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Schedule II. Condensed Financial Information Of Registrant
 12 Months Ended
Dec. 31, 2016
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, 2016 AND 2015
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
At December 31,
 
2016
 
2015
Assets
 
 
 
Fixed maturity investments trading, at fair value - amortized cost $22,402 at December 31, 2016 (2015 - $96,957)
$
22,119

 
$
96,441

Short term investments, at fair value
365,155

 
253,451

Cash and cash equivalents
7,067

 
10,185

Investments in subsidiaries
4,074,769

 
3,902,519

Due from subsidiaries
7,413

 
19,168

Dividends due from subsidiaries
—

 
62,114

Accrued investment income
105

 
1,253

Receivable for investments sold
136

 
26

Other assets
410,757

 
390,302

Goodwill and other intangible assets
130,407

 
137,064

Total assets
$
5,017,928

 
$
4,872,523

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

 
$
117,000

Due to subsidiaries
14,644

 
2,641

Payable for investments purchased
—

 
999

Other liabilities
19,707

 
19,699

Total liabilities
151,351

 
140,339

Shareholders’ Equity
 
 
 
Preference shares: $1.00 par value – 16,000,000 shares issued and outstanding at December 31, 2016 (2015 – 16,000,000)
400,000

 
400,000

Common shares: $1.00 par value – 41,187,413 shares issued and outstanding at December 31, 2016 (2015 – 43,701,064)
41,187

 
43,701

Additional paid-in capital
216,558

 
507,674

Accumulated other comprehensive income
1,133

 
2,108

Retained earnings
4,207,699

 
3,778,701

Total shareholders’ equity
4,866,577

 
4,732,184

Total liabilities and shareholders’ equity
$
5,017,928

 
$
4,872,523


SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2016, 2015 AND 2014
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2016
 
2015
 
2014
Revenues
 
 
 
 
 
Net investment income
$
24,178

 
$
15,391

 
$
2,706

Net foreign exchange (losses) gains
(2
)
 
4

 
(13
)
Other (loss) income
(772
)
 
663

 
—

Net realized and unrealized gains (losses) on investments
4,151

 
(2,080
)
 
83

Total revenues
27,555

 
13,978

 
2,776

Expenses
 
 
 
 
 
Interest expense
562

 
1,255

 
—

Operational expenses
13,716

 
4,249

 
(4,890
)
Corporate expenses
26,848

 
40,808

 
20,787

Total expenses
41,126

 
46,312

 
15,897

Loss before equity in net income of subsidiaries
(13,571
)
 
(32,334
)
 
(13,121
)
Equity in net income of subsidiaries
516,533

 
463,526

 
545,839

Net income
502,962

 
431,192

 
532,718

Dividends on preference shares
(22,381
)
 
(22,381
)
 
(22,381
)
Net income available to RenaissanceRe common shareholders
$
480,581

 
$
408,811

 
$
510,337


RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2016, 2015 AND 2014
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2016
 
2015
 
2014
Comprehensive income
 
 
 
 
 
Net income
$
502,962

 
$
431,192

 
$
532,718

Comprehensive income attributable to RenaissanceRe
$
502,962

 
$
431,192

 
$
532,718

SCHEDULE II
RENAISSANCERE HOLDINGS LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED
 
RENAISSANCERE HOLDINGS LTD.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2016, 2015 AND 2014
(PARENT COMPANY)
(THOUSANDS OF UNITED STATES DOLLARS)
 
 
Year ended December 31,
 
2016
 
2015
 
2014
Cash flows used in operating activities:
 
 
 
 
 
Net income
$
502,962

 
$
431,192

 
$
532,718

Less: equity in net income of subsidiaries
(516,533
)
 
(463,526
)
 
(545,839
)
 
(13,571
)
 
(32,334
)
 
(13,121
)
Adjustments to reconcile net income to net cash (used in) provided by operating activities
 
 
 
 
 
Net realized and unrealized (gains) losses on investments
(4,151
)
 
2,080

 
(83
)
Other
(730
)
 
(8,959
)
 
13,633

Net cash (used in) provided by operating activities
(18,452
)
 
(39,213
)
 
429

Cash flows provided by investing activities:
 
 
 
 
 
Proceeds from maturities and sales of fixed maturity investments trading
314,568

 
63,824

 
88,273

Purchases of fixed maturity investments trading
(336,345
)
 
(161,183
)
 
(88,341
)
Net (purchases) sales of short term investments
(111,814
)
 
(116,461
)
 
73,717

Dividends and return of capital from subsidiaries
617,239

 
1,584,624

 
1,259,224

Contributions to subsidiaries
(108,674
)
 
(294,733
)
 
(759,456
)
Due to (from) subsidiary
23,758

 
207,996

 
6,315

Net purchase of Platinum
—

 
(904,433
)
 
—

Net cash provided by investing activities
398,732

 
379,634

 
579,732

Cash flows used in financing activities:
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(51,583
)
 
(53,967
)
 
(45,912
)
Dividends paid – preference shares
(22,381
)
 
(22,381
)
 
(22,381
)
RenaissanceRe common share repurchases
(309,434
)
 
(259,874
)
 
(514,678
)
Net cash used in financing activities
(383,398
)
 
(336,222
)
 
(582,971
)
Net (decrease) increase in cash and cash equivalents
(3,118
)
 
4,199

 
(2,810
)
Cash and cash equivalents, beginning of year
10,185

 
5,986

 
8,796

Cash and cash equivalents, end of year
$
7,067

 
$
10,185

 
$
5,986