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SEGMENT REPORTING
 9 Months Ended
Sep. 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 September 30, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$511,012 $1,107,431 $— $1,618,443 
Net premiums written$444,872 $976,388 $— $1,421,260 
Net premiums earned$760,365 $995,511 $— $1,755,876 
Net claims and claim expenses incurred206,361 655,215 — 861,576 
Acquisition expenses143,348 282,397 — 425,745 
Operational expenses54,624 28,127 — 82,751 
Underwriting income (loss)$356,032 $29,772 $— 385,804 
Net investment income329,108 329,108 
Net foreign exchange gains (losses)(25,886)(25,886)
Equity in earnings of other ventures10,842 10,842 
Other income (loss)(5,866)(5,866)
Net realized and unrealized gains (losses) on investments(228,087)(228,087)
Corporate expenses(17,143)(17,143)
Interest expense(22,951)(22,951)
Income (loss) before taxes and redeemable noncontrolling interests425,821 
Income tax benefit (expense)(9,295)(9,295)
Net (income) loss attributable to redeemable noncontrolling interests(213,695)(213,695)
Dividends on preference shares(8,843)(8,843)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$193,988 
Net claims and claim expenses incurred – current accident year$350,238 $669,285 $— $1,019,523 
Net claims and claim expenses incurred – prior accident years(143,877)(14,070)— (157,947)
Net claims and claim expenses incurred – total$206,361 $655,215 $— $861,576 
Net claims and claim expense ratio – current accident year46.1 %67.2 %58.1 %
Net claims and claim expense ratio – prior accident years(19.0)%(1.4)%(9.0)%
Net claims and claim expense ratio – calendar year27.1 %65.8 %49.1 %
Underwriting expense ratio26.1 %31.2 %28.9 %
Combined ratio53.2 %97.0 %78.0 %
Nine months ended September 30, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$3,217,817 $3,842,508 $— $7,060,325 
Net premiums written$2,609,356 $3,271,410 $— $5,880,766 
Net premiums earned$2,206,471 $3,015,217 $— $5,221,688 
Net claims and claim expenses incurred675,963 1,918,024 — 2,593,987 
Acquisition expenses429,273 851,274 — 1,280,547 
Operational expenses165,514 75,202 — 240,716 
Underwriting income (loss)$935,721 $170,717 $— 1,106,438 
Net investment income876,148 876,148 
Net foreign exchange gains (losses)(53,877)(53,877)
Equity in earnings of other ventures28,072 28,072 
Other income (loss)(6,296)(6,296)
Net realized and unrealized gains (losses) on investments(171,417)(171,417)
Corporate expenses(53,357)(53,357)
Interest expense(49,980)(49,980)
Income (loss) before taxes and redeemable noncontrolling interests1,675,731 
Income tax benefit (expense)(44,139)(44,139)
Net (income) loss attributable to redeemable noncontrolling interests(655,986)(655,986)
Dividends on preference shares(26,531)(26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$949,075 
Net claims and claim expenses incurred – current accident year$933,172 $1,955,612 $— $2,888,784 
Net claims and claim expenses incurred – prior accident years(257,209)(37,588)— (294,797)
Net claims and claim expenses incurred – total$675,963 $1,918,024 $— $2,593,987 
Net claims and claim expense ratio – current accident year42.3 %64.9 %55.3 %
Net claims and claim expense ratio – prior accident years(11.7)%(1.3)%(5.6)%
Net claims and claim expense ratio – calendar year30.6 %63.6 %49.7 %
Underwriting expense ratio27.0 %30.7 %29.1 %
Combined ratio57.6 %94.3 %78.8 %
Three months ended September 30, 2022PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$800,330 $1,420,331 $— $2,220,661 
Net premiums written$696,520 $1,125,191 $— $1,821,711 
Net premiums earned$839,817 $927,204 $— $1,767,021 
Net claims and claim expenses incurred1,372,583 595,348 — 1,967,931 
Acquisition expenses141,675 275,969 — 417,644 
Operational expenses48,158 16,402 — 64,560 
Underwriting income (loss)$(722,599)$39,485 $— (683,114)
Net investment income157,793 157,793 
Net foreign exchange gains (losses)(1,383)(1,383)
Equity in earnings of other ventures1,739 1,739 
Other income (loss)2,834 2,834 
Net realized and unrealized gains (losses) on investments(641,500)(641,500)
Corporate expenses(10,384)(10,384)
Interest expense(12,101)(12,101)
Income (loss) before taxes and redeemable noncontrolling interests(1,186,116)
Income tax benefit (expense)(2,814)(2,814)
Net (income) loss attributable to redeemable noncontrolling interests372,429 372,429 
Dividends on preference shares(8,843)(8,843)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$(825,344)
Net claims and claim expenses incurred – current accident year$1,396,842 $602,995 $— $1,999,837 
Net claims and claim expenses incurred – prior accident years(24,259)(7,647)— (31,906)
Net claims and claim expenses incurred – total$1,372,583 $595,348 $— $1,967,931 
Net claims and claim expense ratio – current accident year166.3 %65.0 %113.2 %
Net claims and claim expense ratio – prior accident years(2.9)%(0.8)%(1.8)%
Net claims and claim expense ratio – calendar year163.4 %64.2 %111.4 %
Underwriting expense ratio22.6 %31.5 %27.3 %
Combined ratio186.0 %95.7 %138.7 %
Nine months ended September 30, 2022PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$3,362,159 $4,266,105 $— $7,628,264 
Net premiums written$2,474,661 $3,375,883 $— $5,850,544 
Net premiums earned$2,081,989 $2,627,840 $— $4,709,829 
Net claims and claim expenses incurred1,804,268 1,711,635 — 3,515,903 
Acquisition expenses406,338 749,051 — 1,155,389 
Operational expenses144,717 60,270 — 204,987 
Underwriting income (loss)$(273,334)$106,884 $— (166,450)
Net investment income348,695 348,695 
Net foreign exchange gains (losses)(67,690)(67,690)
Equity in earnings of other ventures2,732 2,732 
Other income (loss)4,950 4,950 
Net realized and unrealized gains (losses) on investments(1,968,624)(1,968,624)
Corporate expenses(35,238)(35,238)
Interest expense(35,951)(35,951)
Income (loss) before taxes and redeemable noncontrolling interests(1,917,576)
Income tax benefit (expense)64,427 64,427 
Net (income) loss attributable to redeemable noncontrolling interests335,010 335,010 
Dividends on preference shares(26,531)(26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$(1,544,670)
Net claims and claim expenses incurred – current accident year$1,880,337 $1,728,262 $— $3,608,599 
Net claims and claim expenses incurred – prior accident years(76,069)(16,627)— (92,696)
Net claims and claim expenses incurred – total$1,804,268 $1,711,635 $— $3,515,903 
Net claims and claim expense ratio – current accident year90.3 %65.8 %76.6 %
Net claims and claim expense ratio – prior accident years(3.6)%(0.7)%(1.9)%
Net claims and claim expense ratio – calendar year86.7 %65.1 %74.7 %
Underwriting expense ratio26.4 %30.8 %28.9 %
Combined ratio113.1 %95.9 %103.6 %