Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract]

Condensed Consolidating Balance Sheets



Condensed Consolidating Balance Sheet at March 31, 2016	RenaissanceRe Holdings Ltd. (Parent Guarantor)		RenRe North America Holdings Inc. (Subsidiary Issuer)		Platinum Underwriters Finance, Inc. (Subsidiary Issuer)		RenaissanceRe Finance, Inc. (Subsidiary Issuer)		Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)		Consolidating Adjustments (2)			RenaissanceRe Consolidated
Assets
Total investments	$	363,935	$	122,378	$	300,411	$	—	$	8,253,477	$	—		$	9,040,201
Cash and cash equivalents	5,106		265		2,233		6,443		435,102		—			449,149
Investments in subsidiaries	3,886,801		45,715		890,244		1,210,210		—		(6,032,970		)	—
Due from subsidiaries and affiliates	166,761		83,978		—		—		—		(250,739		)	—
Premiums receivable	—		—		—		—		1,094,116		—			1,094,116
Prepaid reinsurance premiums	—		—		—		—		444,954		—			444,954
Reinsurance recoverable	—		—		—		—		167,228		—			167,228
Accrued investment income	1,505		257		464		—		35,266		—			37,492
Deferred acquisition costs	—		—		—		—		287,291		—			287,291
Receivable for investments sold	19		9		28		—		204,250		—			204,306
Other assets	396,973		28,749		12,510		126,958		110,121		(507,797		)	167,514
Goodwill and other intangible assets	135,400		—		—		—		126,262		—			261,662
Total assets	$	4,956,500	$	281,351	$	1,205,890	$	1,343,611	$	11,158,067	$	(6,791,506	)	$	12,153,913
Liabilities, Noncontrolling Interests and Shareholders’ Equity
Liabilities
Reserve for claims and claim expenses	$	—	$	—	$	—	$	—	$	2,811,523	$	—		$	2,811,523
Unearned premiums	—		—		—		—		1,261,454		—			1,261,454
Debt	117,000		—		264,985		545,363		147,188		(117,000		)	957,536
Amounts due to subsidiaries and affiliates	70,981		199		343		89,183		—		(160,706		)	—
Reinsurance balances payable	—		—		—		—		618,344		—			618,344
Payable for investments purchased	—		48		14,852		—		439,693		—			454,593
Other liabilities	7,926		205		14,370		6,648		194,735		(15,351		)	208,533
Total liabilities	195,907		452		294,550		641,194		5,472,937		(293,057		)	6,311,983
Redeemable noncontrolling interests	—		—		—		—		1,081,337		—			1,081,337
Shareholders’ Equity
Total shareholders’ equity	4,760,593		280,899		911,340		702,417		4,603,793		(6,498,449		)	4,760,593
Total liabilities, noncontrolling interests and shareholders’ equity	$	4,956,500	$	281,351	$	1,205,890	$	1,343,611	$	11,158,067	$	(6,791,506	)	$	12,153,913


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.


(2)	Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.



Condensed Consolidating Balance Sheet at December 31, 2015	RenaissanceRe Holdings Ltd. (Parent Guarantor)		RenRe North America Holdings Inc. (Subsidiary Issuer)		Platinum Underwriters Finance, Inc. (Subsidiary Issuer)		RenaissanceRe Finance, Inc. (Subsidiary Issuer)		Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)		Consolidating Adjustments (2)			RenaissanceRe Consolidated
Assets
Total investments	$	349,892	$	127,087	$	205,777	$	—	$	8,316,312	$	—		$	8,999,068
Cash and cash equivalents	10,185		5,908		7,103		677		483,012		—			506,885
Investments in subsidiaries	3,902,519		48,754		867,909		1,185,736		—		(6,004,918		)	—
Due from subsidiaries and affiliates	81,282		69,739		—		—		—		(151,021		)	—
Premiums receivable	—		—		—		—		778,009		—			778,009
Prepaid reinsurance premiums	—		—		—		—		230,671		—			230,671
Reinsurance recoverable	—		—		—		—		134,526		—			134,526
Accrued investment income	1,253		169		348		—		37,979		—			39,749
Deferred acquisition costs	—		—		—		—		199,380		—			199,380
Receivable for investments sold	26		1		68,537		—		152,270		—			220,834
Other assets	390,302		29,532		12,852		115,456		124,215		(491,346		)	181,011
Goodwill and other intangible assets	137,064		—		—		—		128,090		—			265,154
Total assets	$	4,872,523	$	281,190	$	1,162,526	$	1,301,869	$	10,584,464	$	(6,647,285	)	$	11,555,287
Liabilities, Redeemable Noncontrolling Interest and Shareholders’ Equity
Liabilities
Reserve for claims and claim expenses	$	—	$	—	$	—	$	—	$	2,767,045	$	—		$	2,767,045
Unearned premiums	—		—		—		—		889,102		—			889,102
Debt	117,000		—		268,196		545,187		147,112		(117,000		)	960,495
Amounts due to subsidiaries and affiliates	2,641		202		204		68,204		—		(71,251		)	—
Reinsurance balances payable	—		—		—		—		523,974		—			523,974
Payable for investments purchased	999		6		25		—		390,348		—			391,378
Other liabilities	19,699		1,148		6,620		—		222,320		(4,642		)	245,145
Total liabilities	140,339		1,356		275,045		613,391		4,939,901		(192,893		)	5,777,139
Redeemable noncontrolling interests	—		—		—		—		1,045,964		—			1,045,964
Shareholders’ Equity
Total shareholders’ equity	4,732,184		279,834		887,481		688,478		4,598,599		(6,454,392		)	4,732,184
Total liabilities, redeemable noncontrolling interest and shareholders’ equity	$	4,872,523	$	281,190	$	1,162,526	$	1,301,869	$	10,584,464	$	(6,647,285	)	$	11,555,287


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.


(2)	Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments.

Condensed Consolidating Statements of Operations



Condensed Consolidating Statement of Operations for the three months ended March 31, 2015	RenaissanceRe Holdings Ltd. (Parent Guarantor)			RenRe North America Holdings Inc. (Subsidiary Issuer)			Platinum Underwriters Finance, Inc. (Subsidiary Issuer)			RenaissanceRe Finance, Inc. (Subsidiary Issuer)			Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)			Consolidating Adjustments (2)			RenaissanceRe Consolidated
Revenues
Net premiums earned	$	—		$	—		$	—		$	—		$	296,760		$	—		$	296,760
Net investment income (loss)	2,624			331			(40		)	36			37,730			(974		)	39,707
Net foreign exchange losses	(10		)	—			—			—			(3,120		)	—			(3,130		)
Equity in earnings of other ventures	—			—			—			—			5,295			—			5,295
Other income	166			—			—			—			1,538			(165		)	1,539
Net realized and unrealized gains on investments	39			406			1			—			41,303			—			41,749
Total revenues	2,819			737			(39		)	36			379,506			(1,139		)	381,920
Expenses
Net claims and claim expenses incurred	—			—			—			—			76,853			—			76,853
Acquisition expenses	—			—			—			—			43,401			—			43,401
Operational expenses	3,809			1,890			1			—			39,920			1			45,621
Corporate expenses	24,486			39			—			—			21,008			—			45,533
Interest expense	295			3,676			492			222			667			(36		)	5,316
Total expenses	28,590			5,605			493			222			181,849			(35		)	216,724
(Loss) income before equity in net income (loss) of subsidiaries and taxes	(25,771		)	(4,868		)	(532		)	(186		)	197,657			(1,104		)	165,196
Equity in net income (loss) of subsidiaries	200,945			3,416			1,410			43,902			—			(249,673		)	—
Income (loss) before taxes	175,174			(1,452		)	878			43,716			197,657			(250,777		)	165,196
Income tax (expense) benefit	(1,736		)	31,005			(695		)	65			19,265			—			47,904
Net income (loss)	173,438			29,553			183			43,781			216,922			(250,777		)	213,100
Net income attributable to redeemable noncontrolling interests	—			—			—			—			(39,662		)	—			(39,662		)
Net income (loss) attributable to RenaissanceRe	173,438			29,553			183			43,781			177,260			(250,777		)	173,438
Dividends on preference shares	(5,595		)	—			—			—			—			—			(5,595		)
Net income (loss) available (attributable) to RenaissanceRe common shareholders	$	167,843		$	29,553		$	183		$	43,781		$	177,260		$	(250,777	)	$	167,843


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.


(2)	Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments.



Condensed Consolidating Statement of Operations for the three months ended March 31, 2016	RenaissanceRe Holdings Ltd. (Parent Guarantor)			RenRe North America Holdings Inc. (Subsidiary Issuer)			Platinum Underwriters Finance, Inc. (Subsidiary Issuer)			RenaissanceRe Finance, Inc. (Subsidiary Issuer)			Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)			Consolidating Adjustments (2)			RenaissanceRe Consolidated
Revenues
Net premiums earned	$	—		$	—		$	—		$	—		$	353,606		$	—		$	353,606
Net investment income	6,858			509			1,433			140			25,806			(5,883		)	28,863
Net foreign exchange losses	(1		)	—			—			—			(1,691		)	—			(1,692		)
Equity in earnings of other ventures	—			—			—			—			1,611			—			1,611
Other income	—			—			—			—			4,079			—			4,079
Net realized and unrealized gains on investments	4,488			1,115			1,964			—			54,086			—			61,653
Total revenues	11,345			1,624			3,397			140			437,497			(5,883		)	448,120
Expenses
Net claims and claim expenses incurred	—			—			—			—			126,605			—			126,605
Acquisition expenses	—			—			—			—			65,592			—			65,592
Operational expenses	(701		)	(141		)	52			7,009			55,096			(5,080		)	56,235
Corporate expenses	5,613			—			—			—			2,612			—			8,225
Interest expense	140			—			1,476			6,543			2,519			(140		)	10,538
Total expenses	5,052			(141		)	1,528			13,552			252,424			(5,220		)	267,195
Income (loss) before equity in net income (loss) of subsidiaries and taxes	6,293			1,765			1,869			(13,412		)	185,073			(663		)	180,925
Equity in net income (loss) of subsidiaries	123,538			(133		)	22,335			24,479			—			(170,219		)	—
Income before taxes	129,831			1,632			24,204			11,067			185,073			(170,882		)	180,925
Income tax benefit (expense)	3,759			(561		)	(344		)	2,879			(8,477		)	—			(2,744		)
Net income	133,590			1,071			23,860			13,946			176,596			(170,882		)	178,181
Net income attributable to redeemable noncontrolling interests	—			—			—			—			(44,591		)	—			(44,591		)
Net income attributable to RenaissanceRe	133,590			1,071			23,860			13,946			132,005			(170,882		)	133,590
Dividends on preference shares	(5,595		)	—			—			—			—			—			(5,595		)
Net income attributable to RenaissanceRe common shareholders	$	127,995		$	1,071		$	23,860		$	13,946		$	132,005		$	(170,882	)	$	127,995


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.


(2)	Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.

Condensed Consolidating Statement of Comprehensive Income (Loss)



Condensed Consolidating Statement of Comprehensive Income (Loss) for the three months ended March 31, 2015	RenaissanceRe Holdings Ltd. (Parent Guarantor)		RenRe North America Holdings Inc. (Subsidiary Issuer)		Platinum Underwriters Finance, Inc. (Subsidiary Issuer)		RenaissanceRe Finance, Inc. (Subsidiary Issuer)		Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)			Consolidating Adjustments (2)			RenaissanceRe Consolidated
Comprehensive income (loss)
Net income (loss)	$	173,438	$	29,553	$	183	$	43,781	$	216,922		$	(250,777	)	$	213,100
Change in net unrealized gains on investments	—		—		—		—		(74		)	—			(74		)
Comprehensive income (loss)	173,438		29,553		183		43,781		216,848			(250,777		)	213,026
Net income attributable to redeemable noncontrolling interests	—		—		—		—		(39,662		)	—			(39,662		)
Comprehensive income attributable to redeemable noncontrolling interests	—		—		—		—		(39,662		)	—			(39,662		)
Comprehensive income (loss) attributable to RenaissanceRe	$	173,438	$	29,553	$	183	$	43,781	$	177,186		$	(250,777	)	$	173,364


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.


(2)	Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments.



Condensed Consolidating Statement of Comprehensive Income for the three months ended March 31, 2016	RenaissanceRe Holdings Ltd. (Parent Guarantor)		RenRe North America Holdings Inc. (Subsidiary Issuer)		Platinum Underwriters Finance, Inc. (Subsidiary Issuer)		RenaissanceRe Finance, Inc. (Subsidiary Issuer)		Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)			Consolidating Adjustments (2)			RenaissanceRe Consolidated
Comprehensive income
Net income	$	133,590	$	1,071	$	23,860	$	13,946	$	176,596		$	(170,882	)	$	178,181
Change in net unrealized gains on investments	—		—		—		—		(443		)	—			(443		)
Comprehensive income	133,590		1,071		23,860		13,946		176,153			(170,882		)	177,738
Net income attributable to redeemable noncontrolling interests	—		—		—		—		(44,591		)	—			(44,591		)
Comprehensive income attributable to noncontrolling interests	—		—		—		—		(44,591		)	—			(44,591		)
Comprehensive income attributable to RenaissanceRe	$	133,590	$	1,071	$	23,860	$	13,946	$	131,562		$	(170,882	)	$	133,147


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.


(2)	Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments.

Condensed Consolidating Statements Of Cash Flows



Condensed Consolidating Statement of Cash Flows for the three months ended March 31, 2016	RenaissanceRe Holdings Ltd. (Parent Guarantor)			RenRe North America Holdings Inc. (Subsidiary Issuer)			Platinum Underwriters Finance, Inc. (Subsidiary Issuer)			RenaissanceRe Finance, Inc. (Subsidiary Issuer)			Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)			RenaissanceRe Consolidated
Cash flows (used in) provided by operating activities
Net cash (used in) provided by operating activities	$	(12,542	)	$	(332	)	$	4,561		$	(15,213	)	$	13,819		$	(9,707	)
Cash flows provided by (used in) investing activities
Proceeds from sales and maturities of fixed maturity investments trading	80,763			25,376			20,566			—			2,413,368			2,540,073
Purchases of fixed maturity investments trading	(195,141		)	(82,697		)	(135,561		)	—			(2,242,884		)	(2,656,283		)
Proceeds from sales and maturities of fixed maturity investments available for sale	—			—			—			—			3,662			3,662
Net sales (purchases) of equity investments trading	—			158			138,834			—			(19,623		)	119,369
Net sales (purchases) of short term investments	104,213			63,194			(33,409		)	—			11			134,009
Net purchases of other investments	—			—			—			—			(39,698		)	(39,698		)
Dividends and return of capital from subsidiaries	118,544			2,900			—			—			(121,444		)	—
Contributions to subsidiaries	(19,924		)	—			—			—			19,924			—
Due to (from) subsidiary	23,054			(14,242		)	139			20,979			(29,930		)	—
Net cash provided by (used in) investing activities	111,509			(5,311		)	(9,431		)	20,979			(16,614		)	101,132
Cash flows used in financing activities
Dividends paid – RenaissanceRe common shares	(13,285		)	—			—			—			—			(13,285		)
Dividends paid – preference shares	(5,595		)	—			—			—			—			(5,595		)
RenaissanceRe common share repurchases	(85,166		)	—			—			—			—			(85,166		)
Net third party redeemable noncontrolling interest share transactions	—			—			—			—			(50,374		)	(50,374		)
Net cash used in financing activities	(104,046		)	—			—			—			(50,374		)	(154,420		)
Effect of exchange rate changes on foreign currency cash	—			—			—			—			5,259			5,259
Net (decrease) increase in cash and cash equivalents	(5,079		)	(5,643		)	(4,870		)	5,766			(47,910		)	(57,736		)
Cash and cash equivalents, beginning of period	10,185			5,908			7,103			677			483,012			506,885
Cash and cash equivalents, end of period	$	5,106		$	265		$	2,233		$	6,443		$	435,102		$	449,149


(1)	Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.



Condensed Consolidating Statement of Cash Flows for the three months ended March 31, 2015	RenaissanceRe Holdings Ltd. (Parent Guarantor)			RenRe North America Holdings Inc. (Subsidiary Issuer)			Platinum Underwriters Finance, Inc. (Subsidiary Issuer)			RenaissanceRe Finance, Inc. (Subsidiary Issuer)			Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1)			RenaissanceRe Consolidated
Cash flows used in operating activities
Net cash used in operating activities	$	(28,333	)	$	(13,573	)	$	(295	)	$	(2,176	)	$	(74,228	)	$	(118,605	)
Cash flows provided by (used in) investing activities
Proceeds from sales and maturities of fixed maturity investments trading	—			5,007			45,029			—			2,025,642			2,075,678
Purchases of fixed maturity investments trading	—			—			—			—			(1,490,123		)	(1,490,123		)
Proceeds from sales and maturities of fixed maturity investments available for sale	—			—			—			—			1,757			1,757
Net sales of equity investments trading	—			13,763			—			—			36,864			50,627
Net sales (purchases) of short term investments	44,839			(5,848		)	(45,042		)	—			118,846			112,795
Net purchases of other investments	—			—			—			—			(7,952		)	(7,952		)
Net purchases of investments in other ventures	—			—			—			—			(126		)	(126		)
Net purchases of other assets	—			—			—			—			(2,500		)	(2,500		)
Dividends and return of capital from subsidiaries	704,691			180,000			—			—			(884,691		)	—
Contributions to subsidiaries	148,147			—			—			(180,000		)	31,853			—
Due to (from) subsidiaries	117,006			(180,053		)	—			(116,773		)	179,820			—
Net purchase of Platinum	(904,433		)	—			1,537			—			224,744			(678,152		)
Net cash provided by (used in) investing activities	110,250			12,869			1,524			(296,773		)	234,134			62,004
Cash flows (used in) provided by financing activities
Dividends paid – RenaissanceRe common shares	(13,720		)	—			—			—			—			(13,720		)
Dividends paid – preference shares	(5,595		)	—			—			—			—			(5,595		)
RenaissanceRe common share repurchases	(446		)	—			—			—			—			(446		)
Net issuance (repayment) of debt	—			—			—			299,400			(1,577		)	297,823
Net third party redeemable noncontrolling interest share transactions	—			—			—			—			(180,285		)	(180,285		)
Net cash (used in) provided by financing activities	(19,761		)	—			—			299,400			(181,862		)	97,777
Effect of exchange rate changes on foreign currency cash	—			—			—			—			(9,142		)	(9,142		)
Net increase (decrease) in cash and cash equivalents	62,156			(704		)	1,229			451			(31,098		)	32,034
Cash and cash equivalents, beginning of period	5,986			1,033			—			—			518,565			525,584
Cash and cash equivalents, end of period	$	68,142		$	329		$	1,229		$	451		$	487,467		$	557,618

(1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.