XML 60 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows provided by operating activities    
Net income $ 416,373 $ 465,679
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization, accretion and depreciation 3,837 30,270
Equity in undistributed earnings of other ventures (11,303) (16,519)
Net realized and unrealized losses (gains) on investments 26,101 (10,958)
Net unrealized losses (gains) included in net investment income 10,690 (2,908)
Net unrealized losses (gains) included in other income (loss) 426 (264)
Change in:    
Premiums receivable (191,470) (156,631)
Prepaid reinsurance premiums (156,184) (129,846)
Reinsurance recoverable (70,994) 21,982
Deferred acquisition costs (103,460) (48,424)
Reserve for claims and claim expenses (14,293) (30,950)
Unearned premiums 296,950 280,384
Reinsurance balances payable 74,124 208,133
Other (118,650) (216,559)
Net cash provided by operating activities 162,147 393,389
Cash flows (used in) provided by investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 6,956,729 5,896,330
Purchases of fixed maturity investments trading (7,194,793) (5,843,501)
Proceeds from sales and maturities of fixed maturity investments available for sale 6,741 6,076
Net purchases of equity investments trading (153,452) (33,925)
Net sales of short term investments 896,027 21,578
Net sales of other investments 7,033 74,706
Net (purchases) sales of investments in other ventures (45) 1,030
Net sales of other assets 4,500 6,000
Net purchase of Platinum (678,152) 0
Net cash (used in) provided by investing activities (155,412) 128,294
Cash flows provided by (used in) financing activities    
Dividends paid – RenaissanceRe common shares (40,883) (34,834)
Dividends paid – preference shares (16,786) (16,786)
RenaissanceRe common share repurchases (197,350) (475,343)
Issuance of debt, net of expenses 445,589 0
Net third party redeemable noncontrolling interest share transactions (187,339) (107,091)
Net cash provided by (used in) financing activities 3,231 (634,054)
Effect of exchange rate changes on foreign currency cash (11,004) 4,886
Net decrease in cash and cash equivalents (1,038) (107,485)
Cash and cash equivalents, beginning of period 525,584 408,032
Cash and cash equivalents, end of period $ 524,546 $ 300,547