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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Gross premiums written $ 1,618,443 $ 2,220,661 $ 7,060,325 $ 7,628,264
Net premiums written 1,421,260 1,821,711 5,880,766 5,850,544
Decrease (increase) in unearned premiums 334,616 (54,690) (659,078) (1,140,715)
Net premiums earned 1,755,876 1,767,021 5,221,688 4,709,829
Net investment income 329,108 157,793 876,148 348,695
Net foreign exchange gains (losses) (25,886) (1,383) (53,877) (67,690)
Equity in earnings (losses) of other ventures 10,842 1,739 28,072 2,732
Other income (loss) (5,866) 2,834 (6,296) 4,950
Net realized and unrealized gains (losses) on investments (228,087) (641,500) (171,417) (1,968,624)
Total revenues 1,835,987 1,286,504 5,894,318 3,029,892
Expenses        
Net claims and claim expenses incurred 861,576 1,967,931 2,593,987 3,515,903
Acquisition expenses 425,745 417,644 1,280,547 1,155,389
Operational expenses 82,751 64,560 240,716 204,987
Corporate expenses 17,143 10,384 53,357 35,238
Interest expense 22,951 12,101 49,980 35,951
Total expenses 1,410,166 2,472,620 4,218,587 4,947,468
Income (loss) before taxes 425,821 (1,186,116) 1,675,731 (1,917,576)
Income tax benefit (expense) (9,295) (2,814) (44,139) 64,427
Net income (loss) 416,526 (1,188,930) 1,631,592 (1,853,149)
Net (income) loss attributable to redeemable noncontrolling interests (213,695) 372,429 (655,986) 335,010
Net income (loss) attributable to RenaissanceRe 202,831 (816,501) 975,606 (1,518,139)
Dividends on preference shares (8,843) (8,843) (26,531) (26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 193,988 $ (825,344) $ 949,075 $ (1,544,670)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic (in dollars per share) $ 3.81 $ (19.27) $ 20.17 $ (35.84)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted (in dollars per share) $ 3.80 $ (19.27) $ 20.13 $ (35.84)