A summary of the significant components of the Company’s revenues and expenses is as follows:




Three months ended June 30, 2016	Catastrophe Reinsurance			Specialty Reinsurance			Lloyd’s			Other			Total
Gross premiums written	$	397,454		$	200,733		$	160,941		$	—		$	759,128
Net premiums written	$	255,645		$	132,420		$	131,851		$	—		$	519,916
Net premiums earned	$	141,616		$	137,168		$	72,618		$	—		$	351,402
Net claims and claim expenses incurred	56,131			67,701			43,832			86			167,750
Acquisition expenses	16,227			34,127			18,651			—			69,005
Operational expenses	18,685			19,959			12,408			21			51,073
Underwriting income (loss)	$	50,573		$	15,381		$	(2,273	)	$	(107	)	63,574
Net investment income										54,124			54,124
Net foreign exchange losses										(690		)	(690		)
Equity in earnings of other ventures										6,022			6,022
Other income										2,654			2,654
Net realized and unrealized gains on investments										69,772			69,772
Corporate expenses										(5,752		)	(5,752		)
Interest expense										(10,536		)	(10,536		)
Income before taxes and redeemable noncontrolling interests													179,168
Income tax expense										(6,612		)	(6,612		)
Net income attributable to redeemable noncontrolling interests										(30,635		)	(30,635		)
Dividends on preference shares										(5,596		)	(5,596		)
Net income available to RenaissanceRe common shareholders													$	136,325

Net claims and claim expenses incurred – current accident year	$	70,321		$	85,117		$	41,567		$	—		$	197,005
Net claims and claim expenses incurred – prior accident years	(14,190		)	(17,416		)	2,265			86			(29,255		)
Net claims and claim expenses incurred – total	$	56,131		$	67,701		$	43,832		$	86		$	167,750

Net claims and claim expense ratio – current accident year	49.7		%	62.1		%	57.2		%				56.1		%
Net claims and claim expense ratio – prior accident years	(10.1		)%	(12.7		)%	3.2		%				(8.4		)%
Net claims and claim expense ratio – calendar year	39.6		%	49.4		%	60.4		%				47.7		%
Underwriting expense ratio	24.7		%	39.4		%	42.7		%				34.2		%
Combined ratio	64.3		%	88.8		%	103.1		%				81.9		%




Six months ended June 30, 2016	Catastrophe Reinsurance			Specialty Reinsurance			Lloyd’s			Other			Total
Gross premiums written	$	757,877		$	569,722		$	293,662		$	—		$	1,621,261
Net premiums written	$	444,430		$	392,511		$	194,650		$	—		$	1,031,591
Net premiums earned	$	278,601		$	292,486		$	133,921		$	—		$	705,008
Net claims and claim expenses incurred	63,951			159,553			70,848			3			294,355
Acquisition expenses	25,807			75,852			32,938			—			134,597
Operational expenses	38,953			41,732			26,542			81			107,308
Underwriting income (loss)	$	149,890		$	15,349		$	3,593		$	(84	)	168,748
Net investment income										82,987			82,987
Net foreign exchange losses										(2,382		)	(2,382		)
Equity in earnings of other ventures										7,633			7,633
Other income										6,733			6,733
Net realized and unrealized gains on investments										131,425			131,425
Corporate expenses										(13,977		)	(13,977		)
Interest expense										(21,074		)	(21,074		)
Income before taxes and redeemable noncontrolling interests													360,093
Income tax expense										(9,356		)	(9,356		)
Net income attributable to redeemable noncontrolling interests										(75,226		)	(75,226		)
Dividends on preference shares										(11,191		)	(11,191		)
Net income available to RenaissanceRe common shareholders													$	264,320

Net claims and claim expenses incurred – current accident year	$	84,204		$	173,495		$	67,515		$	—		$	325,214
Net claims and claim expenses incurred – prior accident years	(20,253		)	(13,942		)	3,333			3			(30,859		)
Net claims and claim expenses incurred – total	$	63,951		$	159,553		$	70,848		$	3		$	294,355

Net claims and claim expense ratio – current accident year	30.2		%	59.3		%	50.4		%				46.1		%
Net claims and claim expense ratio – prior accident years	(7.2		)%	(4.7		)%	2.5		%				(4.3		)%
Net claims and claim expense ratio – calendar year	23.0		%	54.6		%	52.9		%				41.8		%
Underwriting expense ratio	23.2		%	40.2		%	44.4		%				34.3		%
Combined ratio	46.2		%	94.8		%	97.3		%				76.1		%




Three months ended June 30, 2015	Catastrophe Reinsurance			Specialty Reinsurance			Lloyd’s			Other			Total
Gross premiums written	$	385,366		$	160,013		$	116,618		$	—		$	661,997
Net premiums written	$	270,490		$	139,867		$	98,320		$	—		$	508,677
Net premiums earned	$	162,705		$	155,584		$	61,539		$	—		$	379,828
Net claims and claim expenses incurred	55,376			86,062			27,683			223			169,344
Acquisition expenses	19,314			28,251			14,210			(109		)	61,666
Operational expenses	22,090			18,747			13,719			117			54,673
Underwriting income (loss)	$	65,925		$	22,524		$	5,927		$	(231	)	94,145
Net investment income										38,604			38,604
Net foreign exchange losses										(1,740		)	(1,740		)
Equity in earnings of other ventures										6,160			6,160
Other income										1,427			1,427
Net realized and unrealized losses on investments										(26,712		)	(26,712		)
Corporate expenses										(12,868		)	(12,868		)
Interest expense										(9,862		)	(9,862		)
Income before taxes and noncontrolling interests													89,154
Income tax benefit										1,842			1,842
Net income attributable to noncontrolling interests										(12,167		)	(12,167		)
Dividends on preference shares										(5,596		)	(5,596		)
Net income available to RenaissanceRe common shareholders													$	73,233

Net claims and claim expenses incurred – current accident year	$	67,334		$	104,315		$	30,771		$	—		$	202,420
Net claims and claim expenses incurred – prior accident years	(11,958		)	(18,253		)	(3,088		)	223			(33,076		)
Net claims and claim expenses incurred – total	$	55,376		$	86,062		$	27,683		$	223		$	169,344

Net claims and claim expense ratio – current accident year	41.4		%	67.0		%	50.0		%				53.3		%
Net claims and claim expense ratio – prior accident years	(7.4		)%	(11.7		)%	(5.0		)%				(8.7		)%
Net claims and claim expense ratio – calendar year	34.0		%	55.3		%	45.0		%				44.6		%
Underwriting expense ratio	25.5		%	30.2		%	45.4		%				30.6		%
Combined ratio	59.5		%	85.5		%	90.4		%				75.2		%




Six months ended June 30, 2015	Catastrophe Reinsurance			Specialty Reinsurance			Lloyd’s			Other			Total
Gross premiums written (1)	$	774,613		$	284,304		$	246,748		$	(90	)	$	1,305,575
Net premiums written	$	493,130		$	243,782		$	175,889		$	(89	)	$	912,712
Net premiums earned	$	306,472		$	250,460		$	119,745		$	(89	)	$	676,588
Net claims and claim expenses incurred	62,970			125,650			57,526			51			246,197
Acquisition expenses	26,968			48,940			28,903			256			105,067
Operational expenses	42,453			32,037			25,659			145			100,294
Underwriting income (loss)	$	174,081		$	43,833		$	7,657		$	(541	)	225,030
Net investment income										78,311			78,311
Net foreign exchange losses										(4,870		)	(4,870		)
Equity in earnings of other ventures										11,455			11,455
Other income										2,966			2,966
Net realized and unrealized gains on investments										15,037			15,037
Corporate expenses										(58,401		)	(58,401		)
Interest expense										(15,178		)	(15,178		)
Income before taxes and noncontrolling interests													254,350
Income tax benefit										49,746			49,746
Net income attributable to noncontrolling interests										(51,829		)	(51,829		)
Dividends on preference shares										(11,191		)	(11,191		)
Net income available to RenaissanceRe common shareholders													$	241,076

Net claims and claim expenses incurred – current accident year	$	91,458		$	153,579		$	56,381		$	—		$	301,418
Net claims and claim expenses incurred – prior accident years	(28,488		)	(27,929		)	1,145			51			(55,221		)
Net claims and claim expenses incurred – total	$	62,970		$	125,650		$	57,526		$	51		$	246,197

Net claims and claim expense ratio – current accident year	29.8		%	61.3		%	47.1		%				44.5		%
Net claims and claim expense ratio – prior accident years	(9.3		)%	(11.1		)%	0.9		%				(8.1		)%
Net claims and claim expense ratio – calendar year	20.5		%	50.2		%	48.0		%				36.4		%
Underwriting expense ratio	22.7		%	32.3		%	45.6		%				30.3		%
Combined ratio	43.2		%	82.5		%	93.6		%				66.7		%

(1) Included in gross premiums written in the Other category is the elimination of inter-segment gross premiums written of $0.1 million for the six months ended June 30, 2015.