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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues                      
Gross premiums written (Note 7) $ 935,514 $ 1,143,058 $ 1,701,872 $ 2,025,721 $ 905,479 $ 861,068 $ 1,476,908 $ 1,564,295 $ 5,806,165 $ 4,807,750 $ 3,310,427
Net premiums written (Note 7) 746,311 899,411 1,180,803 1,269,808 725,367 704,130 1,022,965 929,031 4,096,333 3,381,493 2,131,902
Increase in unearned premiums 282,774 100,772 (170,707) (356,710) 244,758 202,618 (111,463) (379,003) (143,871) (43,090) (155,773)
Net premiums earned (Note 7) 1,029,085 1,000,183 1,010,096 913,098 970,125 906,748 911,502 550,028 3,952,462 3,338,403 1,976,129
Net investment income (Note 5) 81,717 83,543 89,305 99,473 112,138 111,388 118,587 82,094 354,038 424,207 269,965
Net foreign exchange gains (losses) 23,270 17,426 (7,195) (5,728) (1,126) (8,275) 9,309 (2,846) 27,773 (2,938) (12,428)
Equity in earnings of other ventures (Note 5) (1,868) 5,457 9,041 4,564 5,874 5,877 6,812 4,661 17,194 23,224 18,474
Other income 4,374 1,476 (1,201) (4,436) (160) 1,016 922 3,171 213 4,949 5,969
Net realized and unrealized gains (losses) on investments (Note 5) 258,745 224,208 448,390 (110,707) 18,454 34,394 191,248 170,013 820,636 414,109 (183,168)
Total revenues 1,395,323 1,332,293 1,548,436 896,264 1,105,305 1,051,148 1,238,380 807,121 5,172,316 4,201,954 2,074,941
Expenses                      
Net claims and claim expenses incurred (Notes 7 and 8) 901,353 942,030 510,272 570,954 762,093 654,520 453,373 227,035 2,924,609 2,097,021 1,120,018
Acquisition expenses 238,283 215,180 233,610 210,604 208,618 202,181 227,482 123,951 897,677 762,232 432,989
Operational expenses 41,104 49,045 49,077 67,461 64,571 53,415 59,814 44,933 206,687 222,733 178,267
Corporate expenses 21,031 48,050 11,898 15,991 17,642 13,844 23,847 38,789 96,970 94,122 33,983
Interest expense (Note 9) 11,841 11,843 11,842 14,927 15,496 15,580 15,534 11,754 50,453 58,364 47,069
Total expenses 1,213,612 1,266,148 816,699 879,937 1,068,420 939,540 780,050 446,462 4,176,396 3,234,472 1,812,326
Income (loss) before taxes 181,711 66,145 731,737 16,327 36,885 111,608 458,330 360,659 995,920 967,482 262,615
Income tax (expense) benefit (Note 15) 9,923 8,244 (29,875) 8,846 3,455 (3,664) (9,475) (7,531) (2,862) (17,215) 6,302
Net income (loss) 191,634 74,389 701,862 25,173 40,340 107,944 448,855 353,128 993,058 950,267 268,917
Net income attributable to redeemable noncontrolling interests (Note 10)                 (230,653) (201,469) (41,553)
Net income (loss) attributable to RenaissanceRe 197,101 55,088 583,134 (72,918) 42,962 45,887 377,043 282,906 762,405 748,798 227,364
Dividends on preference shares (Note 12) (7,289) (7,289) (7,289) (9,056) (9,189) (9,189) (9,189) (9,189) (30,923) (36,756) (30,088)
Net income available to RenaissanceRe common shareholders $ 189,812 $ 47,799 $ 575,845 $ (81,974) $ 33,773 $ 36,698 $ 367,854 $ 273,717 $ 731,482 $ 712,042 $ 197,276
Net income available to RenaissanceRe common shareholders per common share – basic (in usd per share) $ 3.75 $ 0.94 $ 12.64 $ (1.89) $ 0.77 $ 0.83 $ 8.36 $ 6.43 $ 15.34 $ 16.32 $ 4.91
Net income available to RenaissanceRe common shareholders per common share – diluted (in usd per share) $ 3.74 $ 0.94 $ 12.63 $ (1.89) $ 0.77 $ 0.83 $ 8.35 $ 6.43 $ 15.31 $ 16.29 $ 4.91