|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Tables)
|
6 Months Ended |
|
Jun. 30, 2012
|
| Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] |
|
| Condensed Consolidating Balance Sheet |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Balance Sheet at June 30, 2012 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | Consolidating Adjustments (2) | | RenaissanceRe Consolidated | Assets | | | | | | | | | | Total investments | $ | 348,875 |
| | $ | 41,934 |
| | $ | 6,199,801 |
| | $ | — |
| | $ | 6,590,610 |
| Cash and cash equivalents | 4,749 |
| | 871 |
| | 258,612 |
| | — |
| | 264,232 |
| Investments in subsidiaries | 3,277,526 |
| | 104,976 |
| | — |
| | (3,382,502 | ) | | — |
| Due from subsidiaries and affiliates | 117,128 |
| | — |
| | — |
| | (117,128 | ) | | — |
| Premiums receivable | — |
| | — |
| | 971,546 |
| | — |
| | 971,546 |
| Prepaid reinsurance premiums | — |
| | — |
| | 278,242 |
| | — |
| | 278,242 |
| Reinsurance recoverable | — |
| | — |
| | 198,777 |
| | — |
| | 198,777 |
| Accrued investment income | 3,030 |
| | 79 |
| | 32,829 |
| | — |
| | 35,938 |
| Deferred acquisition costs | — |
| | — |
| | 106,027 |
| | — |
| | 106,027 |
| Other assets | 209,827 |
| | 27,710 |
| | 495,109 |
| | (218,500 | ) | | 514,146 |
| Total assets | $ | 3,961,135 |
| | $ | 175,570 |
| | $ | 8,540,943 |
| | $ | (3,718,130 | ) | | $ | 8,959,518 |
| Liabilities, Noncontrolling Interests and Shareholders’ Equity | | | | | | | | | | Liabilities | | | | | | | | | | Reserve for claims and claim expenses | $ | — |
| | $ | — |
| | $ | 1,801,247 |
| | $ | — |
| | $ | 1,801,247 |
| Unearned premiums | — |
| | — |
| | 964,499 |
| | — |
| | 964,499 |
| Debt | 100,000 |
| | 249,293 |
| | 5,000 |
| | — |
| | 354,293 |
| Amounts due to subsidiaries and affiliates | — |
| | 5,215 |
| | — |
| | (5,215 | ) | | — |
| Reinsurance balances payable | — |
| | — |
| | 396,669 |
| | — |
| | 396,669 |
| Other liabilities | 18,125 |
| | 5,571 |
| | 670,814 |
| | (1,458 | ) | | 693,052 |
| Liabilities of discontinued operations held for sale | — |
| | 1,959 |
| | — |
| | — |
| | 1,959 |
| Total liabilities | 118,125 |
| | 262,038 |
| | 3,838,229 |
| | (6,673 | ) | | 4,211,719 |
| Redeemable noncontrolling interest – DaVinciRe | — |
| | — |
| | 900,878 |
| | — |
| | 900,878 |
| Shareholders’ Equity | | | | | | | | | | Total shareholders’ equity | 3,843,010 |
| | (86,468 | ) | | 3,801,836 |
| | (3,711,457 | ) | | 3,846,921 |
| Total liabilities, noncontrolling interests and shareholders’ equity | $ | 3,961,135 |
| | $ | 175,570 |
| | $ | 8,540,943 |
| | $ | (3,718,130 | ) | | $ | 8,959,518 |
|
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | (2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Balance Sheet at December 31, 2011 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | Consolidating Adjustments (2) | | RenaissanceRe Consolidated | Assets | | | | | | | | | | Total investments | $ | 593,973 |
| | $ | 104,869 |
| | $ | 5,510,410 |
| | $ | — |
| | $ | 6,209,252 |
| Cash and cash equivalents | 10,606 |
| | 4,920 |
| | 201,458 |
| | — |
| | 216,984 |
| Investments in subsidiaries | 2,776,997 |
| | 83,031 |
| | — |
| | (2,860,028 | ) | | — |
| Due from subsidiaries and affiliates | 172,069 |
| | 846 |
| | — |
| | (172,915 | ) | | — |
| Premiums receivable | — |
| | — |
| | 471,878 |
| | — |
| | 471,878 |
| Prepaid reinsurance premiums | — |
| | — |
| | 58,522 |
| | — |
| | 58,522 |
| Reinsurance recoverable | — |
| | — |
| | 404,029 |
| | — |
| | 404,029 |
| Accrued investment income | 4,106 |
| | 311 |
| | 29,106 |
| | — |
| | 33,523 |
| Deferred acquisition costs | — |
| | — |
| | 43,721 |
| | — |
| | 43,721 |
| Other assets | 206,171 |
| | 27,198 |
| | 275,092 |
| | (201,458 | ) | | 307,003 |
| Total assets | $ | 3,763,922 |
| | $ | 221,175 |
| | $ | 6,994,216 |
| | $ | (3,234,401 | ) | | $ | 7,744,912 |
| Liabilities, Redeemable Noncontrolling Interest and Shareholders’ Equity | | | | | | | | | | Liabilities | | | | | | | | | | Reserve for claims and claim expenses | $ | — |
| | $ | — |
| | $ | 1,992,354 |
| | $ | — |
| | $ | 1,992,354 |
| Unearned premiums | — |
| | — |
| | 347,655 |
| | — |
| | 347,655 |
| Debt | 100,000 |
| | 249,247 |
| | 4,373 |
| | — |
| | 353,620 |
| Amounts due to subsidiaries and affiliates | 30,519 |
| | 6,081 |
| | — |
| | (36,600 | ) | | — |
| Reinsurance balances payable | — |
| | — |
| | 256,883 |
| | — |
| | 256,883 |
| Other liabilities | 28,210 |
| | 3,755 |
| | 482,668 |
| | — |
| | 514,633 |
| Liabilities of discontinued operations held for sale | — |
| | 13,507 |
| | — |
| | — |
| | 13,507 |
| Total liabilities | 158,729 |
| | 272,590 |
| | 3,083,933 |
| | (36,600 | ) | | 3,478,652 |
| Redeemable noncontrolling interest – DaVinciRe | — |
| | — |
| | 657,727 |
| | — |
| | 657,727 |
| Shareholders’ Equity | | | | | | | | | | Total shareholders’ equity | 3,605,193 |
| | (51,415 | ) | | 3,252,556 |
| | (3,197,801 | ) | | 3,608,533 |
| Total liabilities, redeemable noncontrolling interest and shareholders’ equity | $ | 3,763,922 |
| | $ | 221,175 |
| | $ | 6,994,216 |
| | $ | (3,234,401 | ) | | $ | 7,744,912 |
|
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | (2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. |
|
| Condensed Consolidating Statement Of Operations |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Operations for
the six months ended June 30, 2012 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | Consolidating Adjustments (2) | | RenaissanceRe Consolidated | Revenues | | | | | | | | | | Net premiums earned | $ | — |
| | $ | — |
| | $ | 523,081 |
| | $ | — |
| | $ | 523,081 |
| Net investment income | 7,691 |
| | 475 |
| | 77,697 |
| | (4,149 | ) | | 81,714 |
| Net foreign exchange gains | 7 |
| | — |
| | 943 |
| | — |
| | 950 |
| Equity in earnings of other ventures | — |
| | — |
| | 12,316 |
| | — |
| | 12,316 |
| Other income (loss) | 152 |
| | — |
| | (27,957 | ) | | — |
| | (27,805 | ) | Net realized and unrealized gains on investments | 8,419 |
| | 1,052 |
| | 67,645 |
| | — |
| | 77,116 |
| Net other-than-temporary impairments | — |
| | — |
| | (343 | ) | | — |
| | (343 | ) | Total revenues | 16,269 |
| | 1,527 |
| | 653,382 |
| | (4,149 | ) | | 667,029 |
| Expenses | | | | | | | | | | Net claims and claim expenses incurred | — |
| | — |
| | 65,103 |
| | — |
| | 65,103 |
| Acquisition expenses | — |
| | — |
| | 49,719 |
| | — |
| | 49,719 |
| Operational expenses | (2,614 | ) | | 3,757 |
| | 82,647 |
| | — |
| | 83,790 |
| Corporate expenses | 7,679 |
| | 152 |
| | 1,047 |
| | — |
| | 8,878 |
| Interest expense | 2,938 |
| | 7,233 |
| | 1,263 |
| | — |
| | 11,434 |
| Total expenses | 8,003 |
| | 11,142 |
| | 199,779 |
| | — |
| | 218,924 |
| Income (loss) before equity in net income (loss) of subsidiaries and taxes | 8,266 |
| | (9,615 | ) | | 453,603 |
| | (4,149 | ) | | 448,105 |
| Equity in net income (loss) of subsidiaries | 352,933 |
| | (23,757 | ) | | — |
| | (329,176 | ) | | — |
| Income (loss) from continuing operations before taxes | 361,199 |
| | (33,372 | ) | | 453,603 |
| | (333,325 | ) | | 448,105 |
| Income tax (expense) benefit | — |
| | (2,968 | ) | | 2,107 |
| | — |
| | (861 | ) | Income (loss) from continuing operations | 361,199 |
| | (36,340 | ) | | 455,710 |
| | (333,325 | ) | | 447,244 |
| Income from discontinued operations | — |
| | 1,220 |
| | — |
| | — |
| | 1,220 |
| Net income (loss) | 361,199 |
| | (35,120 | ) | | 455,710 |
| | (333,325 | ) | | 448,464 |
| Net income attributable to noncontrolling interests | — |
| | — |
| | (87,265 | ) | | — |
| | (87,265 | ) | Net income (loss) attributable to RenaissanceRe | 361,199 |
| | (35,120 | ) | | 368,445 |
| | (333,325 | ) | | 361,199 |
| Dividends on preference shares | (17,500 | ) | | — |
| | — |
| | — |
| | (17,500 | ) | Net income (loss) attributable to RenaissanceRe common shareholders | $ | 343,699 |
| | $ | (35,120 | ) | | $ | 368,445 |
| | $ | (333,325 | ) | | $ | 343,699 |
|
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | (2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Operations
for the six months ended June 30, 2011 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | Consolidating Adjustments (2) | | RenaissanceRe Consolidated | Revenues | | | | | | | | | | Net premiums earned | $ | — |
| | $ | — |
| | $ | 522,716 |
| | $ | — |
| | $ | 522,716 |
| Net investment income | 10,750 |
| | 219 |
| | 84,643 |
| | (2,003 | ) | | 93,609 |
| Net foreign exchange gains (losses) | 96 |
| | — |
| | (3,957 | ) | | — |
| | (3,861 | ) | Equity in losses of other ventures | — |
| | — |
| | (18,625 | ) | | — |
| | (18,625 | ) | Other income | 195 |
| | — |
| | 44,783 |
| | — |
| | 44,978 |
| Net realized and unrealized gains (losses) on investments | 2,332 |
| | (39 | ) | | 27,472 |
| | — |
| | 29,765 |
| Total revenues | 13,373 |
| | 180 |
| | 657,032 |
| | (2,003 | ) | | 668,582 |
| Expenses | | | | | | | | | | Net claims and claim expenses incurred | — |
| | — |
| | 779,798 |
| | — |
| | 779,798 |
| Acquisition expenses | — |
| | — |
| | 46,218 |
| | — |
| | 46,218 |
| Operational expenses | (2,416 | ) | | 3,044 |
| | 83,501 |
| | — |
| | 84,129 |
| Corporate expenses | 5,515 |
| | 109 |
| | 451 |
| | — |
| | 6,075 |
| Interest expense | 7,534 |
| | 7,335 |
| | 1,754 |
| | (4,698 | ) | | 11,925 |
| Total expenses | 10,633 |
| | 10,488 |
| | 911,722 |
| | (4,698 | ) | | 928,145 |
| Income (loss) before equity in net loss of subsidiaries and taxes | 2,740 |
| | (10,308 | ) | | (254,690 | ) | | 2,695 |
| | (259,563 | ) | Equity in net loss subsidiaries | (208,799 | ) | | (732 | ) | | — |
| | 209,531 |
| | — |
| Loss from continuing operations before taxes | (206,059 | ) | | (11,040 | ) | | (254,690 | ) | | 212,226 |
| | (259,563 | ) | Income tax benefit (expense) | 290 |
| | 3,077 |
| | (1,542 | ) | | — |
| | 1,825 |
| Loss from continuing operations | (205,769 | ) | | (7,963 | ) | | (256,232 | ) | | 212,226 |
| | (257,738 | ) | Loss from discontinued operations | — |
| | (11,620 | ) | | — |
| | — |
| | (11,620 | ) | Net loss | (205,769 | ) | | (19,583 | ) | | (256,232 | ) | | 212,226 |
| | (269,358 | ) | Net loss attributable to redeemable noncontrolling interest – DaVinciRe | — |
| | — |
| | 63,589 |
| | — |
| | 63,589 |
| Net loss attributable to RenaissanceRe | (205,769 | ) | | (19,583 | ) | | (192,643 | ) | | 212,226 |
| | (205,769 | ) | Dividends on preference shares | (17,500 | ) | | — |
| | — |
| | — |
| | (17,500 | ) | Net loss attributable to RenaissanceRe common shareholders | $ | (223,269 | ) | | $ | (19,583 | ) | | $ | (192,643 | ) | | $ | 212,226 |
| | $ | (223,269 | ) |
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | (2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. |
|
| Condensed Consolidated Statement of Other Comprehensive Income (Loss) |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Comprehensive Loss for the six months ended June 30, 2011 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | Consolidating Adjustments (2) | | RenaissanceRe Consolidated | Comprehensive loss | | | | | | | | | | Net loss | $ | (205,769 | ) | | $ | (19,583 | ) | | $ | (256,232 | ) | | $ | 212,226 |
| | $ | (269,358 | ) | Change in net unrealized gains on investments | — |
| | — |
| | (1,798 | ) | | — |
| | (1,798 | ) | Portion of other-than-temporary impairments recognized in other comprehensive loss | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive loss | (205,769 | ) | | (19,583 | ) | | (258,030 | ) | | 212,226 |
| | (271,156 | ) | Net loss attributable to noncontrolling interests | — |
| | — |
| | 63,589 |
| | — |
| | 63,589 |
| Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | — |
| | — |
| | 6 |
| | — |
| | 6 |
| Comprehensive loss attributable to noncontrolling interests | — |
| | — |
| | 63,595 |
| | — |
| | 63,595 |
| Comprehensive loss attributable to RenaissanceRe | $ | (205,769 | ) | | $ | (19,583 | ) | | $ | (194,435 | ) | | $ | 212,226 |
| | $ | (207,561 | ) |
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | (2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. |
| | | | | | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Comprehensive Income (Loss) for the six months ended June 30, 2012 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | Consolidating Adjustments (2) | | RenaissanceRe Consolidated | Comprehensive income (loss) | | | | | | | | | | Net income (loss) | $ | 361,199 |
| | $ | (35,120 | ) | | $ | 455,710 |
| | $ | (333,325 | ) | | $ | 448,464 |
| Change in net unrealized gains on investments | — |
| | — |
| | 823 |
| | — |
| | 823 |
| Portion of other-than-temporary impairments recognized in other comprehensive income | — |
| | — |
| | (52 | ) | | — |
| | (52 | ) | Comprehensive income (loss) | 361,199 |
| | (35,120 | ) | | 456,481 |
| | (333,325 | ) | | 449,235 |
| Net income attributable to noncontrolling interests | — |
| | — |
| | (87,265 | ) | | — |
| | (87,265 | ) | Change in net unrealized gains on fixed maturity investments available for sale attributable to noncontrolling interests | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income attributable to noncontrolling interests | — |
| | — |
| | (87,265 | ) | | — |
| | (87,265 | ) | Comprehensive income (loss) attributable to RenaissanceRe | $ | 361,199 |
| | $ | (35,120 | ) | | $ | 369,216 |
| | $ | (333,325 | ) | | $ | 361,970 |
|
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | (2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. |
|
| Condensed Consolidating Statement Of Cash Flows |
| | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Cash Flows
for the six months ended June 30, 2012 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | RenaissanceRe Consolidated | Cash flows provided by (used in) operating activities | | | | | | | | Net cash provided by (used in) operating activities | $ | 9,361 |
| | $ | (21,004 | ) | | $ | 315,420 |
| | $ | 303,777 |
| Cash flows provided by (used in) investing activities | | | | | | | | Proceeds from sales and maturities of fixed maturity investments trading | 507,082 |
| | 124,658 |
| | 4,160,962 |
| | 4,792,702 |
| Purchases of fixed maturity investments trading | (405,809 | ) | | (57,652 | ) | | (4,849,441 | ) | | (5,312,902 | ) | Proceeds from sales and maturities of fixed maturity investments available for sale | — |
| | — |
| | 37,530 |
| | 37,530 |
| Net sales (purchases) of short term investments | 141,196 |
| | (3,483 | ) | | 45,892 |
| | 183,605 |
| Net sales of other investments | — |
| | — |
| | 18,681 |
| | 18,681 |
| Net sales of other assets | — |
| | — |
| | (166 | ) | | (166 | ) | Dividends and return of capital from subsidiaries | 256,153 |
| | 4,298 |
| | (260,451 | ) | | — |
| Contributions to subsidiaries | (372,700 | ) | | (50,000 | ) | | 422,700 |
| | — |
| Due to (from) subsidiary | (5,856 | ) | | (866 | ) | | 6,722 |
| | — |
| Net cash provided by (used in) investing activities | 120,066 |
| | 16,955 |
| | (417,571 | ) | | (280,550 | ) | Cash flows (used in) provided by financing activities | | | | | | | | Dividends paid – RenaissanceRe common shares | (27,673 | ) | | — |
| | — |
| | (27,673 | ) | Dividends paid – preference shares | (17,500 | ) | | — |
| | — |
| | (17,500 | ) | RenaissanceRe common share repurchases | (90,111 | ) | | — |
| | — |
| | (90,111 | ) | Third party DaVinciRe share transactions | — |
| | — |
| | 160,864 |
| | 160,864 |
| Net cash (used in) provided by financing activities | (135,284 | ) | | — |
| | 160,864 |
| | 25,580 |
| Effect of exchange rate changes on foreign currency cash | — |
| | — |
| | (1,559 | ) | | (1,559 | ) | Net (decrease) increase in cash and cash equivalents | (5,857 | ) | | (4,049 | ) | | 57,154 |
| | 47,248 |
| Cash and cash equivalents, beginning of period | 10,606 |
| | 4,920 |
| | 201,458 |
| | 216,984 |
| Cash and cash equivalents, end of period | $ | 4,749 |
| | $ | 871 |
| | $ | 258,612 |
| | $ | 264,232 |
|
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
| | | | | | | | | | | | | | | | | Condensed Consolidating Statement of Cash Flows
for the six months ended June 30, 2011 | RenaissanceRe Holdings Ltd. (Parent Guarantor) | | RenRe North America Holdings Inc. (Subsidiary Issuer) | | Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) | | RenaissanceRe Consolidated | Cash flows provided by (used in) operating activities | | | | | | | | Net cash provided by (used in) operating activities | $ | 123,220 |
| | $ | (25,043 | ) | | $ | (67,181 | ) | | $ | 30,996 |
| Cash flows provided by investing activities | | | | | | | | Proceeds from sales and maturities of fixed maturity investments trading | 28,749 |
| | 72,982 |
| | 2,777,484 |
| | 2,879,215 |
| Purchases of fixed maturity investments trading | (33,626 | ) | | (208,847 | ) | | (2,569,205 | ) | | (2,811,678 | ) | Proceeds from sales and maturities of fixed maturity investments available for sale | — |
| | — |
| | 48,135 |
| | 48,135 |
| Purchases of fixed maturity investments available for sale | — |
| | — |
| | (4,078 | ) | | (4,078 | ) | Net purchases of equity investments trading | — |
| | — |
| | (32,676 | ) | | (32,676 | ) | Net sales of short term investments | 24,965 |
| | 7,468 |
| | 18,419 |
| | 50,852 |
| Net sales (purchases) of other investments | 102,717 |
| | — |
| | (126,598 | ) | | (23,881 | ) | Net purchases of investments in other ventures | — |
| | — |
| | (21,000 | ) | | (21,000 | ) | Net sales of other assets | — |
| | — |
| | 46,984 |
| | 46,984 |
| Dividends and return of capital from subsidiaries | 718,294 |
| | 9,306 |
| | (727,600 | ) | | — |
| Contributions to subsidiaries | (262,115 | ) | | (5,700 | ) | | 267,815 |
| | — |
| Due (from) to subsidiaries | (230,079 | ) | | 1,645 |
| | 228,434 |
| | — |
| Net proceeds from sale of discontinued operations held for sale | — |
| | 269,520 |
| | — |
| | 269,520 |
| Net cash provided by investing activities | 348,905 |
| | 146,374 |
| | (93,886 | ) | | 401,393 |
| Cash flows used in financing activities | | | | | | | | Dividends paid – RenaissanceRe common shares | (26,721 | ) | | — |
| | — |
| | (26,721 | ) | Dividends paid – preference shares | (17,500 | ) | | — |
| | — |
| | (17,500 | ) | RenaissanceRe common share repurchases | (174,792 | ) | | — |
| | — |
| | (174,792 | ) | Net repayment of debt | (253,512 | ) | | (124,995 | ) | | 178,507 |
| | (200,000 | ) | Third party DaVinciRe share transactions | — |
| | — |
| | (56,708 | ) | | (56,708 | ) | Net cash used in financing activities | (472,525 | ) | | (124,995 | ) | | 121,799 |
| | (475,721 | ) | Effect of exchange rate changes on foreign currency cash | — |
| | — |
| | 3,331 |
| | 3,331 |
| Net decrease in cash and cash equivalents | (400 | ) | | (3,664 | ) | | (35,937 | ) | | (40,001 | ) | Cash and cash equivalents, beginning of period | 3,414 |
| | 3,940 |
| | 270,384 |
| | 277,738 |
| Cash and cash equivalents, end of period | $ | 3,014 |
| | $ | 276 |
| | $ | 234,447 |
| | $ | 237,737 |
|
| | (1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |
|