XML 54 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows provided by operating activities    
Net income $ 465,679,000 $ 513,326,000
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization, accretion and depreciation 30,270,000 42,423,000
Equity in undistributed earnings of other ventures (16,519,000) (12,048,000)
Net realized and unrealized (gains) losses on investments (10,958,000) 26,806,000
Net unrealized gains included in net investment income (2,908,000) (33,836,000)
Net unrealized (gains) losses included in other (loss) income (264,000) 12,782,000
Change in:    
Premiums receivable (156,631,000) (244,572,000)
Prepaid reinsurance premiums (129,846,000) (89,258,000)
Reinsurance recoverable 21,982,000 43,311,000
Deferred acquisition costs (48,424,000) (51,222,000)
Reserve for claims and claim expenses (30,950,000) (195,668,000)
Unearned premiums 280,384,000 354,560,000
Reinsurance balances payable 208,133,000 68,569,000
Other (216,559,000) (49,375,000)
Net cash provided by operating activities 393,389,000 385,798,000
Cash flows provided by (used in) investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 5,896,330,000 6,356,691,000
Purchases of fixed maturity investments trading (5,843,501,000) (6,449,697,000)
Proceeds from sales and maturities of fixed maturity investments available for sale 6,076,000 43,564,000
Net purchases of equity investments trading (33,925,000) (33,714,000)
Net sales (purchases) of short term investments 21,578,000 (118,126,000)
Net sales of other investments 74,706,000 198,101,000
Net sales (purchases) of investments in other ventures 1,030,000 (2,500,000)
Net sales (puchases) of other assets 6,000,000 (994,000)
Net cash provided by (used in) investing activities 128,294,000 (6,675,000)
Cash flows used in financing activities    
Dividends paid – RenaissanceRe common shares (34,834,000) (36,956,000)
Dividends paid – preference shares (16,786,000) (19,353,000)
RenaissanceRe common share repurchases (475,343,000) (140,911,000)
Net repayment of debt 0 (100,847,000)
Net third party redeemable noncontrolling interest share transactions (107,091,000) (103,628,000)
Net cash used in financing activities (634,054,000) (411,040,000)
Effect of exchange rate changes on foreign currency cash 4,886,000 3,366,000
Net decrease in cash and cash equivalents (107,485,000) (28,551,000)
Net increase in cash and cash equivalents of discontinued operations 0 (9,244,000)
Cash and cash equivalents, beginning of period 408,032,000 304,145,000
Cash and cash equivalents, end of period $ 300,547,000 $ 266,350,000