754 11,765 11,769 11,768 11,767 58,364 47,069 44,193
Total expenses 1,068,420 939,540 780,050 446,462 680,835 579,474 222,831 329,186 3,234,472 1,812,326 2,431,863
Income (loss) before taxes 36,885 111,608 458,330 360,659 (132,838) 50,280 256,373 88,800 967,482 262,615 (328,184)
Income tax (expense) benefit (Note 15) 3,455 (3,664) (9,475) (7,531) 8,852 (1,451) (4,506) 3,407 (17,215) 6,302 (26,487)
Net income (loss) 40,340 107,944 448,855 353,128 (123,986) 48,829 251,867 92,207 950,267 268,917 (354,671)
Net (income) loss attributable to redeemable noncontrolling interests (Note 10) 2,622 (62,057) (71,812) (70,222) 49,269 (6,440) (54,483) (29,899) (201,469) (41,553) 132,282
Net income (loss) attributable to RenaissanceRe 42,962 45,887 377,043 282,906 (74,717) 42,389 197,384 62,308 748,798 227,364 (222,389)
Dividends on preference shares (9,189) (9,189) (9,189) (9,189) (9,189) (9,708) (5,596) (5,595) (36,756) (30,088) (22,381)
Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 33,773 $ 36,698 $ 367,854 $ 273,717 $ (83,906) $ 32,681 $ 191,788 $ 56,713 $ 712,042 $ 197,276 $ (244,770)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic (Note 12) (in usd per share) $ 0.77 $ 0.83 $ 8.36 $ 6.43 $ (2.10) $ 0.82 $ 4.78 $ 1.42 $ 16.32 $ 4.91 $ (6.15)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted (Note 12) (in usd per share) $ 0.77 $ 0.83 $ 8.35 $ 6.43 $ (2.10) $ 0.82 $ 4.78 $ 1.42 $ 16.29 $ 4.91 $ (6.15)