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 |
X | ||||||||||
- Definition The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of amortization expense (reversal of expense) for deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of decrease (increase) in unearned premiums. No definition available.
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
|
X | ||||||||||
- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
|
X | ||||||||||
- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of direct and assumed premiums written. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|