XML 21 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows provided by (used in) operating activities    
Net income (loss) $ 1,631,592 $ (1,853,149)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Amortization, accretion and depreciation (121,068) (1,220)
Equity in undistributed (earnings) losses of other ventures (2,566) 16,802
Net realized and unrealized (gains) losses on investments 149,122 1,806,678
Change in:    
Premiums receivable (789,338) (1,697,763)
Prepaid reinsurance premiums (7,504) (378,829)
Reinsurance recoverable 457,666 (700,575)
Deferred acquisition costs (95,350) (331,996)
Reserve for claims and claim expenses 62,592 2,368,325
Unearned premiums 663,389 1,514,937
Reinsurance balances payable (604,675) 297,647
Other 55,279 (170,369)
Net cash provided by (used in) operating activities 1,399,139 870,488
Cash flows provided by (used in) investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 15,300,245 18,502,364
Purchases of fixed maturity investments trading (17,053,131) (19,863,469)
Net sales (purchases) of equity investments 564,316 (337,110)
Net sales (purchases) of short term investments (1,777,188) 365,790
Net sales (purchases) of other investments (525,950) (452,447)
Net sales (purchases) of investments in other ventures (20,171)  
Net sales (purchases) of investments in other ventures   617
Return of investment from investment in other ventures 2,752 2,222
Net cash provided by (used in) investing activities (3,509,127) (1,782,033)
Cash flows provided by (used in) financing activities    
Dividends paid – RenaissanceRe common shares (55,239) (48,576)
Dividends paid – preference shares (26,531) (26,587)
RenaissanceRe common share issuance, net of expenses 1,351,608 0
RenaissanceRe common share repurchases 0 (166,664)
Issuance of debt, net of expenses 740,581 0
Repayment of debt (30,000) 0
Net third-party redeemable noncontrolling interest share transactions 143,721 477,707
Taxes paid on withholding shares (20,004) (10,891)
Net cash provided by (used in) financing activities 2,104,136 224,989
Effect of exchange rate changes on foreign currency cash 7,397 31,778
Net increase (decrease) in cash and cash equivalents 1,545 (654,778)
Cash and cash equivalents, beginning of period 1,194,339 1,859,019
Cash and cash equivalents, end of period $ 1,195,884 $ 1,204,241