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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s reportable segments are defined as follows: (1) Property, which is comprised of catastrophe and other property (re)insurance written on behalf of the Company’s consolidated operating subsidiaries, joint ventures and managed funds, and (2) Casualty and Specialty, which is comprised of casualty and specialty (re)insurance written on behalf of the Company’s consolidated operating subsidiaries, joint ventures and managed funds. In addition to its reportable segments, the Company has an Other category, which primarily includes its investments unit, strategic investments, corporate expenses, capital servicing costs, noncontrolling interests and certain expenses related to acquisitions and dispositions.
The Company does not manage its assets by segment; accordingly, net investment income and total assets are not allocated to the segments.
A summary of the significant components of the Company’s revenues and expenses by segment is as follows:
Three months ended June 30, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,402,606 $1,249,015 $— $2,651,621 
Net premiums written$1,144,655 $1,051,148 $— $2,195,803 
Net premiums earned$758,686 $1,026,576 $— $1,785,262 
Net claims and claim expenses incurred281,993 649,218 — 931,211 
Acquisition expenses140,606 281,939 — 422,545 
Operational expenses55,077 25,414 — 80,491 
Underwriting income (loss)$281,010 $70,005 $— 351,015 
Net investment income292,662 292,662 
Net foreign exchange gains (losses)(13,488)(13,488)
Equity in earnings of other ventures7,700 7,700 
Other income (loss)3,876 3,876 
Net realized and unrealized gains (losses) on investments(222,781)(222,781)
Corporate expenses(23,371)(23,371)
Interest expense(14,895)(14,895)
Income (loss) before taxes and redeemable noncontrolling interests380,718 
Income tax benefit (expense)(5,942)(5,942)
Net (income) loss attributable to redeemable noncontrolling interests(174,907)(174,907)
Dividends on preference shares(8,844)(8,844)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$191,025 
Net claims and claim expenses incurred – current accident year$313,632 $649,677 $— $963,309 
Net claims and claim expenses incurred – prior accident years(31,639)(459)— (32,098)
Net claims and claim expenses incurred – total$281,993 $649,218 $— $931,211 
Net claims and claim expense ratio – current accident year41.3 %63.3 %54.0 %
Net claims and claim expense ratio – prior accident years(4.1)%(0.1)%(1.8)%
Net claims and claim expense ratio – calendar year37.2 %63.2 %52.2 %
Underwriting expense ratio25.8 %30.0 %28.1 %
Combined ratio63.0 %93.2 %80.3 %
Six months ended June 30, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$2,706,805 $2,735,077 $— $5,441,882 
Net premiums written$2,164,484 $2,295,022 $— $4,459,506 
Net premiums earned$1,446,106 $2,019,706 $— $3,465,812 
Net claims and claim expenses incurred469,602 1,262,809 — 1,732,411 
Acquisition expenses285,925 568,877 — 854,802 
Operational expenses110,890 47,075 — 157,965 
Underwriting income (loss)$579,689 $140,945 $— 720,634 
Net investment income547,040 547,040 
Net foreign exchange gains (losses)(27,991)(27,991)
Equity in earnings of other ventures17,230 17,230 
Other income (loss)(430)(430)
Net realized and unrealized gains (losses) on investments56,670 56,670 
Corporate expenses(36,214)(36,214)
Interest expense(27,029)(27,029)
Income (loss) before taxes and redeemable noncontrolling interests1,249,910 
Income tax benefit (expense)(34,844)(34,844)
Net (income) loss attributable to redeemable noncontrolling interests(442,291)(442,291)
Dividends on preference shares(17,688)(17,688)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$755,087 
Net claims and claim expenses incurred – current accident year$582,934 $1,286,327 $— $1,869,261 
Net claims and claim expenses incurred – prior accident years(113,332)(23,518)— (136,850)
Net claims and claim expenses incurred – total$469,602 $1,262,809 $— $1,732,411 
Net claims and claim expense ratio – current accident year40.3 %63.7 %53.9 %
Net claims and claim expense ratio – prior accident years(7.8)%(1.2)%(3.9)%
Net claims and claim expense ratio – calendar year32.5 %62.5 %50.0 %
Underwriting expense ratio27.4 %30.5 %29.2 %
Combined ratio59.9 %93.0 %79.2 %
Three months ended June 30, 2022PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,218,321 $1,246,318 $— $2,464,639 
Net premiums written$887,975 $975,641 $— $1,863,616 
Net premiums earned$623,581 $832,802 $— $1,456,383 
Net claims and claim expenses incurred171,924 534,315 — 706,239 
Acquisition expenses137,567 223,671 — 361,238 
Operational expenses49,627 22,893 — 72,520 
Underwriting income (loss)$264,463 $51,923 $— 316,386 
Net investment income107,211 107,211 
Net foreign exchange gains (losses)(50,821)(50,821)
Equity in earnings of other ventures7,383 7,383 
Other income (loss)923 923 
Net realized and unrealized gains (losses) on investments(654,107)(654,107)
Corporate expenses(12,352)(12,352)
Interest expense(11,895)(11,895)
Income (loss) before taxes and redeemable noncontrolling interests(297,272)
Income tax benefit (expense)30,534 30,534 
Net (income) loss attributable to redeemable noncontrolling interests(49,331)(49,331)
Dividends on preference shares(8,844)(8,844)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$(324,913)
Net claims and claim expenses incurred – current accident year$206,976 $542,220 $— $749,196 
Net claims and claim expenses incurred – prior accident years(35,052)(7,905)— (42,957)
Net claims and claim expenses incurred – total$171,924 $534,315 $— $706,239 
Net claims and claim expense ratio – current accident year33.2 %65.1 %51.4 %
Net claims and claim expense ratio – prior accident years(5.6)%(0.9)%(2.9)%
Net claims and claim expense ratio – calendar year27.6 %64.2 %48.5 %
Underwriting expense ratio30.0 %29.6 %29.8 %
Combined ratio57.6 %93.8 %78.3 %
Six months ended June 30, 2022PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$2,561,829 $2,845,774 $— $5,407,603 
Net premiums written$1,778,141 $2,250,692 $— $4,028,833 
Net premiums earned$1,242,172 $1,700,636 $— $2,942,808 
Net claims and claim expenses incurred431,685 1,116,287 — 1,547,972 
Acquisition expenses264,663 473,082 — 737,745 
Operational expenses96,559 43,868 — 140,427 
Underwriting income (loss)$449,265 $67,399 $— 516,664 
Net investment income190,902 190,902 
Net foreign exchange gains (losses)(66,307)(66,307)
Equity in earnings of other ventures993 993 
Other income (loss)2,116 2,116 
Net realized and unrealized gains (losses) on investments(1,327,124)(1,327,124)
Corporate expenses(24,854)(24,854)
Interest expense(23,850)(23,850)
Income (loss) before taxes and redeemable noncontrolling interests(731,460)
Income tax benefit (expense)67,241 67,241 
Net (income) loss attributable to redeemable noncontrolling interests(37,419)(37,419)
Dividends on preference shares(17,688)(17,688)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$(719,326)
Net claims and claim expenses incurred – current accident year$483,495 $1,125,267 $— $1,608,762 
Net claims and claim expenses incurred – prior accident years(51,810)(8,980)— (60,790)
Net claims and claim expenses incurred – total$431,685 $1,116,287 $— $1,547,972 
Net claims and claim expense ratio – current accident year38.9 %66.2 %54.7 %
Net claims and claim expense ratio – prior accident years(4.1)%(0.6)%(2.1)%
Net claims and claim expense ratio – calendar year34.8 %65.6 %52.6 %
Underwriting expense ratio29.0 %30.4 %29.8 %
Combined ratio63.8 %96.0 %82.4 %