XML 72 R32.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Schedule II. Condensed Financial Information Of Registrant | 12 Months Ended
--- | ---
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Registrant | SCHEDULE II RENAISSANCERE HOLDINGS LTD. CONDENSED FINANCIAL INFORMATION OF REGISTRANT RENAISSANCERE HOLDINGS LTD. BALANCE SHEETS AT DECEMBER 31, 2014 AND 2013 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
| At December 31,
| 2014 |  | 2013
Assets |  |  |
Short term investments, at fair value | $ | 137,006 |  |  | $ | 210,719 |
Cash and cash equivalents | 5,986 |  |  | 8,796 |
Investments in subsidiaries | 3,509,974 |  |  | 3,294,729 |
Due from subsidiaries | 10,164 |  |  | 16,479 |
Dividends due from subsidiaries | 116,384 |  |  | 280,273 |
Receivable for investments sold | 10 |  |  | 14 |
Other assets | 112,400 |  |  | 112,234 |
Total Assets | $ | 3,891,924 |  |  | $ | 3,923,244 |
Liabilities and Shareholders’ Equity |  |  |
Liabilities |  |  |
Contributions due to subsidiaries | $ | 6,000 |  |  | $ | — |
Other liabilities | 20,209 |  |  | 18,860 |
Total Liabilities | 26,209 |  |  | 18,860 |
Shareholders’ Equity |  |  |
Preference shares: $1.00 par value – 16,000,000 shares issued and outstanding at December 31, 2014 (December 31, 2013 – 16,000,000) | 400,000 |  |  | 400,000 |
Common shares: $1.00 par value – 38,441,972 shares issued and outstanding at December 31, 2014 (December 31, 2013 – 43,646,436) | 38,442 |  |  | 43,646 |
Accumulated other comprehensive income | 3,416 |  |  | 4,131 |
Retained earnings | 3,423,857 |  |  | 3,456,607 |
Total Shareholders’ Equity | 3,865,715 |  |  | 3,904,384 |
Total Liabilities and Shareholders’ Equity | $ | 3,891,924 |  |  | $ | 3,923,244 |
SCHEDULE II RENAISSANCERE HOLDINGS LTD. CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED RENAISSANCERE HOLDINGS LTD. STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2014, 2013 AND 2012 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
| Year ended December 31,
| 2014 |  | 2013 |  | 2012
Revenues |  |  |  |  |
Net investment income | $ | 2,706 |  |  | $ | 4,213 |  |  | $ | 14,195 |
Net foreign exchange gains (losses) | (13 | ) |  | (7 | ) |  | 33 |
Other income | — |  |  | 106 |  |  | 2,822 |
Net realized and unrealized gains (losses) on investments | 83 |  |  | (483 | ) |  | 14,862 |
Total revenues | 2,776 |  |  | 3,829 |  |  | 31,912 |
Expenses |  |  |  |  |
Interest expense | — |  |  | 734 |  |  | 5,875 |
Operational expenses | (4,890 | ) |  | (4,962 | ) |  | (5,103 | )
Corporate expenses | 20,787 |  |  | 31,264 |  |  | 14,282 |
Total expenses | 15,897 |  |  | 27,036 |  |  | 15,054 |
(Loss) income before equity in net income of subsidiaries and taxes | (13,121 | ) |  | (23,207 | ) |  | 16,858 |
Equity in net income of subsidiaries | 545,839 |  |  | 713,831 |  |  | 584,051 |
Net income | 532,718 |  |  | 690,624 |  |  | 600,909 |
Dividends on preference shares | (22,381 | ) |  | (24,948 | ) |  | (34,895 | )
Net income available to RenaissanceRe common shareholders | $ | 510,337 |  |  | $ | 665,676 |  |  | $ | 566,014 |
RENAISSANCERE HOLDINGS LTD. STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2014, 2013 AND 2012 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
| Year ended December 31,
| 2014 |  | 2013 |  | 2012
Comprehensive income |  |  |  |  |
Net income | $ | 532,718 |  |  | $ | 690,624 |  |  | $ | 600,909 |
Comprehensive income attributable to RenaissanceRe | $ | 532,718 |  |  | $ | 690,624 |  |  | $ | 600,909 |
SCHEDULE II RENAISSANCERE HOLDINGS LTD. CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED RENAISSANCERE HOLDINGS LTD. STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2014, 2013 AND 2012 (PARENT COMPANY) (THOUSANDS OF UNITED STATES DOLLARS)
| Year ended December 31,
| 2014 |  | 2013 |  | 2012
Cash flows (used in) provided by operating activities: |  |  |  |  |
Net income | $ | 532,718 |  |  | $ | 690,624 |  |  | $ | 600,909 |
Less: equity in net income of subsidiaries | (545,839 | ) |  | (713,831 | ) |  | (584,051 | )
| (13,121 | ) |  | (23,207 | ) |  | 16,858 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities |  |  |  |  |
Net unrealized losses included in net investment income | — |  |  | — |  |  | 348 |
Net unrealized gains included in other loss | — |  |  | (20 | ) |  | (193 | )
Net realized and unrealized (gains) losses on investments | (83 | ) |  | 483 |  |  | (14,862 | )
Other | 13,633 |  |  | (15,222 | ) |  | 126,416 |
Net cash provided by (used in) operating activities | 429 |  |  | (37,966 | ) |  | 128,567 |
Cash flows provided by investing activities: |  |  |  |  |
Proceeds from maturities and sales of fixed maturity investments trading | 88,273 |  |  | 880,749 |  |  | 744,211 |
Purchases of fixed maturity investments trading | (88,341 | ) |  | (491,768 | ) |  | (692,783 | )
Net sales (purchases) of short term investments | 73,717 |  |  | 21,217 |  |  | (80,485 | )
Dividends and return of capital from subsidiaries | 1,259,224 |  |  | 504,241 |  |  | 979,311 |
Contributions to subsidiaries | (759,456 | ) |  | (500,652 | ) |  | (366,210 | )
Due to (from) subsidiary | 6,315 |  |  | 17,446 |  |  | (15,359 | )
Net cash provided by investing activities | 579,732 |  |  | 431,233 |  |  | 568,685 |
Cash flows used in financing activities: |  |  |  |  |
Dividends paid – RenaissanceRe common shares | (45,912 | ) |  | (49,267 | ) |  | (53,356 | )
Dividends paid – preference shares | (22,381 | ) |  | (24,948 | ) |  | (34,895 | )
RenaissanceRe common share repurchases | (514,678 | ) |  | (207,410 | ) |  | (463,309 | )
Redemption of 6.08% Series C preference shares | — |  |  | (125,000 | ) |  | — |
Redemption of 6.60% Series D preference shares | — |  |  | (150,000 | ) |  | (150,000 | )
Issuance of 5.375% Series E preference share, net of expenses | — |  |  | 265,856 |  |  | — |
Net repayment of debt | — |  |  | (100,000 | ) |  | — |
Net cash used in financing activities | (582,971 | ) |  | (390,769 | ) |  | (701,560 | )
Net (decrease) increase in cash and cash equivalents | (2,810 | ) |  | 2,498 |  |  | (4,308 | )
Cash and cash equivalents, beginning of year | 8,796 |  |  | 6,298 |  |  | 10,606 |
Cash and cash equivalents, end of year | $ | 5,986 |  |  | $ | 8,796 |  |  | $ | 6,298 |

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration