Quarterly Financial Information (Unaudited) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Quarter ended March 31, | | Quarter ended June 30, | | Quarter ended September 30, | | Quarter ended December 31, | | | | 2020 | | 2019 | | 2020 | | 2019 | | 2020 | | 2019 | | 2020 | | 2019 | | | Revenues | | | | | | | | | | | | | | | | | | Gross premiums written | $ | 2,025,721 | | | $ | 1,564,295 | | | $ | 1,701,872 | | | $ | 1,476,908 | | | $ | 1,143,058 | | | $ | 861,068 | | | $ | 935,514 | | | $ | 905,479 | | | | Net premiums written | $ | 1,269,808 | | | $ | 929,031 | | | $ | 1,180,803 | | | $ | 1,022,965 | | | $ | 899,411 | | | $ | 704,130 | | | $ | 746,311 | | | $ | 725,367 | | | | (Increase) decrease in unearned premiums | (356,710) | | | (379,003) | | | (170,707) | | | (111,463) | | | 100,772 | | | 202,618 | | | 282,774 | | | 244,758 | | | | Net premiums earned | 913,098 | | | 550,028 | | | 1,010,096 | | | 911,502 | | | 1,000,183 | | | 906,748 | | | 1,029,085 | | | 970,125 | | | | Net investment income | 99,473 | | | 82,094 | | | 89,305 | | | 118,587 | | | 83,543 | | | 111,388 | | | 81,717 | | | 112,138 | | | | Net foreign exchange (losses) gains | (5,728) | | | (2,846) | | | (7,195) | | | 9,309 | | | 17,426 | | | (8,275) | | | 23,270 | | | (1,126) | | | | Equity in earnings (losses) of other ventures | 4,564 | | | 4,661 | | | 9,041 | | | 6,812 | | | 5,457 | | | 5,877 | | | (1,868) | | | 5,874 | | | | Other (loss) income | (4,436) | | | 3,171 | | | (1,201) | | | 922 | | | 1,476 | | | 1,016 | | | 4,374 | | | (160) | | | | Net realized and unrealized (losses) gains on investments | (110,707) | | | 170,013 | | | 448,390 | | | 191,248 | | | 224,208 | | | 34,394 | | | 258,745 | | | 18,454 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total revenues | 896,264 | | | 807,121 | | | 1,548,436 | | | 1,238,380 | | | 1,332,293 | | | 1,051,148 | | | 1,395,323 | | | 1,105,305 | | | | Expenses | | | | | | | | | | | | | | | | | | Net claims and claim expenses incurred | 570,954 | | | 227,035 | | | 510,272 | | | 453,373 | | | 942,030 | | | 654,520 | | | 901,353 | | | 762,093 | | | | Acquisition costs | 210,604 | | | 123,951 | | | 233,610 | | | 227,482 | | | 215,180 | | | 202,181 | | | 238,283 | | | 208,618 | | | | Operational expenses | 67,461 | | | 44,933 | | | 49,077 | | | 59,814 | | | 49,045 | | | 53,415 | | | 41,104 | | | 64,571 | | | | Corporate expenses | 15,991 | | | 38,789 | | | 11,898 | | | 23,847 | | | 48,050 | | | 13,844 | | | 21,031 | | | 17,642 | | | | Interest expense | 14,927 | | | 11,754 | | | 11,842 | | | 15,534 | | | 11,843 | | | 15,580 | | | 11,841 | | | 15,496 | | | | Total expenses | 879,937 | | | 446,462 | | | 816,699 | | | 780,050 | | | 1,266,148 | | | 939,540 | | | 1,213,612 | | | 1,068,420 | | | | Income before taxes | 16,327 | | | 360,659 | | | 731,737 | | | 458,330 | | | 66,145 | | | 111,608 | | | 181,711 | | | 36,885 | | | | Income tax benefit (expense) | 8,846 | | | (7,531) | | | (29,875) | | | (9,475) | | | 8,244 | | | (3,664) | | | 9,923 | | | 3,455 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | 25,173 | | | 353,128 | | | 701,862 | | | 448,855 | | | 74,389 | | | 107,944 | | | 191,634 | | | 40,340 | | | | Net (income) loss attributable to redeemable noncontrolling interests | (98,091) | | | (70,222) | | | (118,728) | | | (71,812) | | | (19,301) | | | (62,057) | | | 5,467 | | | 2,622 | | | | Net (loss) income attributable to RenaissanceRe | (72,918) | | | 282,906 | | | 583,134 | | | 377,043 | | | 55,088 | | | 45,887 | | | 197,101 | | | 42,962 | | | | Dividends on preference shares | (9,056) | | | (9,189) | | | (7,289) | | | (9,189) | | | (7,289) | | | (9,189) | | | (7,289) | | | (9,189) | | | | Net (loss) income (attributable) available to RenaissanceRe common shareholders | $ | (81,974) | | | $ | 273,717 | | | $ | 575,845 | | | $ | 367,854 | | | $ | 47,799 | | | $ | 36,698 | | | $ | 189,812 | | | $ | 33,773 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net (loss) income (attributable) available to RenaissanceRe common shareholders per common share – basic | $ | (1.89) | | | $ | 6.43 | | | $ | 12.64 | | | $ | 8.36 | | | $ | 0.94 | | | $ | 0.83 | | | $ | 3.75 | | | $ | 0.77 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net (loss) income (attributable) available to RenaissanceRe common shareholders per common share – diluted | $ | (1.89) | | | $ | 6.43 | | | $ | 12.63 | | | $ | 8.35 | | | $ | 0.94 | | | $ | 0.83 | | | $ | 3.74 | | | $ | 0.77 | | | | Average shares outstanding – basic | 43,441 | | | 42,065 | | | 44,939 | | | 43,483 | | | 50,009 | | | 43,462 | | | 50,022 | | | 43,467 | | | | Average shares outstanding – diluted | 43,441 | | | 42,091 | | | 45,003 | | | 43,521 | | | 50,094 | | | 43,537 | | | 50,111 | | | 43,552 | | | | | | | | | | | | | | | | | 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