Bermuda | 001-14428 | 98-014-1974 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Renaissance House 12 Crow Lane, Pembroke Bermuda | HM 19 | |
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. | Results of Operations and Financial Condition. |
Item 9.01. | Financial Statements and Exhibits. |
Exhibit # | Description | |
99.1* | Supplemental Financial Data - Segment Information | |
99.2* | Supplemental Financial Data - Gross Premiums Written and Managed Catastrophe Premiums |
* | Exhibits 99.1 and 99.2 are being furnished to the SEC pursuant to Item 2.02 and are not being filed with the SEC. Therefore, these exhibits are not incorporated by reference in any of the registrant’s other SEC filings. |
RENAISSANCERE HOLDINGS LTD. | ||||
Date: | By: | /s/ Robert Qutub | ||
December 6, 2016 | Robert Qutub | |||
Executive Vice President and Chief Financial Officer |
Exhibit # | Description | |
99.1* | Supplemental Financial Data - Segment Information | |
99.2* | Supplemental Financial Data - Gross Premiums Written and Managed Catastrophe Premiums |
* | Exhibits 99.1 and 99.2 are being furnished to the SEC pursuant to Item 2.02 and are not being filed with the SEC. Therefore, these exhibits are not incorporated by reference in any of the registrant’s other SEC filings. |
Property | |||||||||||||||||||||||||
Three months ended March 31, 2016 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 373,017 | $ | 71,942 | $ | 444,959 | $ | 417,174 | $ | — | $ | 862,133 | |||||||||||||
Net premiums written | $ | 184,267 | $ | 48,592 | $ | 232,859 | $ | 278,816 | $ | — | $ | 511,675 | |||||||||||||
Net premiums earned | $ | 143,111 | $ | 32,121 | $ | 175,232 | $ | 178,374 | $ | — | $ | 353,606 | |||||||||||||
Net claims and claim expenses incurred | 4,722 | 17,082 | 21,804 | 104,883 | (82 | ) | 126,605 | ||||||||||||||||||
Acquisition expenses | 10,829 | 9,295 | 20,124 | 45,468 | — | 65,592 | |||||||||||||||||||
Operational expenses | 23,050 | 5,607 | 28,657 | 27,518 | 60 | 56,235 | |||||||||||||||||||
Underwriting income (loss) | $ | 104,510 | $ | 137 | $ | 104,647 | $ | 505 | $ | 22 | 105,174 | ||||||||||||||
Net investment income | 28,863 | 28,863 | |||||||||||||||||||||||
Net foreign exchange losses | (1,692 | ) | (1,692 | ) | |||||||||||||||||||||
Equity in earnings of other ventures | 1,611 | 1,611 | |||||||||||||||||||||||
Other income | 4,079 | 4,079 | |||||||||||||||||||||||
Net realized and unrealized gains on investments | 61,653 | 61,653 | |||||||||||||||||||||||
Corporate expenses | (8,225 | ) | (8,225 | ) | |||||||||||||||||||||
Interest expense | (10,538 | ) | (10,538 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 180,925 | ||||||||||||||||||||||||
Income tax expense | (2,744 | ) | (2,744 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (44,591 | ) | (44,591 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 127,995 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 11,352 | $ | 16,380 | $ | 27,732 | $ | 100,477 | $ | — | $ | 128,209 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (6,630 | ) | 702 | (5,928 | ) | 4,406 | (82 | ) | (1,604 | ) | |||||||||||||||
Net claims and claim expenses incurred – total | $ | 4,722 | $ | 17,082 | $ | 21,804 | $ | 104,883 | $ | (82 | ) | $ | 126,605 | ||||||||||||
Net claims and claim expense ratio – current accident year | 7.9 | % | 51.0 | % | 15.8 | % | 56.3 | % | 36.3 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (4.6 | )% | 2.2 | % | (3.4 | )% | 2.5 | % | (0.5 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 3.3 | % | 53.2 | % | 12.4 | % | 58.8 | % | 35.8 | % | |||||||||||||||
Underwriting expense ratio | 23.7 | % | 46.4 | % | 27.9 | % | 40.9 | % | 34.5 | % | |||||||||||||||
Combined ratio | 27.0 | % | 99.6 | % | 40.3 | % | 99.7 | % | 70.3 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended June 30, 2016 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 432,033 | $ | 61,920 | $ | 493,953 | $ | 265,175 | $ | — | $ | 759,128 | |||||||||||||
Net premiums written | $ | 290,195 | $ | 60,398 | $ | 350,593 | $ | 169,323 | $ | — | $ | 519,916 | |||||||||||||
Net premiums earned | $ | 151,201 | $ | 39,859 | $ | 191,060 | $ | 160,342 | $ | — | $ | 351,402 | |||||||||||||
Net claims and claim expenses incurred | 59,505 | 20,770 | 80,275 | 87,390 | 85 | 167,750 | |||||||||||||||||||
Acquisition expenses | 18,817 | 10,572 | 29,389 | 39,616 | — | 69,005 | |||||||||||||||||||
Operational expenses | 21,080 | 5,446 | 26,526 | 24,526 | 21 | 51,073 | |||||||||||||||||||
Underwriting income (loss) | $ | 51,799 | $ | 3,071 | $ | 54,870 | $ | 8,810 | $ | (106 | ) | 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 noncontrolling interests | 179,168 | ||||||||||||||||||||||||
Income tax expense | (6,612 | ) | (6,612 | ) | |||||||||||||||||||||
Net income attributable to 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 | $ | 73,311 | $ | 20,025 | $ | 93,336 | $ | 103,669 | $ | — | $ | 197,005 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (13,806 | ) | 745 | (13,061 | ) | (16,279 | ) | 85 | (29,255 | ) | |||||||||||||||
Net claims and claim expenses incurred – total | $ | 59,505 | $ | 20,770 | $ | 80,275 | $ | 87,390 | $ | 85 | $ | 167,750 | |||||||||||||
Net claims and claim expense ratio – current accident year | 48.5 | % | 50.2 | % | 48.9 | % | 64.7 | % | 56.1 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (9.1 | )% | 1.9 | % | (6.9 | )% | (10.2 | )% | (8.4 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 39.4 | % | 52.1 | % | 42.0 | % | 54.5 | % | 47.7 | % | |||||||||||||||
Underwriting expense ratio | 26.3 | % | 40.2 | % | 29.3 | % | 40.0 | % | 34.2 | % | |||||||||||||||
Combined ratio | 65.7 | % | 92.3 | % | 71.3 | % | 94.5 | % | 81.9 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Six months ended June 30, 2016 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 805,050 | $ | 133,862 | $ | 938,912 | $ | 682,349 | $ | — | $ | 1,621,261 | |||||||||||||
Net premiums written | $ | 474,462 | $ | 108,990 | $ | 583,452 | $ | 448,139 | $ | — | $ | 1,031,591 | |||||||||||||
Net premiums earned | $ | 294,312 | $ | 71,980 | $ | 366,292 | $ | 338,716 | $ | — | $ | 705,008 | |||||||||||||
Net claims and claim expenses incurred | 64,227 | 37,852 | 102,079 | 192,273 | 3 | 294,355 | |||||||||||||||||||
Acquisition expenses | 29,646 | 19,867 | 49,513 | 85,084 | — | 134,597 | |||||||||||||||||||
Operational expenses | 44,130 | 11,053 | 55,183 | 52,044 | 81 | 107,308 | |||||||||||||||||||
Underwriting income (loss) | $ | 156,309 | $ | 3,208 | $ | 159,517 | $ | 9,315 | $ | (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 noncontrolling interests | 360,093 | ||||||||||||||||||||||||
Income tax expense | (9,356 | ) | (9,356 | ) | |||||||||||||||||||||
Net income attributable to 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 | $ | 84,663 | $ | 36,405 | $ | 121,068 | $ | 204,146 | $ | — | $ | 325,214 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (20,436 | ) | 1,447 | (18,989 | ) | (11,873 | ) | 3 | (30,859 | ) | |||||||||||||||
Net claims and claim expenses incurred – total | $ | 64,227 | $ | 37,852 | $ | 102,079 | $ | 192,273 | $ | 3 | $ | 294,355 | |||||||||||||
Net claims and claim expense ratio – current accident year | 28.8 | % | 50.6 | % | 33.1 | % | 60.3 | % | 46.1 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (7.0 | )% | 2.0 | % | (5.2 | )% | (3.5 | )% | (4.3 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 21.8 | % | 52.6 | % | 27.9 | % | 56.8 | % | 41.8 | % | |||||||||||||||
Underwriting expense ratio | 25.1 | % | 42.9 | % | 28.6 | % | 40.4 | % | 34.3 | % | |||||||||||||||
Combined ratio | 46.9 | % | 95.5 | % | 56.5 | % | 97.2 | % | 76.1 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended September 30, 2016 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 71,606 | $ | 48,298 | $ | 119,904 | $ | 310,320 | $ | — | $ | 430,224 | |||||||||||||
Net premiums written | $ | 42,033 | $ | 48,876 | $ | 90,909 | $ | 193,313 | $ | — | $ | 284,222 | |||||||||||||
Net premiums earned | $ | 130,014 | $ | 42,647 | $ | 172,661 | $ | 173,860 | $ | — | $ | 346,521 | |||||||||||||
Net claims and claim expenses incurred | 1,906 | 21,633 | 23,539 | 89,844 | (808 | ) | 112,575 | ||||||||||||||||||
Acquisition expenses | 9,195 | 12,468 | 21,663 | 58,917 | — | 80,580 | |||||||||||||||||||
Operational expenses | 19,208 | 5,050 | 24,258 | 16,217 | 18 | 40,493 | |||||||||||||||||||
Underwriting income | $ | 99,705 | $ | 3,496 | $ | 103,201 | $ | 8,882 | $ | 790 | 112,873 | ||||||||||||||
Net investment income | 51,423 | 51,423 | |||||||||||||||||||||||
Net foreign exchange losses | (5,986 | ) | (5,986 | ) | |||||||||||||||||||||
Equity in losses of other ventures | (11,630 | ) | (11,630 | ) | |||||||||||||||||||||
Other income | 2,268 | 2,268 | |||||||||||||||||||||||
Net realized and unrealized gains on investments | 59,870 | 59,870 | |||||||||||||||||||||||
Corporate expenses | (11,537 | ) | (11,537 | ) | |||||||||||||||||||||
Interest expense | (10,536 | ) | (10,536 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 186,745 | ||||||||||||||||||||||||
Income tax benefit | 1,316 | 1,316 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (35,641 | ) | (35,641 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 146,825 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 18,275 | $ | 23,787 | $ | 42,062 | $ | 116,298 | $ | — | $ | 158,360 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (16,369 | ) | (2,154 | ) | (18,523 | ) | (26,454 | ) | (808 | ) | (45,785 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 1,906 | $ | 21,633 | $ | 23,539 | $ | 89,844 | $ | (808 | ) | $ | 112,575 | ||||||||||||
Net claims and claim expense ratio – current accident year | 14.1 | % | 55.8 | % | 24.4 | % | 66.9 | % | 45.7 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (12.6 | )% | (5.1 | )% | (10.8 | )% | (15.2 | )% | (13.2 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 1.5 | % | 50.7 | % | 13.6 | % | 51.7 | % | 32.5 | % | |||||||||||||||
Underwriting expense ratio | 21.8 | % | 41.1 | % | 26.6 | % | 43.2 | % | 34.9 | % | |||||||||||||||
Combined ratio | 23.3 | % | 91.8 | % | 40.2 | % | 94.9 | % | 67.4 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Nine months ended September 30, 2016 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 876,656 | $ | 182,160 | $ | 1,058,816 | $ | 992,669 | $ | — | $ | 2,051,485 | |||||||||||||
Net premiums written | $ | 516,495 | $ | 157,866 | $ | 674,361 | $ | 641,452 | $ | — | $ | 1,315,813 | |||||||||||||
Net premiums earned | $ | 424,326 | $ | 114,627 | $ | 538,953 | $ | 512,576 | $ | — | $ | 1,051,529 | |||||||||||||
Net claims and claim expenses incurred | 66,133 | 59,485 | 125,618 | 282,117 | (805 | ) | 406,930 | ||||||||||||||||||
Acquisition expenses | 38,841 | 32,335 | 71,176 | 144,001 | — | 215,177 | |||||||||||||||||||
Operational expenses | 63,338 | 16,103 | 79,441 | 68,261 | 99 | 147,801 | |||||||||||||||||||
Underwriting income | $ | 256,014 | $ | 6,704 | $ | 262,718 | $ | 18,197 | $ | 706 | 281,621 | ||||||||||||||
Net investment income | 134,410 | 134,410 | |||||||||||||||||||||||
Net foreign exchange losses | (8,368 | ) | (8,368 | ) | |||||||||||||||||||||
Equity in losses of other ventures | (3,997 | ) | (3,997 | ) | |||||||||||||||||||||
Other income | 9,001 | 9,001 | |||||||||||||||||||||||
Net realized and unrealized gains on investments | 191,295 | 191,295 | |||||||||||||||||||||||
Corporate expenses | (25,514 | ) | (25,514 | ) | |||||||||||||||||||||
Interest expense | (31,610 | ) | (31,610 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 546,838 | ||||||||||||||||||||||||
Income tax expense | (8,040 | ) | (8,040 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (110,867 | ) | (110,867 | ) | |||||||||||||||||||||
Dividends on preference shares | (16,786 | ) | (16,786 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 411,145 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 102,938 | $ | 60,192 | $ | 163,130 | $ | 320,444 | $ | — | $ | 483,574 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (36,805 | ) | (707 | ) | (37,512 | ) | (38,327 | ) | (805 | ) | (76,644 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 66,133 | $ | 59,485 | $ | 125,618 | $ | 282,117 | $ | (805 | ) | $ | 406,930 | ||||||||||||
Net claims and claim expense ratio – current accident year | 24.3 | % | 52.5 | % | 30.3 | % | 62.5 | % | 46.0 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (8.7 | )% | (0.6 | )% | (7.0 | )% | (7.5 | )% | (7.3 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 15.6 | % | 51.9 | % | 23.3 | % | 55.0 | % | 38.7 | % | |||||||||||||||
Underwriting expense ratio | 24.1 | % | 42.3 | % | 28.0 | % | 41.4 | % | 34.5 | % | |||||||||||||||
Combined ratio | 39.7 | % | 94.2 | % | 51.3 | % | 96.4 | % | 73.2 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended March 31, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 410,325 | $ | 33,545 | $ | 443,870 | $ | 199,798 | $ | (90 | ) | $ | 643,578 | ||||||||||||
Net premiums written | $ | 227,444 | $ | 20,144 | $ | 247,588 | $ | 156,536 | $ | (89 | ) | $ | 404,035 | ||||||||||||
Net premiums earned | $ | 153,154 | $ | 28,397 | $ | 181,551 | $ | 115,298 | $ | (89 | ) | $ | 296,760 | ||||||||||||
Net claims and claim expenses incurred | 6,757 | 12,764 | 19,521 | 57,755 | (423 | ) | 76,853 | ||||||||||||||||||
Acquisition expenses | 9,389 | 7,787 | 17,176 | 25,860 | 365 | 43,401 | |||||||||||||||||||
Operational expenses | 20,704 | 4,330 | 25,034 | 20,559 | 28 | 45,621 | |||||||||||||||||||
Underwriting income (loss) | $ | 116,304 | $ | 3,516 | $ | 119,820 | $ | 11,124 | $ | (59 | ) | 130,885 | |||||||||||||
Net investment income | 39,707 | 39,707 | |||||||||||||||||||||||
Net foreign exchange losses | (3,130 | ) | (3,130 | ) | |||||||||||||||||||||
Equity in earnings of other ventures | 5,295 | 5,295 | |||||||||||||||||||||||
Other income | 1,539 | 1,539 | |||||||||||||||||||||||
Net realized and unrealized gains on investments | 41,749 | 41,749 | |||||||||||||||||||||||
Corporate expenses | (45,533 | ) | (45,533 | ) | |||||||||||||||||||||
Interest expense | (5,316 | ) | (5,316 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 165,196 | ||||||||||||||||||||||||
Income tax benefit | 47,904 | 47,904 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (39,662 | ) | (39,662 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 167,843 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 23,638 | $ | 10,504 | $ | 34,142 | $ | 64,856 | $ | — | $ | 98,998 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (16,881 | ) | 2,260 | (14,621 | ) | (7,101 | ) | (423 | ) | (22,145 | ) | ||||||||||||||
Net claims and claim expenses incurred – total | $ | 6,757 | $ | 12,764 | $ | 19,521 | $ | 57,755 | $ | (423 | ) | $ | 76,853 | ||||||||||||
Net claims and claim expense ratio – current accident year | 15.4 | % | 37.0 | % | 18.8 | % | 56.3 | % | 33.4 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (11.0 | )% | 7.9 | % | (8.0 | )% | (6.2 | )% | (7.5 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 4.4 | % | 44.9 | % | 10.8 | % | 50.1 | % | 25.9 | % | |||||||||||||||
Underwriting expense ratio | 19.7 | % | 42.7 | % | 23.2 | % | 40.3 | % | 30.0 | % | |||||||||||||||
Combined ratio | 24.1 | % | 87.6 | % | 34.0 | % | 90.4 | % | 55.9 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended June 30, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 416,716 | $ | 49,374 | $ | 466,090 | $ | 195,907 | $ | — | $ | 661,997 | |||||||||||||
Net premiums written | $ | 302,122 | $ | 46,416 | $ | 348,538 | $ | 160,139 | $ | — | $ | 508,677 | |||||||||||||
Net premiums earned | $ | 172,858 | $ | 43,620 | $ | 216,478 | $ | 163,350 | $ | — | $ | 379,828 | |||||||||||||
Net claims and claim expenses incurred | 54,582 | 9,910 | 64,492 | 104,628 | 224 | 169,344 | |||||||||||||||||||
Acquisition expenses | 21,207 | 10,764 | 31,971 | 29,804 | (109 | ) | 61,666 | ||||||||||||||||||
Operational expenses | 23,918 | 5,064 | 28,982 | 25,574 | 117 | 54,673 | |||||||||||||||||||
Underwriting income (loss) | $ | 73,151 | $ | 17,882 | $ | 91,033 | $ | 3,344 | $ | (232 | ) | 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 | $ | 66,555 | $ | 21,076 | $ | 87,631 | $ | 114,789 | $ | — | $ | 202,420 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (11,973 | ) | (11,166 | ) | (23,139 | ) | (10,161 | ) | 224 | (33,076 | ) | ||||||||||||||
Net claims and claim expenses incurred – total | $ | 54,582 | $ | 9,910 | $ | 64,492 | $ | 104,628 | $ | 224 | $ | 169,344 | |||||||||||||
Net claims and claim expense ratio – current accident year | 38.5 | % | 48.3 | % | 40.5 | % | 70.3 | % | 53.3 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (6.9 | )% | (25.6 | )% | (10.7 | )% | (6.2 | )% | (8.7 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 31.6 | % | 22.7 | % | 29.8 | % | 64.1 | % | 44.6 | % | |||||||||||||||
Underwriting expense ratio | 26.1 | % | 36.3 | % | 28.1 | % | 33.9 | % | 30.6 | % | |||||||||||||||
Combined ratio | 57.7 | % | 59.0 | % | 57.9 | % | 98.0 | % | 75.2 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Six months ended June 30, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 827,041 | $ | 82,919 | $ | 909,960 | $ | 395,705 | $ | (90 | ) | $ | 1,305,575 | ||||||||||||
Net premiums written | $ | 529,566 | $ | 66,560 | $ | 596,126 | $ | 316,675 | $ | (89 | ) | $ | 912,712 | ||||||||||||
Net premiums earned | $ | 326,012 | $ | 72,017 | $ | 398,029 | $ | 278,648 | $ | (89 | ) | $ | 676,588 | ||||||||||||
Net claims and claim expenses incurred | 61,339 | 22,674 | 84,013 | 162,383 | (199 | ) | 246,197 | ||||||||||||||||||
Acquisition expenses | 30,596 | 18,551 | 49,147 | 55,664 | 256 | 105,067 | |||||||||||||||||||
Operational expenses | 44,622 | 9,394 | 54,016 | 46,133 | 145 | 100,294 | |||||||||||||||||||
Underwriting income (loss) | $ | 189,455 | $ | 21,398 | $ | 210,853 | $ | 14,468 | $ | (291 | ) | 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 | $ | 90,193 | $ | 31,580 | $ | 121,773 | $ | 179,645 | $ | — | $ | 301,418 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (28,854 | ) | (8,906 | ) | (37,760 | ) | (17,262 | ) | (199 | ) | (55,221 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 61,339 | $ | 22,674 | $ | 84,013 | $ | 162,383 | $ | (199 | ) | $ | 246,197 | ||||||||||||
Net claims and claim expense ratio – current accident year | 27.7 | % | 43.9 | % | 30.6 | % | 64.5 | % | 44.5 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (8.9 | )% | (12.4 | )% | (9.5 | )% | (6.2 | )% | (8.1 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 18.8 | % | 31.5 | % | 21.1 | % | 58.3 | % | 36.4 | % | |||||||||||||||
Underwriting expense ratio | 23.1 | % | 38.8 | % | 25.9 | % | 36.5 | % | 30.3 | % | |||||||||||||||
Combined ratio | 41.9 | % | 70.3 | % | 47.0 | % | 94.8 | % | 66.7 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended September 30, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 88,273 | $ | 30,006 | $ | 118,279 | $ | 251,363 | $ | — | $ | 369,642 | |||||||||||||
Net premiums written | $ | 59,991 | $ | 29,433 | $ | 89,424 | $ | 177,396 | $ | — | $ | 266,820 | |||||||||||||
Net premiums earned | $ | 170,415 | $ | 35,205 | $ | 205,620 | $ | 156,768 | $ | — | $ | 362,388 | |||||||||||||
Net claims and claim expenses incurred | 17,781 | 23,270 | 41,051 | 58,698 | 279 | 100,028 | |||||||||||||||||||
Acquisition expenses | 16,559 | 10,020 | 26,579 | 51,555 | (8 | ) | 78,126 | ||||||||||||||||||
Operational expenses | 25,041 | 4,860 | 29,901 | 24,581 | 36 | 54,518 | |||||||||||||||||||
Underwriting income (loss) | $ | 111,034 | $ | (2,945 | ) | $ | 108,089 | $ | 21,934 | $ | (307 | ) | 129,716 | ||||||||||||
Net investment income | 28,338 | 28,338 | |||||||||||||||||||||||
Net foreign exchange gains | 616 | 616 | |||||||||||||||||||||||
Equity in earnings of other ventures | 5,730 | 5,730 | |||||||||||||||||||||||
Other income | 2,306 | 2,306 | |||||||||||||||||||||||
Net realized and unrealized losses on investments | (41,138 | ) | (41,138 | ) | |||||||||||||||||||||
Corporate expenses | (7,322 | ) | (7,322 | ) | |||||||||||||||||||||
Interest expense | (10,542 | ) | (10,542 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 107,704 | ||||||||||||||||||||||||
Income tax benefit | 4,573 | 4,573 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (31,153 | ) | (31,153 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 75,529 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 31,723 | $ | 29,844 | $ | 61,567 | $ | 108,811 | $ | — | $ | 170,378 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (13,942 | ) | (6,574 | ) | (20,516 | ) | (50,113 | ) | 279 | (70,350 | ) | ||||||||||||||
Net claims and claim expenses incurred – total | $ | 17,781 | $ | 23,270 | $ | 41,051 | $ | 58,698 | $ | 279 | $ | 100,028 | |||||||||||||
Net claims and claim expense ratio – current accident year | 18.6 | % | 84.8 | % | 29.9 | % | 69.4 | % | 47.0 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (8.2 | )% | (18.7 | )% | (9.9 | )% | (32.0 | )% | (19.4 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 10.4 | % | 66.1 | % | 20.0 | % | 37.4 | % | 27.6 | % | |||||||||||||||
Underwriting expense ratio | 24.4 | % | 42.3 | % | 27.4 | % | 48.6 | % | 36.6 | % | |||||||||||||||
Combined ratio | 34.8 | % | 108.4 | % | 47.4 | % | 86.0 | % | 64.2 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Nine months ended September 30, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 915,314 | $ | 112,925 | $ | 1,028,239 | $ | 647,068 | $ | (90 | ) | $ | 1,675,217 | ||||||||||||
Net premiums written | $ | 589,557 | $ | 95,993 | $ | 685,550 | $ | 494,071 | $ | (89 | ) | $ | 1,179,532 | ||||||||||||
Net premiums earned | $ | 496,427 | $ | 107,222 | $ | 603,649 | $ | 435,416 | $ | (89 | ) | $ | 1,038,976 | ||||||||||||
Net claims and claim expenses incurred | 79,120 | 45,944 | 125,064 | 221,081 | 80 | 346,225 | |||||||||||||||||||
Acquisition expenses | 47,155 | 28,571 | 75,726 | 107,219 | 248 | 183,193 | |||||||||||||||||||
Operational expenses | 69,663 | 14,254 | 83,917 | 70,714 | 181 | 154,812 | |||||||||||||||||||
Underwriting income (loss) | $ | 300,489 | $ | 18,453 | $ | 318,942 | $ | 36,402 | $ | (598 | ) | 354,746 | |||||||||||||
Net investment income | 106,649 | 106,649 | |||||||||||||||||||||||
Net foreign exchange losses | (4,254 | ) | (4,254 | ) | |||||||||||||||||||||
Equity in earnings of other ventures | 17,185 | 17,185 | |||||||||||||||||||||||
Other income | 5,272 | 5,272 | |||||||||||||||||||||||
Net realized and unrealized losses on investments | (26,101 | ) | (26,101 | ) | |||||||||||||||||||||
Corporate expenses | (65,723 | ) | (65,723 | ) | |||||||||||||||||||||
Interest expense | (25,720 | ) | (25,720 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 362,054 | ||||||||||||||||||||||||
Income tax benefit | 54,319 | 54,319 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (82,982 | ) | (82,982 | ) | |||||||||||||||||||||
Dividends on preference shares | (16,786 | ) | (16,786 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 316,605 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 121,916 | $ | 61,424 | $ | 183,340 | $ | 288,456 | $ | — | $ | 471,796 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (42,796 | ) | (15,480 | ) | (58,276 | ) | (67,375 | ) | 80 | (125,571 | ) | ||||||||||||||
Net claims and claim expenses incurred – total | $ | 79,120 | $ | 45,944 | $ | 125,064 | $ | 221,081 | $ | 80 | $ | 346,225 | |||||||||||||
Net claims and claim expense ratio – current accident year | 24.6 | % | 57.3 | % | 30.4 | % | 66.2 | % | 45.4 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (8.7 | )% | (14.5 | )% | (9.7 | )% | (15.4 | )% | (12.1 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 15.9 | % | 42.8 | % | 20.7 | % | 50.8 | % | 33.3 | % | |||||||||||||||
Underwriting expense ratio | 23.6 | % | 40.0 | % | 26.5 | % | 40.8 | % | 32.6 | % | |||||||||||||||
Combined ratio | 39.5 | % | 82.8 | % | 47.2 | % | 91.6 | % | 65.9 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended December 31, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 15,264 | $ | 28,656 | $ | 43,920 | $ | 292,173 | $ | — | $ | 336,093 | |||||||||||||
Net premiums written | $ | 11,992 | $ | 28,603 | $ | 40,595 | $ | 196,015 | $ | 41 | $ | 236,651 | |||||||||||||
Net premiums earned | $ | 168,177 | $ | 34,159 | $ | 202,336 | $ | 159,198 | $ | 41 | $ | 361,575 | |||||||||||||
Net claims and claim expenses incurred | (8,924 | ) | 12,150 | 3,226 | 99,737 | (950 | ) | 102,013 | |||||||||||||||||
Acquisition expenses | 8,656 | 9,867 | 18,523 | 36,876 | — | 55,399 | |||||||||||||||||||
Operational expenses | 28,717 | 6,032 | 34,749 | 29,466 | 85 | 64,300 | |||||||||||||||||||
Underwriting income (loss) | $ | 139,728 | $ | 6,110 | $ | 145,838 | $ | (6,881 | ) | $ | 906 | 139,863 | |||||||||||||
Net investment income | 45,918 | 45,918 | |||||||||||||||||||||||
Net foreign exchange gains | 1,203 | 1,203 | |||||||||||||||||||||||
Equity in earnings of other ventures | 3,296 | 3,296 | |||||||||||||||||||||||
Other income | 8,200 | 8,200 | |||||||||||||||||||||||
Net realized and unrealized losses on investments | (42,817 | ) | (42,817 | ) | |||||||||||||||||||||
Corporate expenses | (10,791 | ) | (10,791 | ) | |||||||||||||||||||||
Interest expense | (10,550 | ) | (10,550 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 134,322 | ||||||||||||||||||||||||
Income tax expense | (8,453 | ) | (8,453 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (28,068 | ) | (28,068 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 92,206 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 19,828 | $ | 18,908 | $ | 38,736 | $ | 100,153 | $ | — | $ | 138,889 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (28,752 | ) | (6,758 | ) | (35,510 | ) | (416 | ) | (950 | ) | (36,876 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | (8,924 | ) | $ | 12,150 | $ | 3,226 | $ | 99,737 | $ | (950 | ) | $ | 102,013 | |||||||||||
Net claims and claim expense ratio – current accident year | 11.8 | % | 55.4 | % | 19.1 | % | 62.9 | % | 38.4 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (17.1 | )% | (19.8 | )% | (17.5 | )% | (0.3 | )% | (10.2 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | (5.3 | )% | 35.6 | % | 1.6 | % | 62.6 | % | 28.2 | % | |||||||||||||||
Underwriting expense ratio | 22.2 | % | 46.5 | % | 26.3 | % | 41.7 | % | 33.1 | % | |||||||||||||||
Combined ratio | 16.9 | % | 82.1 | % | 27.9 | % | 104.3 | % | 61.3 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Year ended December 31, 2015 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 930,578 | $ | 141,581 | $ | 1,072,159 | $ | 939,241 | $ | (90 | ) | $ | 2,011,310 | ||||||||||||
Net premiums written | $ | 601,549 | $ | 124,596 | $ | 726,145 | $ | 690,086 | $ | (48 | ) | $ | 1,416,183 | ||||||||||||
Net premiums earned | $ | 664,604 | $ | 141,381 | $ | 805,985 | $ | 594,614 | $ | (48 | ) | $ | 1,400,551 | ||||||||||||
Net claims and claim expenses incurred | 70,196 | 58,094 | 128,290 | 320,818 | (870 | ) | 448,238 | ||||||||||||||||||
Acquisition expenses | 55,811 | 38,438 | 94,249 | 144,095 | 248 | 238,592 | |||||||||||||||||||
Operational expenses | 98,380 | 20,286 | 118,666 | 100,180 | 266 | 219,112 | |||||||||||||||||||
Underwriting income | $ | 440,217 | $ | 24,563 | $ | 464,780 | $ | 29,521 | $ | 308 | 494,609 | ||||||||||||||
Net investment income | 152,567 | 152,567 | |||||||||||||||||||||||
Net foreign exchange losses | (3,051 | ) | (3,051 | ) | |||||||||||||||||||||
Equity in earnings of other ventures | 20,481 | 20,481 | |||||||||||||||||||||||
Other income | 13,472 | 13,472 | |||||||||||||||||||||||
Net realized and unrealized losses on investments | (68,918 | ) | (68,918 | ) | |||||||||||||||||||||
Corporate expenses | (76,514 | ) | (76,514 | ) | |||||||||||||||||||||
Interest expense | (36,270 | ) | (36,270 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 496,376 | ||||||||||||||||||||||||
Income tax benefit | 45,866 | 45,866 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (111,050 | ) | (111,050 | ) | |||||||||||||||||||||
Dividends on preference shares | (22,381 | ) | (22,381 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 408,811 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 141,744 | $ | 80,332 | $ | 222,076 | $ | 388,609 | $ | — | $ | 610,685 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (71,548 | ) | (22,238 | ) | (93,786 | ) | (67,791 | ) | (870 | ) | (162,447 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 70,196 | $ | 58,094 | $ | 128,290 | $ | 320,818 | $ | (870 | ) | $ | 448,238 | ||||||||||||
Net claims and claim expense ratio – current accident year | 21.3 | % | 56.8 | % | 27.6 | % | 65.4 | % | 43.6 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (10.7 | )% | (15.7 | )% | (11.7 | )% | (11.4 | )% | (11.6 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 10.6 | % | 41.1 | % | 15.9 | % | 54.0 | % | 32.0 | % | |||||||||||||||
Underwriting expense ratio | 23.2 | % | 41.5 | % | 26.4 | % | 41.0 | % | 32.7 | % | |||||||||||||||
Combined ratio | 33.8 | % | 82.6 | % | 42.3 | % | 95.0 | % | 64.7 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended March 31, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 489,266 | $ | 18,065 | $ | 507,331 | $ | 197,929 | $ | — | $ | 705,260 | |||||||||||||
Net premiums written | $ | 272,104 | $ | 11,804 | $ | 283,908 | $ | 166,439 | $ | — | $ | 450,347 | |||||||||||||
Net premiums earned | $ | 172,311 | $ | 18,302 | $ | 190,613 | $ | 95,898 | $ | 23 | $ | 286,534 | |||||||||||||
Net claims and claim expenses incurred | 5,771 | (1,356 | ) | 4,415 | 54,402 | 98 | 58,915 | ||||||||||||||||||
Acquisition expenses | 8,396 | 3,407 | 11,803 | 22,437 | (540 | ) | 33,700 | ||||||||||||||||||
Operational expenses | 21,830 | 3,717 | 25,547 | 17,011 | 66 | 42,624 | |||||||||||||||||||
Underwriting income | $ | 136,314 | $ | 12,534 | $ | 148,848 | $ | 2,048 | $ | 399 | 151,295 | ||||||||||||||
Net investment income | 38,948 | 38,948 | |||||||||||||||||||||||
Net foreign exchange losses | (1,061 | ) | (1,061 | ) | |||||||||||||||||||||
Equity in earnings of other ventures | 4,199 | 4,199 | |||||||||||||||||||||||
Other income | 62 | 62 | |||||||||||||||||||||||
Net realized and unrealized gains on investments | 14,927 | 14,927 | |||||||||||||||||||||||
Corporate expenses | (4,486 | ) | (4,486 | ) | |||||||||||||||||||||
Interest expense | (4,352 | ) | (4,352 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 199,532 | ||||||||||||||||||||||||
Income tax expense | (166 | ) | (166 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (42,768 | ) | (42,768 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 151,003 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 12,529 | $ | 3,754 | $ | 16,283 | $ | 59,325 | $ | — | $ | 75,608 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (6,758 | ) | (5,110 | ) | (11,868 | ) | (4,923 | ) | 98 | (16,693 | ) | ||||||||||||||
Net claims and claim expenses incurred – total | $ | 5,771 | $ | (1,356 | ) | $ | 4,415 | $ | 54,402 | $ | 98 | $ | 58,915 | ||||||||||||
Net claims and claim expense ratio – current accident year | 7.3 | % | 20.5 | % | 8.5 | % | 61.9 | % | 26.4 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (4.0 | )% | (27.9 | )% | (6.2 | )% | (5.2 | )% | (5.8 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 3.3 | % | (7.4 | )% | 2.3 | % | 56.7 | % | 20.6 | % | |||||||||||||||
Underwriting expense ratio | 17.6 | % | 38.9 | % | 19.6 | % | 41.2 | % | 26.6 | % | |||||||||||||||
Combined ratio | 20.9 | % | 31.5 | % | 21.9 | % | 97.9 | % | 47.2 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended June 30, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 414,748 | $ | 16,249 | $ | 430,997 | $ | 80,543 | $ | — | $ | 511,540 | |||||||||||||
Net premiums written | $ | 258,263 | $ | 14,575 | $ | 272,838 | $ | 73,566 | $ | 3 | $ | 346,407 | |||||||||||||
Net premiums earned | $ | 167,955 | $ | 12,341 | $ | 180,296 | $ | 80,116 | $ | 4 | $ | 260,416 | |||||||||||||
Net claims and claim expenses incurred | 36,689 | 6,620 | 43,309 | 38,608 | (529 | ) | 81,388 | ||||||||||||||||||
Acquisition expenses | 19,237 | 3,055 | 22,292 | 17,335 | (6,150 | ) | 33,477 | ||||||||||||||||||
Operational expenses | 23,925 | 3,860 | 27,785 | 17,987 | 69 | 45,841 | |||||||||||||||||||
Underwriting income (loss) | $ | 88,104 | $ | (1,194 | ) | $ | 86,910 | $ | 6,186 | $ | 6,614 | 99,710 | |||||||||||||
Net investment income | 34,541 | 34,541 | |||||||||||||||||||||||
Net foreign exchange gains | 2,392 | 2,392 | |||||||||||||||||||||||
Equity in earnings of other ventures | 7,232 | 7,232 | |||||||||||||||||||||||
Other loss | (535 | ) | (535 | ) | |||||||||||||||||||||
Net realized and unrealized gains on investments | 27,128 | 27,128 | |||||||||||||||||||||||
Corporate expenses | (3,895 | ) | (3,895 | ) | |||||||||||||||||||||
Interest expense | (4,351 | ) | (4,351 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 162,222 | ||||||||||||||||||||||||
Income tax benefit | 204 | 204 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (36,078 | ) | (36,078 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,596 | ) | (5,596 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 120,752 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 38,969 | $ | 9,091 | $ | 48,060 | $ | 50,411 | $ | — | $ | 98,471 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (2,280 | ) | (2,471 | ) | (4,751 | ) | (11,803 | ) | (529 | ) | (17,083 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 36,689 | $ | 6,620 | $ | 43,309 | $ | 38,608 | $ | (529 | ) | $ | 81,388 | ||||||||||||
Net claims and claim expense ratio – current accident year | 23.2 | % | 73.7 | % | 26.7 | % | 62.9 | % | 37.8 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (1.4 | )% | (20.1 | )% | (2.7 | )% | (14.7 | )% | (6.5 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 21.8 | % | 53.6 | % | 24.0 | % | 48.2 | % | 31.3 | % | |||||||||||||||
Underwriting expense ratio | 25.7 | % | 56.1 | % | 27.8 | % | 44.1 | % | 30.4 | % | |||||||||||||||
Combined ratio | 47.5 | % | 109.7 | % | 51.8 | % | 92.3 | % | 61.7 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Six months ended June 30, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 904,014 | $ | 34,314 | $ | 938,328 | $ | 278,472 | $ | — | $ | 1,216,800 | |||||||||||||
Net premiums written | $ | 530,367 | $ | 26,379 | $ | 556,746 | $ | 240,005 | $ | 3 | $ | 796,754 | |||||||||||||
Net premiums earned | $ | 340,266 | $ | 30,643 | $ | 370,909 | $ | 176,014 | $ | 27 | $ | 546,950 | |||||||||||||
Net claims and claim expenses incurred | 42,460 | 5,264 | 47,724 | 93,010 | (431 | ) | 140,303 | ||||||||||||||||||
Acquisition expenses | 27,633 | 6,462 | 34,095 | 39,772 | (6,690 | ) | 67,177 | ||||||||||||||||||
Operational expenses | 45,755 | 7,577 | 53,332 | 34,998 | 135 | 88,465 | |||||||||||||||||||
Underwriting income | $ | 224,418 | $ | 11,340 | $ | 235,758 | $ | 8,234 | $ | 7,013 | 251,005 | ||||||||||||||
Net investment income | 73,489 | 73,489 | |||||||||||||||||||||||
Net foreign exchange gains | 1,331 | 1,331 | |||||||||||||||||||||||
Equity in earnings of other ventures | 11,431 | 11,431 | |||||||||||||||||||||||
Other loss | (473 | ) | (473 | ) | |||||||||||||||||||||
Net realized and unrealized gains on investments | 42,055 | 42,055 | |||||||||||||||||||||||
Corporate expenses | (8,381 | ) | (8,381 | ) | |||||||||||||||||||||
Interest expense | (8,703 | ) | (8,703 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 361,754 | ||||||||||||||||||||||||
Income tax benefit | 38 | 38 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | (78,846 | ) | (78,846 | ) | |||||||||||||||||||||
Dividends on preference shares | (11,191 | ) | (11,191 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 271,755 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 51,498 | $ | 12,845 | $ | 64,343 | $ | 109,736 | $ | — | $ | 174,079 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (9,038 | ) | (7,581 | ) | (16,619 | ) | (16,726 | ) | (431 | ) | (33,776 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 42,460 | $ | 5,264 | $ | 47,724 | $ | 93,010 | $ | (431 | ) | $ | 140,303 | ||||||||||||
Net claims and claim expense ratio – current accident year | 15.1 | % | 41.9 | % | 17.3 | % | 62.3 | % | 31.8 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (2.6 | )% | (24.7 | )% | (4.4 | )% | (9.5 | )% | (6.1 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 12.5 | % | 17.2 | % | 12.9 | % | 52.8 | % | 25.7 | % | |||||||||||||||
Underwriting expense ratio | 21.5 | % | 45.8 | % | 23.5 | % | 42.5 | % | 28.4 | % | |||||||||||||||
Combined ratio | 34.0 | % | 63.0 | % | 36.4 | % | 95.3 | % | 54.1 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended September 30, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 73,413 | $ | 26,410 | $ | 99,823 | $ | 101,169 | $ | — | $ | 200,992 | |||||||||||||
Net premiums written | $ | 46,967 | $ | 26,177 | $ | 73,144 | $ | 86,569 | $ | — | $ | 159,713 | |||||||||||||
Net premiums earned | $ | 147,126 | $ | 17,984 | $ | 165,110 | $ | 93,870 | $ | (1 | ) | $ | 258,979 | ||||||||||||
Net claims and claim expenses incurred | (1,522 | ) | 9,507 | 7,985 | 62,134 | (472 | ) | 69,647 | |||||||||||||||||
Acquisition expenses | 10,887 | 4,306 | 15,193 | 22,358 | (1 | ) | 37,550 | ||||||||||||||||||
Operational expenses | 25,901 | 3,733 | 29,634 | 17,229 | 109 | 46,972 | |||||||||||||||||||
Underwriting income (loss) | $ | 111,860 | $ | 438 | $ | 112,298 | $ | (7,851 | ) | $ | 363 | 104,810 | |||||||||||||
Net investment income | 24,941 | 24,941 | |||||||||||||||||||||||
Net foreign exchange gains | 5,036 | 5,036 | |||||||||||||||||||||||
Equity in earnings of other ventures | 9,806 | 9,806 | |||||||||||||||||||||||
Other loss | (1,169 | ) | (1,169 | ) | |||||||||||||||||||||
Net realized and unrealized losses on investments | (31,097 | ) | (31,097 | ) | |||||||||||||||||||||
Corporate expenses | (3,845 | ) | (3,845 | ) | |||||||||||||||||||||
Interest expense | (4,350 | ) | (4,350 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 104,132 | ||||||||||||||||||||||||
Income tax expense | (245 | ) | (245 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (30,477 | ) | (30,477 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 67,815 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 10,126 | $ | 8,539 | $ | 18,665 | $ | 76,322 | $ | — | $ | 94,987 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (11,648 | ) | 968 | (10,680 | ) | (14,188 | ) | (472 | ) | (25,340 | ) | ||||||||||||||
Net claims and claim expenses incurred – total | $ | (1,522 | ) | $ | 9,507 | $ | 7,985 | $ | 62,134 | $ | (472 | ) | $ | 69,647 | |||||||||||
Net claims and claim expense ratio – current accident year | 6.9 | % | 47.5 | % | 11.3 | % | 81.3 | % | 36.7 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (7.9 | )% | 5.4 | % | (6.5 | )% | (15.1 | )% | (9.8 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | (1.0 | )% | 52.9 | % | 4.8 | % | 66.2 | % | 26.9 | % | |||||||||||||||
Underwriting expense ratio | 25.0 | % | 44.7 | % | 27.2 | % | 42.2 | % | 32.6 | % | |||||||||||||||
Combined ratio | 24.0 | % | 97.6 | % | 32.0 | % | 108.4 | % | 59.5 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Nine months ended September 30, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 977,427 | $ | 60,724 | $ | 1,038,151 | $ | 379,641 | $ | — | $ | 1,417,792 | |||||||||||||
Net premiums written | $ | 577,334 | $ | 52,556 | $ | 629,890 | $ | 326,574 | $ | 3 | $ | 956,467 | |||||||||||||
Net premiums earned | $ | 487,392 | $ | 48,627 | $ | 536,019 | $ | 269,884 | $ | 26 | $ | 805,929 | |||||||||||||
Net claims and claim expenses incurred | 40,938 | 14,771 | 55,709 | 155,144 | (903 | ) | 209,950 | ||||||||||||||||||
Acquisition expenses | 38,520 | 10,768 | 49,288 | 62,130 | (6,691 | ) | 104,727 | ||||||||||||||||||
Operational expenses | 71,656 | 11,310 | 82,966 | 52,227 | 244 | 135,437 | |||||||||||||||||||
Underwriting income | $ | 336,278 | $ | 11,778 | $ | 348,056 | $ | 383 | $ | 7,376 | 355,815 | ||||||||||||||
Net investment income | 98,430 | 98,430 | |||||||||||||||||||||||
Net foreign exchange gains | 6,367 | 6,367 | |||||||||||||||||||||||
Equity in earnings of other ventures | 21,237 | 21,237 | |||||||||||||||||||||||
Other loss | (1,642 | ) | (1,642 | ) | |||||||||||||||||||||
Net realized and unrealized gains on investments | 10,958 | 10,958 | |||||||||||||||||||||||
Corporate expenses | (12,226 | ) | (12,226 | ) | |||||||||||||||||||||
Interest expense | (13,053 | ) | (13,053 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 465,886 | ||||||||||||||||||||||||
Income tax expense | (207 | ) | (207 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (109,323 | ) | (109,323 | ) | |||||||||||||||||||||
Dividends on preference shares | (16,786 | ) | (16,786 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 339,570 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 61,624 | $ | 21,384 | $ | 83,008 | $ | 186,058 | $ | — | $ | 269,066 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (20,686 | ) | (6,613 | ) | (27,299 | ) | (30,914 | ) | (903 | ) | (59,116 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | 40,938 | $ | 14,771 | $ | 55,709 | $ | 155,144 | $ | (903 | ) | $ | 209,950 | ||||||||||||
Net claims and claim expense ratio – current accident year | 12.6 | % | 44.0 | % | 15.5 | % | 68.9 | % | 33.4 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (4.2 | )% | (13.6 | )% | (5.1 | )% | (11.4 | )% | (7.3 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | 8.4 | % | 30.4 | % | 10.4 | % | 57.5 | % | 26.1 | % | |||||||||||||||
Underwriting expense ratio | 22.6 | % | 45.4 | % | 24.7 | % | 42.4 | % | 29.8 | % | |||||||||||||||
Combined ratio | 31.0 | % | 75.8 | % | 35.1 | % | 99.9 | % | 55.9 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Three months ended December 31, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 11,908 | $ | 24,831 | $ | 36,739 | $ | 95,732 | $ | 309 | $ | 132,780 | |||||||||||||
Net premiums written | $ | 8,687 | $ | 23,975 | $ | 32,662 | $ | 78,766 | $ | 341 | $ | 111,769 | |||||||||||||
Net premiums earned | $ | 140,986 | $ | 21,411 | $ | 162,397 | $ | 93,748 | $ | 342 | $ | 256,487 | |||||||||||||
Net claims and claim expenses incurred | (44,024 | ) | 4,958 | (39,066 | ) | 32,297 | (5,234 | ) | (12,003 | ) | |||||||||||||||
Acquisition expenses | 10,882 | 6,092 | 16,974 | 22,632 | 143 | 39,749 | |||||||||||||||||||
Operational expenses | 30,480 | 4,497 | 34,977 | 20,166 | 59 | 55,202 | |||||||||||||||||||
Underwriting income | $ | 143,648 | $ | 5,864 | $ | 149,512 | $ | 18,653 | $ | 5,374 | 173,539 | ||||||||||||||
Net investment income | 25,886 | 25,886 | |||||||||||||||||||||||
Net foreign exchange losses | (107 | ) | (107 | ) | |||||||||||||||||||||
Equity in earnings of other ventures | 4,838 | 4,838 | |||||||||||||||||||||||
Other income | 1,219 | 1,219 | |||||||||||||||||||||||
Net realized and unrealized gains on investments | 30,475 | 30,475 | |||||||||||||||||||||||
Corporate expenses | (10,523 | ) | (10,523 | ) | |||||||||||||||||||||
Interest expense | (4,349 | ) | (4,349 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 220,978 | ||||||||||||||||||||||||
Income tax expense | (401 | ) | (401 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (44,215 | ) | (44,215 | ) | |||||||||||||||||||||
Dividends on preference shares | (5,595 | ) | (5,595 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 170,767 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 6,605 | $ | 14,288 | $ | 20,893 | $ | 51,786 | $ | — | $ | 72,679 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (50,629 | ) | (9,330 | ) | (59,959 | ) | (19,489 | ) | (5,234 | ) | (84,682 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | (44,024 | ) | $ | 4,958 | $ | (39,066 | ) | $ | 32,297 | $ | (5,234 | ) | $ | (12,003 | ) | |||||||||
Net claims and claim expense ratio – current accident year | 4.7 | % | 66.7 | % | 12.9 | % | 55.2 | % | 28.3 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (35.9 | )% | (43.5 | )% | (37.0 | )% | (20.7 | )% | (33.0 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | (31.2 | )% | 23.2 | % | (24.1 | )% | 34.5 | % | (4.7 | )% | |||||||||||||||
Underwriting expense ratio | 29.3 | % | 49.4 | % | 32.0 | % | 45.6 | % | 37.0 | % | |||||||||||||||
Combined ratio | (1.9 | )% | 72.6 | % | 7.9 | % | 80.1 | % | 32.3 | % | |||||||||||||||
Property | |||||||||||||||||||||||||
Year ended December 31, 2014 | Catastrophe | Other Property | Total | Casualty and Specialty | Other | Total | |||||||||||||||||||
Gross premiums written | $ | 989,335 | $ | 85,555 | $ | 1,074,890 | $ | 475,373 | $ | 309 | $ | 1,550,572 | |||||||||||||
Net premiums written | $ | 586,021 | $ | 76,531 | $ | 662,552 | $ | 405,340 | $ | 344 | $ | 1,068,236 | |||||||||||||
Net premiums earned | $ | 628,378 | $ | 70,038 | $ | 698,416 | $ | 363,632 | $ | 368 | $ | 1,062,416 | |||||||||||||
Net claims and claim expenses incurred | (3,086 | ) | 19,729 | 16,643 | 187,441 | (6,137 | ) | 197,947 | |||||||||||||||||
Acquisition expenses | 49,402 | 16,860 | 66,262 | 84,762 | (6,548 | ) | 144,476 | ||||||||||||||||||
Operational expenses | 102,136 | 15,807 | 117,943 | 72,393 | 303 | 190,639 | |||||||||||||||||||
Underwriting income | $ | 479,926 | $ | 17,642 | $ | 497,568 | $ | 19,036 | $ | 12,750 | 529,354 | ||||||||||||||
Net investment income | 124,316 | 124,316 | |||||||||||||||||||||||
Net foreign exchange gains | 6,260 | 6,260 | |||||||||||||||||||||||
Equity in earnings of other ventures | 26,075 | 26,075 | |||||||||||||||||||||||
Other loss | (423 | ) | (423 | ) | |||||||||||||||||||||
Net realized and unrealized gains on investments | 41,433 | 41,433 | |||||||||||||||||||||||
Corporate expenses | (22,749 | ) | (22,749 | ) | |||||||||||||||||||||
Interest expense | (17,402 | ) | (17,402 | ) | |||||||||||||||||||||
Income before taxes and noncontrolling interests | 686,864 | ||||||||||||||||||||||||
Income tax expense | (608 | ) | (608 | ) | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (153,538 | ) | (153,538 | ) | |||||||||||||||||||||
Dividends on preference shares | (22,381 | ) | (22,381 | ) | |||||||||||||||||||||
Net income available to RenaissanceRe common shareholders | $ | 510,337 | |||||||||||||||||||||||
Net claims and claim expenses incurred – current accident year | $ | 68,229 | $ | 35,672 | $ | 103,901 | $ | 237,844 | $ | — | $ | 341,745 | |||||||||||||
Net claims and claim expenses incurred – prior accident years | (71,315 | ) | (15,943 | ) | (87,258 | ) | (50,403 | ) | (6,137 | ) | (143,798 | ) | |||||||||||||
Net claims and claim expenses incurred – total | $ | (3,086 | ) | $ | 19,729 | $ | 16,643 | $ | 187,441 | $ | (6,137 | ) | $ | 197,947 | |||||||||||
Net claims and claim expense ratio – current accident year | 10.9 | % | 50.9 | % | 14.9 | % | 65.4 | % | 32.2 | % | |||||||||||||||
Net claims and claim expense ratio – prior accident years | (11.4 | )% | (22.7 | )% | (12.5 | )% | (13.9 | )% | (13.6 | )% | |||||||||||||||
Net claims and claim expense ratio – calendar year | (0.5 | )% | 28.2 | % | 2.4 | % | 51.5 | % | 18.6 | % | |||||||||||||||
Underwriting expense ratio | 24.1 | % | 46.6 | % | 26.4 | % | 43.3 | % | 31.6 | % | |||||||||||||||
Combined ratio | 23.6 | % | 74.8 | % | 28.8 | % | 94.8 | % | 50.2 | % | |||||||||||||||
Three months ended | Nine months ended | ||||||||||||||
March 31, 2016 | June 30, 2016 | September 30, 2016 | September 30, 2016 | ||||||||||||
Property Segment | |||||||||||||||
Catastrophe | $ | 373,017 | $ | 432,033 | $ | 71,606 | $ | 876,656 | |||||||
Other property | 71,942 | 61,920 | 48,298 | 182,160 | |||||||||||
Total Property segment gross premiums written | $ | 444,959 | $ | 493,953 | $ | 119,904 | $ | 1,058,816 | |||||||
Casualty and Specialty Segment | |||||||||||||||
Casualty | $ | 218,729 | $ | 150,099 | $ | 173,218 | $ | 542,046 | |||||||
Credit | 142,834 | 74,255 | 110,771 | 327,860 | |||||||||||
Other | 55,611 | 40,821 | 26,331 | 122,763 | |||||||||||
Total Casualty and Specialty segment gross premiums written | $ | 417,174 | $ | 265,175 | $ | 310,320 | $ | 992,669 | |||||||
Managed Catastrophe Premiums | |||||||||||||||
Total catastrophe gross premiums written | $ | 373,017 | $ | 432,033 | $ | 71,606 | $ | 876,656 | |||||||
Catastrophe premiums written on behalf of the Company's joint venture, Top Layer Re (1) | 11,096 | 25,689 | 1,493 | 38,278 | |||||||||||
Catastrophe premiums written by the Company and ceded to Top Layer Re | (8,367 | ) | (896 | ) | — | (9,263 | ) | ||||||||
Total managed catastrophe premiums | $ | 375,746 | $ | 456,826 | $ | 73,099 | $ | 905,671 |
(1) | Top Layer Re is accounted for under the equity method of accounting. |
Three months ended | Year ended | ||||||||||||||||||
March 31, 2015 | June 30, 2015 | September 30, 2015 | December 31, 2015 | December 31, 2015 | |||||||||||||||
Property Segment | |||||||||||||||||||
Catastrophe | $ | 410,325 | $ | 416,716 | $ | 88,273 | $ | 15,264 | $ | 930,578 | |||||||||
Other property | 33,545 | 49,374 | 30,006 | 28,656 | 141,581 | ||||||||||||||
Total Property segment gross premiums written | $ | 443,870 | $ | 466,090 | $ | 118,279 | $ | 43,920 | $ | 1,072,159 | |||||||||
Casualty and Specialty Segment | |||||||||||||||||||
Casualty | $ | 124,076 | $ | 133,379 | $ | 158,203 | $ | 130,165 | $ | 545,823 | |||||||||
Credit | 31,296 | 21,445 | 70,216 | 142,213 | 265,170 | ||||||||||||||
Other | 44,426 | 41,083 | 22,944 | 19,795 | 128,248 | ||||||||||||||
Total Casualty and Specialty segment gross premiums written | $ | 199,798 | $ | 195,907 | $ | 251,363 | $ | 292,173 | $ | 939,241 | |||||||||
Managed Catastrophe Premiums | |||||||||||||||||||
Total catastrophe gross premiums written | $ | 410,325 | $ | 416,716 | $ | 88,273 | $ | 15,264 | $ | 930,578 | |||||||||
Catastrophe premiums written on behalf of the Company's joint venture, Top Layer Re (1) | 14,164 | 21,411 | 1,089 | 1,923 | 38,587 | ||||||||||||||
Catastrophe premiums written by the Company and ceded to Top Layer Re | (5,950 | ) | (835 | ) | — | — | (6,785 | ) | |||||||||||
Total managed catastrophe premiums | $ | 418,539 | $ | 437,292 | $ | 89,362 | $ | 17,187 | $ | 962,380 |
(1) | Top Layer Re is accounted for under the equity method of accounting. |
Three months ended | Year ended | ||||||||||||||||||
March 31, 2014 | June 30, 2014 | September 30, 2014 | December 31, 2014 | December 31, 2014 | |||||||||||||||
Property Segment | |||||||||||||||||||
Catastrophe | $ | 489,266 | $ | 414,748 | $ | 73,413 | $ | 11,908 | $ | 989,335 | |||||||||
Other property | 18,065 | 16,249 | 26,410 | 24,831 | 85,555 | ||||||||||||||
Total Property segment gross premiums written | $ | 507,331 | $ | 430,997 | $ | 99,823 | $ | 36,739 | $ | 1,074,890 | |||||||||
Casualty and Specialty Segment | |||||||||||||||||||
Casualty | $ | 61,933 | $ | 54,551 | $ | 77,311 | $ | 70,712 | $ | 264,507 | |||||||||
Credit | 97,789 | 14,945 | 16,445 | 19,282 | 148,461 | ||||||||||||||
Other | 38,207 | 11,047 | 7,413 | 5,738 | 62,405 | ||||||||||||||
Total Casualty and Specialty segment gross premiums written | $ | 197,929 | $ | 80,543 | $ | 101,169 | $ | 95,732 | $ | 475,373 | |||||||||
Managed Catastrophe Premiums | |||||||||||||||||||
Total catastrophe gross premiums written | $ | 489,266 | $ | 414,748 | $ | 73,413 | $ | 11,908 | $ | 989,335 | |||||||||
Catastrophe premiums written on behalf of the Company's joint venture, Top Layer Re (1) | 14,115 | 23,110 | 2,169 | 3,162 | 42,556 | ||||||||||||||
Catastrophe premiums written by the Company and ceded to Top Layer Re | (7,355 | ) | — | — | — | (7,355 | ) | ||||||||||||
Total managed catastrophe premiums | $ | 496,026 | $ | 437,858 | $ | 75,582 | $ | 15,070 | $ | 1,024,536 |
(1) | Top Layer Re is accounted for under the equity method of accounting. |