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Schedule II. Condensed Financial Information Of Registrant
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Registrant
SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
RENAISSANCERE HOLDINGS LTD.
BALANCE SHEETS
AT DECEMBER 31, 2017 AND 2016
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
At December 31,
 
2017
 
2016
Assets
 
 
 
Fixed maturity investments trading, at fair value - amortized cost $104,521 at December 31, 2017 (2016 - $22,402)
$
103,638

 
$
22,119

Short term investments, at fair value
121,628

 
365,155

Cash and cash equivalents
14,656

 
7,067

Investments in subsidiaries
4,105,760

 
4,074,769

Due from subsidiaries
4,602

 
7,413

Accrued investment income
405

 
105

Receivable for investments sold
135

 
136

Other assets
433,468

 
410,757

Goodwill and other intangible assets
124,960

 
130,407

Total assets
$
4,909,252

 
$
5,017,928

Liabilities and Shareholders’ Equity
 
 
 
Liabilities
 
 
 
Notes and bank loans payable
$
417,000

 
$
117,000

Due to subsidiaries
82,579

 
14,644

Other liabilities
18,298

 
19,707

Total liabilities
517,877

 
151,351

Shareholders’ Equity
 
 
 
Preference shares: $1.00 par value – 16,000,000 shares issued and outstanding at December 31, 2017 (2016 – 16,000,000)
400,000

 
400,000

Common shares: $1.00 par value – 40,023,789 shares issued and outstanding at December 31, 2017 (2016 – 41,187,413)
40,024

 
41,187

Additional paid-in capital
37,355

 
216,558

Accumulated other comprehensive income
224

 
1,133

Retained earnings
3,913,772

 
4,207,699

Total shareholders’ equity
4,391,375

 
4,866,577

Total liabilities and shareholders’ equity
$
4,909,252

 
$
5,017,928


SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2017, 2016 AND 2015
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2017
 
2016
 
2015
Revenues
 
 
 
 
 
Net investment income
$
23,109

 
$
24,178

 
$
15,391

Net foreign exchange (losses) gains
(1
)
 
(2
)
 
4

Other (loss) income
—

 
(772
)
 
663

Net realized and unrealized (losses) gains on investments
(1,357
)
 
4,151

 
(2,080
)
Total revenues
21,751

 
27,555

 
13,978

Expenses
 
 
 
 
 
Interest expense
1,572

 
562

 
1,255

Operational expenses
11,314

 
13,716

 
4,249

Corporate expenses
18,546

 
26,848

 
40,808

Total expenses
31,432

 
41,126

 
46,312

Loss before equity in net (loss) income of subsidiaries
(9,681
)
 
(13,571
)
 
(32,334
)
Equity in net (loss) income of subsidiaries
(212,708
)
 
516,533

 
463,526

Net (loss) income
(222,389
)
 
502,962

 
431,192

Dividends on preference shares
(22,381
)
 
(22,381
)
 
(22,381
)
Net (loss) income (attributable) available to RenaissanceRe common shareholders
$
(244,770
)
 
$
480,581

 
$
408,811


RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
FOR THE YEARS ENDED DECEMBER 31, 2017, 2016 AND 2015
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2017
 
2016
 
2015
Comprehensive (loss) income
 
 
 
 
 
Net (loss) income
$
(222,389
)
 
$
502,962

 
$
431,192

Comprehensive (loss) income (attributable) available to RenaissanceRe
$
(222,389
)
 
$
502,962

 
$
431,192

SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017, 2016 AND 2015
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2017
 
2016
 
2015
Cash flows used in operating activities:
 
 
 
 
 
Net (loss) income
$
(222,389
)
 
$
502,962

 
$
431,192

Less: equity in net loss (income) of subsidiaries
212,708

 
(516,533
)
 
(463,526
)
 
(9,681
)
 
(13,571
)
 
(32,334
)
Adjustments to reconcile net (loss) income to net cash used in operating activities
 
 
 
 
 
Net realized and unrealized losses (gains) on investments
1,357

 
(4,151
)
 
2,080

Other
4,215

 
14,213

 
1,289

Net cash used in operating activities
(4,109
)
 
(3,509
)
 
(28,965
)
Cash flows provided by investing activities:
 
 
 
 
 
Proceeds from maturities and sales of fixed maturity investments trading
261,601

 
314,568

 
63,824

Purchases of fixed maturity investments trading
(344,463
)
 
(336,345
)
 
(161,183
)
Net sales (purchases) of short term investments
243,571

 
(111,814
)
 
(116,461
)
Dividends and return of capital from subsidiaries
478,496

 
617,239

 
1,584,624

Contributions to subsidiaries
(669,672
)
 
(108,674
)
 
(294,733
)
Due to (from) subsidiary
319,646

 
23,758

 
207,996

Net purchase of Platinum
—

 
—

 
(904,433
)
Net cash provided by investing activities
289,179

 
398,732

 
379,634

Cash flows used in financing activities:
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(51,370
)
 
(51,583
)
 
(53,967
)
Dividends paid – preference shares
(22,381
)
 
(22,381
)
 
(22,381
)
RenaissanceRe common share repurchases
(188,591
)
 
(309,434
)
 
(259,874
)
Taxes paid on withholding shares
(15,139
)
 
(14,943
)
 
(10,248
)
Net cash used in financing activities
(277,481
)
 
(398,341
)
 
(346,470
)
Net increase (decrease) in cash and cash equivalents
7,589

 
(3,118
)
 
4,199

Cash and cash equivalents, beginning of year
7,067

 
10,185

 
5,986

Cash and cash equivalents, end of year
$
14,656

 
$
7,067

 
$
10,185