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Schedule II. Condensed Financial Information Of Registrant
 12 Months Ended
Dec. 31, 2015
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, 2015 AND 2014
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
At December 31,
 
2015
 
2014
Assets
 
 
 
Fixed maturity investments trading, at fair value (Amortized cost $96,957 and $Nil at December 31, 2015 and 2014, respectively)
$
96,441

 
$
—

Short term investments, at fair value
253,451

 
137,006

Cash and cash equivalents
10,185

 
5,986

Investments in subsidiaries
3,902,519

 
3,509,974

Due from subsidiaries
19,168

 
10,164

Dividends due from subsidiaries
62,114

 
116,384

Accrued investment income
1,253

 
—

Receivable for investments sold
26

 
10

Other assets
390,302

 
112,400

Goodwill and other intangible assets
137,064

 
—

Total Assets
$
4,872,523

 
$
3,891,924

Liabilities and Shareholders’ Equity
 
 
 
Liabilities
 
 
 
Notes and bank loans payable
$
117,000

 
$
—

Due to subsidiaries
2,641

 
6,000

Payable for investments purchased
999

 
—

Other liabilities
19,699

 
20,209

Total Liabilities
140,339

 
26,209

Shareholders’ Equity
 
 
 
Preference shares: $1.00 par value – 16,000,000 shares issued and outstanding at December 31, 2015 (December 31, 2014 – 16,000,000)
400,000

 
400,000

Common shares: $1.00 par value – 43,701,064 shares issued and outstanding at December 31, 2015 (December 31, 2014 – 38,441,972)
43,701

 
38,442

Additional paid-in capital
507,674

 
—

Accumulated other comprehensive income
2,108

 
3,416

Retained earnings
3,778,701

 
3,423,857

Total Shareholders’ Equity
4,732,184

 
3,865,715

Total Liabilities and Shareholders’ Equity
$
4,872,523

 
$
3,891,924


SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2015
 
2014
 
2013
Revenues
 
 
 
 
 
Net investment income
$
15,391

 
$
2,706

 
$
4,213

Net foreign exchange gains (losses)
4

 
(13
)
 
(7
)
Other income
663

 
—

 
106

Net realized and unrealized (losses) gains on investments
(2,080
)
 
83

 
(483
)
Total revenues
13,978

 
2,776

 
3,829

Expenses
 
 
 
 
 
Interest expense
1,255

 
—

 
734

Operational expenses
4,249

 
(4,890
)
 
(4,962
)
Corporate expenses
40,808

 
20,787

 
31,264

Total expenses
46,312

 
15,897

 
27,036

Loss before equity in net income of subsidiaries
(32,334
)
 
(13,121
)
 
(23,207
)
Equity in net income of subsidiaries
463,526

 
545,839

 
713,831

Net income
431,192

 
532,718

 
690,624

Dividends on preference shares
(22,381
)
 
(22,381
)
 
(24,948
)
Net income available to RenaissanceRe common shareholders
$
408,811

 
$
510,337

 
$
665,676


RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2015
 
2014
 
2013
Comprehensive income
 
 
 
 
 
Net income
$
431,192

 
$
532,718

 
$
690,624

Comprehensive income attributable to RenaissanceRe
$
431,192

 
$
532,718

 
$
690,624

SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2015
 
2014
 
2013
Cash flows (used in) provided by operating activities:
 
 
 
 
 
Net income
$
431,192

 
$
532,718

 
$
690,624

Less: equity in net income of subsidiaries
(463,526
)
 
(545,839
)
 
(713,831
)
 
(32,334
)
 
(13,121
)
 
(23,207
)
Adjustments to reconcile net income to net cash (used in) provided by operating activities
 
 
 
 
 
Net unrealized gains included in other income
—

 
—

 
(20
)
Net realized and unrealized losses (gains) on investments
2,080

 
(83
)
 
483

Other
(8,959
)
 
13,633

 
(13,764
)
Net cash (used in) provided by operating activities
(39,213
)
 
429

 
(36,508
)
Cash flows provided by investing activities:
 
 
 
 
 
Proceeds from maturities and sales of fixed maturity investments trading
63,824

 
88,273

 
880,749

Purchases of fixed maturity investments trading
(161,183
)
 
(88,341
)
 
(491,768
)
Net (purchases) sales of short term investments
(116,461
)
 
73,717

 
21,217

Dividends and return of capital from subsidiaries
1,584,624

 
1,259,224

 
504,241

Contributions to subsidiaries
(294,733
)
 
(759,456
)
 
(500,652
)
Due to (from) subsidiary
207,996

 
6,315

 
15,988

Net purchase of Platinum
(904,433
)
 
—

 
—

Net cash provided by investing activities
379,634

 
579,732

 
429,775

Cash flows used in financing activities:
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(53,967
)
 
(45,912
)
 
(49,267
)
Dividends paid – preference shares
(22,381
)
 
(22,381
)
 
(24,948
)
RenaissanceRe common share repurchases
(259,874
)
 
(514,678
)
 
(207,410
)
Redemption of 6.08% Series C preference shares
—

 
—

 
(125,000
)
Redemption of 6.60% Series D preference shares
—

 
—

 
(150,000
)
Issuance of 5.375% Series E preference share, net of expenses
—

 
—

 
265,856

Repayment of debt
—

 
—

 
(100,000
)
Net cash used in financing activities
(336,222
)
 
(582,971
)
 
(390,769
)
Net increase (decrease) in cash and cash equivalents
4,199

 
(2,810
)
 
2,498

Cash and cash equivalents, beginning of year
5,986

 
8,796

 
6,298

Cash and cash equivalents, end of year
$
10,185

 
$
5,986

 
$
8,796