v2.3.0.15

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2011
Segment Reporting |
Schedule Of Significant Components Of The Company's Revenues And Expenses |
Three months ended September 30, 2011 |  | Reinsurance |  |  | Lloyd's |  |  | Insurance |  |  | Eliminations |  |  | Other |  |  | Total |
Gross premiums written |  | $ | 122,811 |  |  | $ | 17,127 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 139,938 |
Net premiums written |  | $ | 86,745 |  |  | $ | 16,125 |  |  | $ | 140 |  |  |  |  |  |  |  | — |  |  | $ | 103,010 |
Net premiums earned |  | $ | 208,074 |  |  | $ | 20,797 |  |  | $ | 353 |  |  |  |  |  |  |  | — |  |  | $ | 229,224 |
Net claims and claim expenses incurred |  |  | 58,565 |  |  |  | 14,141 |  |  |  | 5,124 |  |  |  |  |  |  |  | — |  |  |  | 77,830 |
Acquisition expenses |  |  | 21,964 |  |  |  | 4,013 |  |  |  | 80 |  |  |  |  |  |  |  | — |  |  |  | 26,057 |
Operational expenses |  |  | 32,462 |  |  |  | 9,560 |  |  |  | 147 |  |  |  |  |  |  |  | — |  |  |  | 42,169 |
Underwriting income (loss) |  | $ | 95,083 |  |  | $ | (6,917 | ) |  | $ | (4,998 | ) |  |  |  |  |  |  | — |  |  |  | 83,168 |
Net investment loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (27,940 | ) |  |  | (27,940 | )
Net foreign exchange losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,650 | ) |  |  | (2,650 | )
Equity in earnings of other ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,794 |  |  |  | 4,794 |
Other loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,015 | ) |  |  | (2,015 | )
Net realized and unrealized gains on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,983 |  |  |  | 16,983 |
Net other-than-temporary impairments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (449 | ) |  |  | (449 | )
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,582 | ) |  |  | (3,582 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,722 | ) |  |  | (5,722 | )
Income from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 62,587 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,435 |  |  |  | 1,435 |
Loss from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (965 | ) |  |  | (965 | )
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,044 | ) |  |  | (5,044 | )
Dividends on preference shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,750 | ) |  |  | (8,750 | )
Net income available to RenaissanceRe common shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 49,263 |
Net claims and claim expenses incurred - current accident year |  | $ | 72,358 |  |  | $ | 14,089 |  |  | $ | (17 | ) |  |  |  |  |  |  |  |  |  | $ | 86,430 |
Net claims and claim expenses incurred - prior accident years |  |  | (13,793 | ) |  |  | 52 |  |  |  | 5,141 |  |  |  |  |  |  |  |  |  |  |  | (8,600 | )
Net claims and claim expenses incurred - total |  | $ | 58,565 |  |  | $ | 14,141 |  |  | $ | 5,124 |  |  |  |  |  |  |  |  |  |  | $ | 77,830 |
Net claims and claim expense ratio - current accident year |  |  | 34.8 | % |  |  | 67.7 | % |  |  | (4.8 | %) |  |  |  |  |  |  |  |  |  |  | 37.7 | %
Net claims and claim expense ratio - prior accident years |  |  | (6.7 | %) |  |  | 0.3 | % |  |  | 1,456.4 | % |  |  |  |  |  |  |  |  |  |  | (3.7 | %)
Net claims and claim expense ratio - calendar year |  |  | 28.1 | % |  |  | 68.0 | % |  |  | 1,451.6 | % |  |  |  |  |  |  |  |  |  |  | 34.0 | %
Underwriting expense ratio |  |  | 26.2 | % |  |  | 65.3 | % |  |  | 64.3 | % |  |  |  |  |  |  |  |  |  |  | 29.7 | %
Combined ratio |  |  | 54.3 | % |  |  | 133.3 | % |  |  | 1,515.9 | % |  |  |  |  |  |  |  |  |  |  | 63.7 | %
Three months ended September 30, 2010 |  | Reinsurance |  |  | Lloyd's |  |  | Insurance |  |  | Eliminations (1) |  |  | Other |  |  | Total |
Gross premiums written |  | $ | 110,577 |  |  | $ | 8,762 |  |  | $ | 591 |  |  | $ | (8,387 | ) |  | $ | — |  |  | $ | 111,543 |
Net premiums written |  | $ | 86,309 |  |  | $ | 6,141 |  |  | $ | (10,143 | ) |  |  |  |  |  |  | — |  |  | $ | 82,307 |
Net premiums earned |  | $ | 205,057 |  |  | $ | 13,979 |  |  | $ | (6,681 | ) |  |  |  |  |  |  | — |  |  | $ | 212,355 |
Net claims and claim expenses incurred |  |  | 72,480 |  |  |  | 7,687 |  |  |  | (2,231 | ) |  |  |  |  |  |  | — |  |  |  | 77,936 |
Acquisition expenses |  |  | 22,464 |  |  |  | 3,351 |  |  |  | 328 |  |  |  |  |  |  |  | — |  |  |  | 26,143 |
Operational expenses |  |  | 29,637 |  |  |  | 6,246 |  |  |  | 1,087 |  |  |  |  |  |  |  | — |  |  |  | 36,970 |
Underwriting income (loss) |  | $ | 80,476 |  |  | $ | (3,305 | ) |  | $ | (5,865 | ) |  |  |  |  |  |  | — |  |  |  | 71,306 |
Net investment income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 59,570 |  |  |  | 59,570 |
Net foreign exchange losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (529 | ) |  |  | (529 | )
Equity in losses of other ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,740 | ) |  |  | (6,740 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25,021 |  |  |  | 25,021 |
Net realized and unrealized gains on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 92,342 |  |  |  | 92,342 |
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,590 | ) |  |  | (5,590 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,164 | ) |  |  | (6,164 | )
Income from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 229,216 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,399 |  |  |  | 2,399 |
Income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 21,234 |  |  |  | 21,234 |
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (37,524 | ) |  |  | (37,524 | )
Dividends on preference shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,575 | ) |  |  | (10,575 | )
Net income available to RenaissanceRe common shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 204,750 |
Net claims and claim expenses incurred - current accident year |  | $ | 106,344 |  |  | $ | 7,702 |  |  | $ | 816 |  |  |  |  |  |  |  |  |  |  | $ | 114,862 |
Net claims and claim expenses incurred - prior accident years |  |  | (33,864 | ) |  |  | (15 | ) |  |  | (3,047 | ) |  |  |  |  |  |  |  |  |  |  | (36,926 | )
Net claims and claim expenses incurred - total |  | $ | 72,480 |  |  | $ | 7,687 |  |  | $ | (2,231 | ) |  |  |  |  |  |  |  |  |  | $ | 77,936 |
Net claims and claim expense ratio - current accident year |  |  | 51.9 | % |  |  | 55.1 | % |  |  | (12.2 | %) |  |  |  |  |  |  |  |  |  |  | 54.1 | %
Net claims and claim expense ratio - prior accident years |  |  | (16.6 | %) |  |  | (0.1 | %) |  |  | 45.6 | % |  |  |  |  |  |  |  |  |  |  | (17.4 | %)
Net claims and claim expense ratio - calendar year |  |  | 35.3 | % |  |  | 55.0 | % |  |  | 33.4 | % |  |  |  |  |  |  |  |  |  |  | 36.7 | %
Underwriting expense ratio |  |  | 25.5 | % |  |  | 68.6 | % |  |  | (21.2 | %) |  |  |  |  |  |  |  |  |  |  | 29.7 | %
Combined ratio |  |  | 60.8 | % |  |  | 123.6 | % |  |  | 12.2 | % |  |  |  |  |  |  |  |  |  |  | 66.4 | %
(1) | Represents $(1.5) million and $9.8 million of gross premiums ceded from the Insurance segment to the Lloyd's segment and from the Insurance segment to the Reinsurance segment, respectively.
Nine months ended September 30, 2011 |  | Reinsurance |  |  | Lloyd's |  |  | Insurance |  |  | Eliminations (1) |  |  | Other |  |  | Total |
Gross premiums written |  | $ | 1,303,897 |  |  | $ | 87,873 |  |  | $ | 313 |  |  | $ | (77 | ) |  | $ | — |  |  | $ | 1,392,006 |
Net premiums written |  | $ | 906,167 |  |  | $ | 76,946 |  |  | $ | 467 |  |  |  |  |  |  |  | — |  |  | $ | 983,580 |
Net premiums earned |  | $ | 696,964 |  |  | $ | 53,704 |  |  | $ | 1,272 |  |  |  |  |  |  |  | — |  |  | $ | 751,940 |
Net claims and claim expenses incurred |  |  | 797,188 |  |  |  | 53,283 |  |  |  | 7,157 |  |  |  |  |  |  |  | — |  |  |  | 857,628 |
Acquisition expenses |  |  | 62,187 |  |  |  | 9,779 |  |  |  | 309 |  |  |  |  |  |  |  | — |  |  |  | 72,275 |
Operational expenses |  |  | 97,726 |  |  |  | 27,167 |  |  |  | 1,405 |  |  |  |  |  |  |  | — |  |  |  | 126,298 |
Underwriting loss |  | $ | (260,137 | ) |  | $ | (36,525 | ) |  | $ | (7,599 | ) |  |  |  |  |  |  | — |  |  |  | (304,261 | )
Net investment income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 65,669 |  |  |  | 65,669 |
Net foreign exchange losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,511 | ) |  |  | (6,511 | )
Equity in losses of other ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13,831 | ) |  |  | (13,831 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 42,963 |  |  |  | 42,963 |
Net realized and unrealized gains on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 46,748 |  |  |  | 46,748 |
Net other-than-temporary impairments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (449 | ) |  |  | (449 | )
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (9,657 | ) |  |  | (9,657 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,647 | ) |  |  | (17,647 | )
Loss from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (196,976 | )
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,260 |  |  |  | 3,260 |
Loss from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,585 | ) |  |  | (12,585 | )
Net loss attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 58,545 |  |  |  | 58,545 |
Dividends on preference shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (26,250 | ) |  |  | (26,250 | )
Net loss attributable to RenaissanceRe common shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (174,006 | )
Net claims and claim expenses incurred - current accident year |  | $ | 902,118 |  |  | $ | 53,027 |  |  | $ | (86 | ) |  |  |  |  |  |  |  |  |  | $ | 955,059 |
Net claims and claim expenses incurred - prior accident years |  |  | (104,930 | ) |  |  | 256 |  |  |  | 7,243 |  |  |  |  |  |  |  |  |  |  |  | (97,431 | )
Net claims and claim expenses incurred - total |  | $ | 797,188 |  |  | $ | 53,283 |  |  | $ | 7,157 |  |  |  |  |  |  |  |  |  |  | $ | 857,628 |
Net claims and claim expense ratio - current accident year |  |  | 129.4 | % |  |  | 98.7 | % |  |  | (6.8 | %) |  |  |  |  |  |  |  |  |  |  | 127.0 | %
Net claims and claim expense ratio - prior accident years |  |  | (15.0 | %) |  |  | 0.5 | % |  |  | 569.5 | % |  |  |  |  |  |  |  |  |  |  | (12.9 | %)
Net claims and claim expense ratio - calendar year |  |  | 114.4 | % |  |  | 99.2 | % |  |  | 562.7 | % |  |  |  |  |  |  |  |  |  |  | 114.1 | %
Underwriting expense ratio |  |  | 22.9 | % |  |  | 68.8 | % |  |  | 134.7 | % |  |  |  |  |  |  |  |  |  |  | 26.4 | %
Combined ratio |  |  | 137.3 | % |  |  | 168.0 | % |  |  | 697.4 | % |  |  |  |  |  |  |  |  |  |  | 140.5 | %
(1) | Represents $0.1 million of gross premiums ceded from the Reinsurance segment to the Lloyd's segment.
Nine months ended September 30, 2010 |  | Reinsurance |  |  | Lloyd's |  |  | Insurance |  |  | Eliminations (1) |  |  | Other |  |  | Total |
Gross premiums written |  | $ | 1,105,679 |  |  | $ | 57,627 |  |  | $ | 1,276 |  |  | $ | (30,488 | ) |  | $ | — |  |  | $ | 1,134,094 |
Net premiums written |  | $ | 793,967 |  |  | $ | 52,122 |  |  | $ | (27,289 | ) |  |  |  |  |  |  | — |  |  | $ | 818,800 |
Net premiums earned |  | $ | 646,349 |  |  | $ | 37,580 |  |  | $ | (8,750 | ) |  |  |  |  |  |  | — |  |  | $ | 675,179 |
Net claims and claim expenses incurred |  |  | 141,095 |  |  |  | 18,026 |  |  |  | (2,648 | ) |  |  |  |  |  |  | — |  |  |  | 156,473 |
Acquisition expenses |  |  | 63,064 |  |  |  | 7,682 |  |  |  | 5,412 |  |  |  |  |  |  |  | — |  |  |  | 76,158 |
Operational expenses |  |  | 93,523 |  |  |  | 17,333 |  |  |  | 9,304 |  |  |  |  |  |  |  | — |  |  |  | 120,160 |
Underwriting income (loss) |  | $ | 348,667 |  |  | $ | (5,461 | ) |  | $ | (20,818 | ) |  |  |  |  |  |  | — |  |  |  | 322,388 |
Net investment income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 151,452 |  |  |  | 151,452 |
Net foreign exchange losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,480 | ) |  |  | (12,480 | )
Equity in losses of other ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,424 | ) |  |  | (1,424 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,088 |  |  |  | 15,088 |
Net realized and unrealized gains on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 210,593 |  |  |  | 210,593 |
Net other-than-temporary impairments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (829 | ) |  |  | (829 | )
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,392 | ) |  |  | (15,392 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,526 | ) |  |  | (15,526 | )
Income from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 653,870 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,320 |  |  |  | 6,320 |
Income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 51,562 |  |  |  | 51,562 |
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (99,989 | ) |  |  | (99,989 | )
Dividends on preference shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (31,725 | ) |  |  | (31,725 | )
Net income available to RenaissanceRe common shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 580,038 |
Net claims and claim expenses incurred - current accident year |  | $ | 361,403 |  |  | $ | 18,202 |  |  | $ | 6,302 |  |  |  |  |  |  |  |  |  |  | $ | 385,907 |
Net claims and claim expenses incurred - prior accident years |  |  | (220,308 | ) |  |  | (176 | ) |  |  | (8,950 | ) |  |  |  |  |  |  |  |  |  |  | (229,434 | )
Net claims and claim expenses incurred - total |  | $ | 141,095 |  |  | $ | 18,026 |  |  | $ | (2,648 | ) |  |  |  |  |  |  |  |  |  | $ | 156,473 |
Net claims and claim expense ratio - current accident year |  |  | 55.9 | % |  |  | 48.4 | % |  |  | (72.0 | %) |  |  |  |  |  |  |  |  |  |  | 57.2 | %
Net claims and claim expense ratio - prior accident years |  |  | (34.1 | %) |  |  | (0.4 | %) |  |  | 102.3 | % |  |  |  |  |  |  |  |  |  |  | (34.0 | %)
Net claims and claim expense ratio - calendar year |  |  | 21.8 | % |  |  | 48.0 | % |  |  | 30.3 | % |  |  |  |  |  |  |  |  |  |  | 23.2 | %
Underwriting expense ratio |  |  | 24.3 | % |  |  | 66.5 | % |  |  | (168.2 | %) |  |  |  |  |  |  |  |  |  |  | 29.1 | %
Combined ratio |  |  | 46.1 | % |  |  | 114.5 | % |  |  | (137.9 | %) |  |  |  |  |  |  |  |  |  |  | 52.3 | %
(1) | Represents $20.1 million, $10.1 million and $0.2 million of gross premiums ceded from the Insurance segment to the Lloyd's segment, from the Insurance segment to the Reinsurance segment and from the Reinsurance segment to Lloyd's segment, respectively.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6905597&loc=d3e13816-109267 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 + Details
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