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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Gross premiums written $ 2,651,621 $ 2,464,639 $ 5,441,882 $ 5,407,603
Net premiums written 2,195,803 1,863,616 4,459,506 4,028,833
Decrease (increase) in unearned premiums (410,541) (407,233) (993,694) (1,086,025)
Net premiums earned 1,785,262 1,456,383 3,465,812 2,942,808
Net investment income 292,662 107,211 547,040 190,902
Net foreign exchange gains (losses) (13,488) (50,821) (27,991) (66,307)
Equity in earnings (losses) of other ventures 7,700 7,383 17,230 993
Other income (loss) 3,876 923 (430) 2,116
Net realized and unrealized gains (losses) on investments (222,781) (654,107) 56,670 (1,327,124)
Total revenues 1,853,231 866,972 4,058,331 1,743,388
Expenses        
Net claims and claim expenses incurred 931,211 706,239 1,732,411 1,547,972
Acquisition expenses 422,545 361,238 854,802 737,745
Operational expenses 80,491 72,520 157,965 140,427
Corporate expenses 23,371 12,352 36,214 24,854
Interest expense 14,895 11,895 27,029 23,850
Total expenses 1,472,513 1,164,244 2,808,421 2,474,848
Income (loss) before taxes 380,718 (297,272) 1,249,910 (731,460)
Income tax benefit (expense) (5,942) 30,534 (34,844) 67,241
Net income (loss) 374,776 (266,738) 1,215,066 (664,219)
Net (income) loss attributable to redeemable noncontrolling interests (174,907) (49,331) (442,291) (37,419)
Net income (loss) attributable to RenaissanceRe 199,869 (316,069) 772,775 (701,638)
Dividends on preference shares (8,844) (8,844) (17,688) (17,688)
Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 191,025 $ (324,913) $ 755,087 $ (719,326)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic (in dollars per share) $ 4.10 $ (7.53) $ 16.75 $ (16.64)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted (in dollars per share) 4.09 (7.53) 16.71 (16.64)
Dividends per common share (in dollars per share) $ 0.38 $ 0.37 $ 0.76 $ 0.74