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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2024
Segment Reporting, Measurement Disclosures [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s reportable segments are defined as follows: (1) Property, which is comprised of catastrophe and other property (re)insurance written on behalf of the Company’s consolidated operating subsidiaries, joint ventures and managed funds, and (2) Casualty and Specialty, which is comprised of casualty and specialty (re)insurance written on behalf of the Company’s consolidated operating subsidiaries, joint ventures and managed funds. In addition to its reportable segments, the Company has an Other category, which primarily includes its investments unit, strategic investments, corporate expenses, capital servicing costs, noncontrolling interests and certain expenses related to acquisitions and dispositions.
The Company does not manage its assets by segment; accordingly, net investment income and total assets are not allocated to the segments.
A summary of the significant components of the Company’s revenues and expenses by segment is as follows:
Three months ended September 30, 2024PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$790,709 $1,609,427 $— $2,400,136 
Net premiums written$701,222 $1,461,282 $— $2,162,504 
Net premiums earned$994,777 $1,588,192 $— $2,582,969 
Net claims and claim expenses incurred329,967 1,043,647 — 1,373,614 
Acquisition expenses192,439 497,899 — 690,338 
Operational expenses77,688 47,573 — 125,261 
Underwriting income (loss)$394,683 $(927)$— 393,756 
Net investment income423,859 423,859 
Net foreign exchange gains (losses)16,804 16,804 
Equity in earnings of other ventures5,718 5,718 
Other income (loss)680 680 
Net realized and unrealized gains (losses) on investments943,745 943,745 
Corporate expenses(26,078)(26,078)
Interest expense(23,809)(23,809)
Income (loss) before taxes and redeemable noncontrolling interests1,734,675 
Income tax benefit (expense)(102,012)(102,012)
Net (income) loss attributable to redeemable noncontrolling interests(450,176)(450,176)
Dividends on preference shares(8,843)(8,843)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$1,173,644 
Net claims and claim expenses incurred – current accident year$621,710 $1,044,410 $— $1,666,120 
Net claims and claim expenses incurred – prior accident years(291,743)(763)— (292,506)
Net claims and claim expenses incurred – total$329,967 $1,043,647 $— $1,373,614 
Net claims and claim expense ratio – current accident year62.5 %65.8 %64.5 %
Net claims and claim expense ratio – prior accident years(29.3)%(0.1)%(11.3)%
Net claims and claim expense ratio – calendar year33.2 %65.7 %53.2 %
Underwriting expense ratio27.1 %34.4 %31.6 %
Combined ratio60.3 %100.1 %84.8 %
Nine months ended September 30, 2024PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$4,433,688 $5,382,627 $— $9,816,315 
Net premiums written$3,457,500 $4,743,088 $— $8,200,588 
Net premiums earned$2,911,694 $4,656,500 $— $7,568,194 
Net claims and claim expenses incurred757,570 3,091,669 — 3,849,239 
Acquisition expenses566,566 1,399,131 — 1,965,697 
Operational expenses206,737 132,747 — 339,484 
Underwriting income (loss)$1,380,821 $32,953 $— 1,413,774 
Net investment income1,225,479 1,225,479 
Net foreign exchange gains (losses)(27,694)(27,694)
Equity in earnings of other ventures32,435 32,435 
Other income (loss)799 799 
Net realized and unrealized gains (losses) on investments602,507 602,507 
Corporate expenses(100,489)(100,489)
Interest expense(70,522)(70,522)
Income (loss) before taxes and redeemable noncontrolling interests3,076,289 
Income tax benefit (expense)(96,536)(96,536)
Net (income) loss attributable to redeemable noncontrolling interests(919,734)(919,734)
Dividends on preference shares(26,531)(26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$2,033,488 
Net claims and claim expenses incurred – current accident year$1,228,371 $3,118,726 $— $4,347,097 
Net claims and claim expenses incurred – prior accident years(470,801)(27,057)— (497,858)
Net claims and claim expenses incurred – total$757,570 $3,091,669 $— $3,849,239 
Net claims and claim expense ratio – current accident year42.2 %67.0 %57.4 %
Net claims and claim expense ratio – prior accident years(16.2)%(0.6)%(6.5)%
Net claims and claim expense ratio – calendar year26.0 %66.4 %50.9 %
Underwriting expense ratio26.6 %32.9 %30.4 %
Combined ratio52.6 %99.3 %81.3 %
Three months ended September 30, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$511,012 $1,107,431 $— $1,618,443 
Net premiums written$444,872 $976,388 $— $1,421,260 
Net premiums earned$760,365 $995,511 $— $1,755,876 
Net claims and claim expenses incurred206,361 655,215 — 861,576 
Acquisition expenses143,348 282,397 — 425,745 
Operational expenses54,624 28,127 — 82,751 
Underwriting income (loss)$356,032 $29,772 $— 385,804 
Net investment income329,108 329,108 
Net foreign exchange gains (losses)(25,886)(25,886)
Equity in earnings of other ventures10,842 10,842 
Other income (loss)(5,866)(5,866)
Net realized and unrealized gains (losses) on investments(228,087)(228,087)
Corporate expenses(17,143)(17,143)
Interest expense(22,951)(22,951)
Income (loss) before taxes and redeemable noncontrolling interests425,821 
Income tax benefit (expense)(9,295)(9,295)
Net (income) loss attributable to redeemable noncontrolling interests(213,695)(213,695)
Dividends on preference shares(8,843)(8,843)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$193,988 
Net claims and claim expenses incurred – current accident year$350,238 $669,285 $— $1,019,523 
Net claims and claim expenses incurred – prior accident years(143,877)(14,070)— (157,947)
Net claims and claim expenses incurred – total$206,361 $655,215 $— $861,576 
Net claims and claim expense ratio – current accident year46.1 %67.2 %58.1 %
Net claims and claim expense ratio – prior accident years(19.0)%(1.4)%(9.0)%
Net claims and claim expense ratio – calendar year27.1 %65.8 %49.1 %
Underwriting expense ratio26.1 %31.2 %28.9 %
Combined ratio53.2 %97.0 %78.0 %
Nine months ended September 30, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$3,217,817 $3,842,508 $— $7,060,325 
Net premiums written$2,609,356 $3,271,410 $— $5,880,766 
Net premiums earned$2,206,471 $3,015,217 $— $5,221,688 
Net claims and claim expenses incurred675,963 1,918,024 — 2,593,987 
Acquisition expenses429,273 851,274 — 1,280,547 
Operational expenses165,514 75,202 — 240,716 
Underwriting income (loss)$935,721 $170,717 $— 1,106,438 
Net investment income876,148 876,148 
Net foreign exchange gains (losses)(53,877)(53,877)
Equity in earnings of other ventures28,072 28,072 
Other income (loss)(6,296)(6,296)
Net realized and unrealized gains (losses) on investments(171,417)(171,417)
Corporate expenses(53,357)(53,357)
Interest expense(49,980)(49,980)
Income (loss) before taxes and redeemable noncontrolling interests1,675,731 
Income tax benefit (expense)(44,139)(44,139)
Net (income) loss attributable to redeemable noncontrolling interests(655,986)(655,986)
Dividends on preference shares(26,531)(26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$949,075 
Net claims and claim expenses incurred – current accident year$933,172 $1,955,612 $— $2,888,784 
Net claims and claim expenses incurred – prior accident years(257,209)(37,588)— (294,797)
Net claims and claim expenses incurred – total$675,963 $1,918,024 $— $2,593,987 
Net claims and claim expense ratio – current accident year42.3 %64.9 %55.3 %
Net claims and claim expense ratio – prior accident years(11.7)%(1.3)%(5.6)%
Net claims and claim expense ratio – calendar year30.6 %63.6 %49.7 %
Underwriting expense ratio27.0 %30.7 %29.1 %
Combined ratio57.6 %94.3 %78.8 %