XML 32 R67.htm IDEA: XBRL DOCUMENT v3.3.0.814
Segment Reporting (Schedule Of Significant Components Of The Company's Revenues And Expenses) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Segment Reporting Information [Line Items]        
Gross premiums written $ 369,642 $ 200,992 $ 1,675,217 $ 1,417,792
Net premiums written 266,820 159,713 1,179,532 956,467
Net premiums earned 362,388 258,979 1,038,976 805,929
Net claims and claim expenses incurred 100,028 69,647 346,225 209,950
Acquisition expenses 78,126 37,550 183,193 104,727
Operational expenses 54,518 46,972 154,812 135,437
Underwriting income (loss) 129,716 104,810 354,746 355,815
Net investment income 28,338 24,941 106,649 98,430
Net foreign exchange gains (losses) 616 5,036 (4,254) 6,367
Equity in earnings of other ventures 5,730 9,806 17,185 21,237
Other income (loss) 2,306 (1,169) 5,272 (1,642)
Net realized and unrealized (losses) gains on investments (41,138) (31,097) (26,101) 10,958
Corporate expenses (7,502) (3,905) (66,132) (12,404)
Interest expense (10,362) (4,290) (25,311) (12,875)
Income before taxes 107,704 104,132 362,054 465,886
Income tax benefit (expense) 4,573 (245) 54,319 (207)
Net income attributable to noncontrolling interests (31,153) (30,477) (82,982) (109,323)
Dividends on preference shares (5,595) (5,595) (16,786) (16,786)
Net income available to RenaissanceRe common shareholders 75,529 67,815 316,605 339,570
Net claims and claim expenses incurred – current accident year 170,378 94,987 471,796 269,066
Net claims and claim expenses incurred – prior accident years (70,350) (25,340) (125,571) (59,116)
Net claims and claim expenses incurred – total $ 100,028 $ 69,647 $ 346,225 $ 209,950
Net claims and claim expense ratio – current accident year 47.00% 36.70% 45.40% 33.40%
Net claims and claim expense ratio – prior accident years (19.40%) (9.80%) (12.10%) (7.30%)
Net claims and claim expense ratio – calendar year 27.60% 26.90% 33.30% 26.10%
Underwriting expense ratio 36.60% 32.60% 32.60% 29.80%
Combined ratio 64.20% 59.50% 65.90% 55.90%
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Gross premiums written     $ (100)  
Catastrophe Reinsurance        
Segment Reporting Information [Line Items]        
Gross premiums written $ 81,692 $ 68,252 856,305 $ 924,046
Net premiums written 55,182 41,807 548,312 534,994
Net premiums earned 159,641 136,719 466,113 460,455
Net claims and claim expenses incurred 22,319 (666) 85,289 42,519
Acquisition expenses 14,048 9,131 41,016 34,063
Operational expenses 23,513 24,154 65,966 66,773
Underwriting income (loss) 99,761 104,100 273,842 317,100
Net claims and claim expenses incurred – current accident year 36,244 9,661 127,702 60,663
Net claims and claim expenses incurred – prior accident years (13,925) (10,327) (42,413) (18,144)
Net claims and claim expenses incurred – total $ 22,319 $ (666) $ 85,289 $ 42,519
Net claims and claim expense ratio – current accident year 22.70% 7.10% 27.40% 13.20%
Net claims and claim expense ratio – prior accident years (8.70%) (7.60%) (9.10%) (4.00%)
Net claims and claim expense ratio – calendar year 14.00% (0.50%) 18.30% 9.20%
Underwriting expense ratio 23.50% 24.40% 22.90% 21.90%
Combined ratio 37.50% 23.90% 41.20% 31.10%
Specialty Reinsurance        
Segment Reporting Information [Line Items]        
Gross premiums written $ 214,372 $ 68,883 $ 498,676 $ 274,727
Net premiums written 155,987 61,879 399,769 233,622
Net premiums earned 146,213 63,473 396,673 186,691
Net claims and claim expenses incurred 41,005 31,759 166,655 77,915
Acquisition expenses 50,432 15,806 99,372 44,052
Operational expenses 17,542 10,234 49,579 30,854
Underwriting income (loss) 37,234 5,674 81,067 33,870
Net claims and claim expenses incurred – current accident year 96,737 46,444 250,316 113,809
Net claims and claim expenses incurred – prior accident years (55,732) (14,685) (83,661) (35,894)
Net claims and claim expenses incurred – total $ 41,005 $ 31,759 $ 166,655 $ 77,915
Net claims and claim expense ratio – current accident year 66.20% 73.20% 63.10% 61.00%
Net claims and claim expense ratio – prior accident years (38.20%) (23.20%) (21.10%) (19.30%)
Net claims and claim expense ratio – calendar year 28.00% 50.00% 42.00% 41.70%
Underwriting expense ratio 46.50% 41.10% 37.60% 40.20%
Combined ratio 74.50% 91.10% 79.60% 81.90%
Lloyd's        
Segment Reporting Information [Line Items]        
Gross premiums written $ 73,578 $ 63,857 $ 320,326 $ 219,019
Net premiums written 55,651 56,027 231,540 187,848
Net premiums earned 56,534 58,788 176,279 158,757
Net claims and claim expenses incurred 36,425 39,027 93,951 90,419
Acquisition expenses 13,654 12,614 42,557 33,303
Operational expenses 13,427 12,475 39,086 37,566
Underwriting income (loss) (6,972) (5,328) 685 (2,531)
Net claims and claim expenses incurred – current accident year 37,397 38,882 93,778 94,594
Net claims and claim expenses incurred – prior accident years (972) 145 173 (4,175)
Net claims and claim expenses incurred – total $ 36,425 $ 39,027 $ 93,951 $ 90,419
Net claims and claim expense ratio – current accident year 66.10% 66.10% 53.20% 59.60%
Net claims and claim expense ratio – prior accident years (1.70%) 0.30% 0.10% (2.60%)
Net claims and claim expense ratio – calendar year 64.40% 66.40% 53.30% 57.00%
Underwriting expense ratio 47.90% 42.70% 46.30% 44.60%
Combined ratio 112.30% 109.10% 99.60% 101.60%
Other        
Segment Reporting Information [Line Items]        
Gross premiums written $ 0 $ 0 $ (90) $ 0
Net premiums written 0 0 (89) 3
Net premiums earned 0 (1) (89) 26
Net claims and claim expenses incurred 279 (473) 330 (903)
Acquisition expenses (8) (1) 248 (6,691)
Operational expenses 36 109 181 244
Underwriting income (loss) (307) 364 (848) 7,376
Net investment income 28,338 24,941 106,649 98,430
Net foreign exchange gains (losses) 616 5,036 (4,254) 6,367
Equity in earnings of other ventures 5,730 9,806 17,185 21,237
Other income (loss) 2,306 (1,169) 5,272 (1,642)
Net realized and unrealized (losses) gains on investments (41,138) (31,097) (26,101) 10,958
Corporate expenses (7,502) (3,905) (66,132) (12,404)
Interest expense (10,362) (4,290) (25,311) (12,875)
Income tax benefit (expense) 4,573 (245) 54,319 (207)
Net income attributable to noncontrolling interests (31,153) (30,477) (82,982) (109,323)
Dividends on preference shares (5,595) (5,595) (16,786) (16,786)
Net claims and claim expenses incurred – current accident year 0 0 0 0
Net claims and claim expenses incurred – prior accident years 279 (473) 330 (903)
Net claims and claim expenses incurred – total $ 279 $ (473) $ 330 $ (903)