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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries | 6 Months Ended
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Jun. 30, 2017
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] |
Condensed Consolidating Financial Information Provided in Connection with Outstanding Debt of Subsidiaries | CONDENSED CONSOLIDATING FINANCIAL INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT OF SUBSIDIARIES The following tables present condensed consolidating balance sheets at June 30, 2017 and December 31, 2016, condensed consolidating statements of operations and condensed consolidating statements of comprehensive income for the three and six months ended June 30, 2017 and 2016, and condensed consolidating statements of cash flow for the six months ended June 30, 2017. Each of RenRe North America Holdings Inc., Platinum Underwriters Finance, Inc. and RenaissanceRe Finance is a 100% owned subsidiary of RenaissanceRe. For additional information related to the terms of the Company’s outstanding debt securities, see “Note 9. Debt and Credit Facilities” in the “Notes to Consolidated Financial Statements” in the Company’s Form 10-K for the year ended December 31, 2016 and “Note 7. Debt and Credit Facilities” in the “Notes to Consolidated Financial Statements” included herein.
Condensed Consolidating Balance Sheet at June 30, 2017 | 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 | $ | 140,492 |  |  | $ | 123,517 |  |  | $ | — |  |  | $ | 323,094 |  |  | $ | 8,821,805 |  |  | $ | — |  |  | $ | 9,408,908 |
Cash and cash equivalents | 2,417 |  |  | 276 |  |  | 23,986 |  |  | 8,356 |  |  | 588,115 |  |  | — |  |  | 623,150 |
Investments in subsidiaries | 4,388,394 |  |  | 36,924 |  |  | 871,117 |  |  | 1,195,266 |  |  | — |  |  | (6,491,701 | ) |  | — |
Due from subsidiaries and affiliates | 5,489 |  |  | 91,892 |  |  | — |  |  | — |  |  | — |  |  | (97,381 | ) |  | — |
Premiums receivable | — |  |  | — |  |  | — |  |  | — |  |  | 1,533,833 |  |  | — |  |  | 1,533,833 |
Prepaid reinsurance premiums | — |  |  | — |  |  | — |  |  | — |  |  | 705,322 |  |  | — |  |  | 705,322 |
Reinsurance recoverable | — |  |  | — |  |  | — |  |  | — |  |  | 370,586 |  |  | — |  |  | 370,586 |
Accrued investment income | 291 |  |  | 288 |  |  | — |  |  | 921 |  |  | 38,618 |  |  | — |  |  | 40,118 |
Deferred acquisition costs | — |  |  | — |  |  | — |  |  | — |  |  | 430,106 |  |  | — |  |  | 430,106 |
Receivable for investments sold | 52 |  |  | 5 |  |  | — |  |  | — |  |  | 170,354 |  |  | — |  |  | 170,411 |
Other assets | 423,601 |  |  | 37,547 |  |  | (29 | ) |  | 130,139 |  |  | 115,352 |  |  | (529,794 | ) |  | 176,816 |
Goodwill and other intangible assets | 127,532 |  |  | — |  |  | — |  |  | — |  |  | 118,898 |  |  | — |  |  | 246,430 |
Total assets | $ | 5,088,268 |  |  | $ | 290,449 |  |  | $ | 895,074 |  |  | $ | 1,657,776 |  |  | $ | 12,892,989 |  |  | $ | (7,118,876 | ) |  | $ | 13,705,680 |
Liabilities, Noncontrolling Interests and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve for claims and claim expenses | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,989,806 |  |  | $ | — |  |  | $ | 2,989,806 |
Unearned premiums | — |  |  | — |  |  | — |  |  | — |  |  | 1,847,206 |  |  | — |  |  | 1,847,206 |
Debt | 117,000 |  |  | — |  |  | — |  |  | 841,290 |  |  | 147,576 |  |  | (117,000 | ) |  | 988,866 |
Amounts due to subsidiaries and affiliates | 243 |  |  | 51 |  |  | 82 |  |  | 97,339 |  |  | — |  |  | (97,715 | ) |  | — |
Reinsurance balances payable | — |  |  | — |  |  | — |  |  | — |  |  | 1,052,494 |  |  | — |  |  | 1,052,494 |
Payable for investments purchased | — |  |  | 24 |  |  | — |  |  | — |  |  | 407,288 |  |  | — |  |  | 407,312 |
Other liabilities | 15,770 |  |  | 780 |  |  | (2,757 | ) |  | 9,887 |  |  | 206,139 |  |  | (7,161 | ) |  | 222,658 |
Total liabilities | 133,013 |  |  | 855 |  |  | (2,675 | ) |  | 948,516 |  |  | 6,650,509 |  |  | (221,876 | ) |  | 7,508,342 |
Redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | 1,242,083 |  |  | — |  |  | 1,242,083 |
Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Total shareholders’ equity | 4,955,255 |  |  | 289,594 |  |  | 897,749 |  |  | 709,260 |  |  | 5,000,397 |  |  | (6,897,000 | ) |  | 4,955,255 |
Total liabilities, noncontrolling interests and shareholders’ equity | $ | 5,088,268 |  |  | $ | 290,449 |  |  | $ | 895,074 |  |  | $ | 1,657,776 |  |  | $ | 12,892,989 |  |  | $ | (7,118,876 | ) |  | $ | 13,705,680 |
(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, 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 | $ | 387,274 |  |  | $ | 119,163 |  |  | $ | 267,556 |  |  | $ | 45,027 |  |  | $ | 8,497,948 |  |  | $ | — |  |  | $ | 9,316,968 |
Cash and cash equivalents | 7,067 |  |  | 162 |  |  | 6,671 |  |  | 9,397 |  |  | 397,860 |  |  | — |  |  | 421,157 |
Investments in subsidiaries | 4,074,769 |  |  | 34,761 |  |  | 843,089 |  |  | 1,165,413 |  |  | — |  |  | (6,118,032 | ) |  | — |
Due from subsidiaries and affiliates | 7,413 |  |  | 91,892 |  |  | — |  |  | — |  |  | — |  |  | (99,305 | ) |  | — |
Premiums receivable | — |  |  | — |  |  | — |  |  | — |  |  | 987,323 |  |  | — |  |  | 987,323 |
Prepaid reinsurance premiums | — |  |  | — |  |  | — |  |  | — |  |  | 441,260 |  |  | — |  |  | 441,260 |
Reinsurance recoverable | — |  |  | — |  |  | — |  |  | — |  |  | 279,564 |  |  | — |  |  | 279,564 |
Accrued investment income | 105 |  |  | 289 |  |  | 551 |  |  | 106 |  |  | 37,025 |  |  | — |  |  | 38,076 |
Deferred acquisition costs | — |  |  | — |  |  | — |  |  | — |  |  | 335,325 |  |  | — |  |  | 335,325 |
Receivable for investments sold | 136 |  |  | 2 |  |  | 99 |  |  | 45 |  |  | 105,559 |  |  | — |  |  | 105,841 |
Other assets | 410,757 |  |  | 37,204 |  |  | 4,689 |  |  | 127,572 |  |  | 118,098 |  |  | (522,938 | ) |  | 175,382 |
Goodwill and other intangible assets | 130,407 |  |  | — |  |  | — |  |  | — |  |  | 120,779 |  |  | — |  |  | 251,186 |
Total assets | $ | 5,017,928 |  |  | $ | 283,473 |  |  | $ | 1,122,655 |  |  | $ | 1,347,560 |  |  | $ | 11,320,741 |  |  | $ | (6,740,275 | ) |  | $ | 12,352,082 |
Liabilities, Redeemable Noncontrolling Interest and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve for claims and claim expenses | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,848,294 |  |  | $ | — |  |  | $ | 2,848,294 |
Unearned premiums | — |  |  | — |  |  | — |  |  | — |  |  | 1,231,573 |  |  | — |  |  | 1,231,573 |
Debt | 117,000 |  |  | — |  |  | 255,352 |  |  | 545,889 |  |  | 147,422 |  |  | (117,000 | ) |  | 948,663 |
Amounts due to subsidiaries and affiliates | 14,644 |  |  | 42 |  |  | 123 |  |  | 96,061 |  |  | — |  |  | (110,870 | ) |  | — |
Reinsurance balances payable | — |  |  | — |  |  | — |  |  | — |  |  | 673,983 |  |  | — |  |  | 673,983 |
Payable for investments purchased | — |  |  | — |  |  | — |  |  | — |  |  | 305,714 |  |  | — |  |  | 305,714 |
Other liabilities | 19,707 |  |  | 10,544 |  |  | — |  |  | 13,350 |  |  | 270,610 |  |  | (12,527 | ) |  | 301,684 |
Total liabilities | 151,351 |  |  | 10,586 |  |  | 255,475 |  |  | 655,300 |  |  | 5,477,596 |  |  | (240,397 | ) |  | 6,309,911 |
Redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | 1,175,594 |  |  | — |  |  | 1,175,594 |
Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Total shareholders’ equity | 4,866,577 |  |  | 272,887 |  |  | 867,180 |  |  | 692,260 |  |  | 4,667,551 |  |  | (6,499,878 | ) |  | 4,866,577 |
Total liabilities, redeemable noncontrolling interest and shareholders’ equity | $ | 5,017,928 |  |  | $ | 283,473 |  |  | $ | 1,122,655 |  |  | $ | 1,347,560 |  |  | $ | 11,320,741 |  |  | $ | (6,740,275 | ) |  | $ | 12,352,082 |
(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 June 30, 2017 | 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 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 382,265 |  |  | $ | — |  |  | $ | 382,265 |
Net investment income | 5,284 |  |  | 466 |  |  | 535 |  |  | 239 |  |  | 53,891 |  |  | (6,252 | ) |  | 54,163 |
Net foreign exchange (losses) gains | (1 | ) |  | — |  |  | — |  |  | — |  |  | 3,110 |  |  | — |  |  | 3,109 |
Equity in earnings of other ventures | — |  |  | — |  |  | — |  |  | 302 |  |  | 5,241 |  |  | — |  |  | 5,543 |
Other income | — |  |  | — |  |  | — |  |  | — |  |  | 2,392 |  |  | — |  |  | 2,392 |
Net realized and unrealized (losses) gains on investments | (8 | ) |  | 1,421 |  |  | 191 |  |  | (242 | ) |  | 56,751 |  |  | — |  |  | 58,113 |
Total revenues | 5,275 |  |  | 1,887 |  |  | 726 |  |  | 299 |  |  | 503,650 |  |  | (6,252 | ) |  | 505,585 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Net claims and claim expenses incurred | — |  |  | — |  |  | — |  |  | — |  |  | 142,587 |  |  | — |  |  | 142,587 |
Acquisition expenses | — |  |  | — |  |  | — |  |  | — |  |  | 88,251 |  |  | — |  |  | 88,251 |
Operational expenses | 3,190 |  |  | 16 |  |  | 35 |  |  | 6,647 |  |  | 36,402 |  |  | (4,524 | ) |  | 41,766 |
Corporate expenses | 4,798 |  |  | — |  |  | — |  |  | — |  |  | (162 | ) |  | — |  |  | 4,636 |
Interest expense | 141 |  |  | — |  |  | 985 |  |  | 6,601 |  |  | 2,505 |  |  | (141 | ) |  | 10,091 |
Total expenses | 8,129 |  |  | 16 |  |  | 1,020 |  |  | 13,248 |  |  | 269,583 |  |  | (4,665 | ) |  | 287,331 |
(Loss) income before equity in net income of subsidiaries and taxes | (2,854 | ) |  | 1,871 |  |  | (294 | ) |  | (12,949 | ) |  | 234,067 |  |  | (1,587 | ) |  | 218,254 |
Equity in net income of subsidiaries | 178,746 |  |  | 1,220 |  |  | 18,185 |  |  | 20,438 |  |  | — |  |  | (218,589 | ) |  | — |
Income before taxes | 175,892 |  |  | 3,091 |  |  | 17,891 |  |  | 7,489 |  |  | 234,067 |  |  | (220,176 | ) |  | 218,254 |
Income tax benefit (expense) | 846 |  |  | (584 | ) |  | 104 |  |  | 2,902 |  |  | (7,172 | ) |  | — |  |  | (3,904 | )
Net income | 176,738 |  |  | 2,507 |  |  | 17,995 |  |  | 10,391 |  |  | 226,895 |  |  | (220,176 | ) |  | 214,350 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (37,612 | ) |  | — |  |  | (37,612 | )
Net income attributable to RenaissanceRe | 176,738 |  |  | 2,507 |  |  | 17,995 |  |  | 10,391 |  |  | 189,283 |  |  | (220,176 | ) |  | 176,738 |
Dividends on preference shares | (5,596 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5,596 | )
Net income available attributable to RenaissanceRe common shareholders | $ | 171,142 |  |  | $ | 2,507 |  |  | $ | 17,995 |  |  | $ | 10,391 |  |  | $ | 189,283 |  |  | $ | (220,176 | ) |  | $ | 171,142 |
(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 June 30, 2017 | 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 | $ | 176,738 |  |  | $ | 2,507 |  |  | $ | 17,995 |  |  | $ | 10,391 |  |  | $ | 226,895 |  |  | $ | (220,176 | ) |  | $ | 214,350 |
Change in net unrealized gains on investments | — |  |  | — |  |  | — |  |  | — |  |  | 219 |  |  | — |  |  | 219 |
Comprehensive income | 176,738 |  |  | 2,507 |  |  | 17,995 |  |  | 10,391 |  |  | 227,114 |  |  | (220,176 | ) |  | 214,569 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (37,612 | ) |  | — |  |  | (37,612 | )
Comprehensive income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (37,612 | ) |  | — |  |  | (37,612 | )
Comprehensive income available to RenaissanceRe | $ | 176,738 |  |  | $ | 2,507 |  |  | $ | 17,995 |  |  | $ | 10,391 |  |  | $ | 189,502 |  |  | $ | (220,176 | ) |  | $ | 176,957 |
(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 six months ended June 30, 2017 | 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 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 748,310 |  |  | $ | — |  |  | $ | 748,310 |
Net investment income | 10,741 |  |  | 892 |  |  | 1,376 |  |  | 508 |  |  | 107,474 |  |  | (12,503 | ) |  | 108,488 |
Net foreign exchange (losses) gains | (1 | ) |  | — |  |  | — |  |  | — |  |  | 11,275 |  |  | — |  |  | 11,274 |
Equity in (losses) earnings of other ventures | — |  |  | — |  |  | — |  |  | (450 | ) |  | 4,486 |  |  | — |  |  | 4,036 |
Other (loss) income | (1 | ) |  | — |  |  | — |  |  | — |  |  | 4,058 |  |  | — |  |  | 4,057 |
Net realized and unrealized gains (losses) on investments | 45 |  |  | 4,342 |  |  | 4,916 |  |  | (268 | ) |  | 92,451 |  |  | — |  |  | 101,486 |
Total revenues | 10,784 |  |  | 5,234 |  |  | 6,292 |  |  | (210 | ) |  | 968,054 |  |  | (12,503 | ) |  | 977,651 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Net claims and claim expenses incurred | — |  |  | — |  |  | — |  |  | — |  |  | 335,668 |  |  | — |  |  | 335,668 |
Acquisition expenses | — |  |  | — |  |  | — |  |  | — |  |  | 171,533 |  |  | — |  |  | 171,533 |
Operational expenses | 6,488 |  |  | 40 |  |  | 85 |  |  | 14,626 |  |  | 78,460 |  |  | (10,650 | ) |  | 89,049 |
Corporate expenses | 10,006 |  |  | — |  |  | — |  |  | — |  |  | (84 | ) |  | — |  |  | 9,922 |
Interest expense | 281 |  |  | — |  |  | 2,461 |  |  | 13,143 |  |  | 5,013 |  |  | (281 | ) |  | 20,617 |
Total expenses | 16,775 |  |  | 40 |  |  | 2,546 |  |  | 27,769 |  |  | 590,590 |  |  | (10,931 | ) |  | 626,789 |
(Loss) income before equity in net income of subsidiaries and taxes | (5,991 | ) |  | 5,194 |  |  | 3,746 |  |  | (27,979 | ) |  | 377,464 |  |  | (1,572 | ) |  | 350,862 |
Equity in net income of subsidiaries | 280,099 |  |  | 2,306 |  |  | 28,028 |  |  | 36,936 |  |  | — |  |  | (347,369 | ) |  | — |
Income before taxes | 274,108 |  |  | 7,500 |  |  | 31,774 |  |  | 8,957 |  |  | 377,464 |  |  | (348,941 | ) |  | 350,862 |
Income tax benefit (expense) | 577 |  |  | (1,682 | ) |  | (1,204 | ) |  | 5,974 |  |  | (7,903 | ) |  | — |  |  | (4,238 | )
Net income | 274,685 |  |  | 5,818 |  |  | 30,570 |  |  | 14,931 |  |  | 369,561 |  |  | (348,941 | ) |  | 346,624 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (71,939 | ) |  | — |  |  | (71,939 | )
Net income attributable to RenaissanceRe | 274,685 |  |  | 5,818 |  |  | 30,570 |  |  | 14,931 |  |  | 297,622 |  |  | (348,941 | ) |  | 274,685 |
Dividends on preference shares | (11,191 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (11,191 | )
Net income available to RenaissanceRe common shareholders | $ | 263,494 |  |  | $ | 5,818 |  |  | $ | 30,570 |  |  | $ | 14,931 |  |  | $ | 297,622 |  |  | $ | (348,941 | ) |  | $ | 263,494 |
(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 for the six months ended June 30, 2017 | 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 | $ | 274,685 |  |  | $ | 5,818 |  |  | $ | 30,570 |  |  | $ | 14,931 |  |  | $ | 369,561 |  |  | $ | (348,941 | ) |  | $ | 346,624 |
Change in net unrealized gains on investments | — |  |  | — |  |  | — |  |  | — |  |  | (1,272 | ) |  | — |  |  | (1,272 | )
Comprehensive income | 274,685 |  |  | 5,818 |  |  | 30,570 |  |  | 14,931 |  |  | 368,289 |  |  | (348,941 | ) |  | 345,352 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (71,939 | ) |  | — |  |  | (71,939 | )
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (71,939 | ) |  | — |  |  | (71,939 | )
Comprehensive income available to RenaissanceRe | $ | 274,685 |  |  | $ | 5,818 |  |  | $ | 30,570 |  |  | $ | 14,931 |  |  | $ | 296,350 |  |  | $ | (348,941 | ) |  | $ | 273,413 |
(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 Operations for the three months ended June 30, 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 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 351,402 |  |  | $ | — |  |  | $ | 351,402 |
Net investment income | 5,749 |  |  | 445 |  |  | 846 |  |  | 141 |  |  | 52,826 |  |  | (5,883 | ) |  | 54,124 |
Net foreign exchange losses | (1 | ) |  | — |  |  | — |  |  | — |  |  | (689 | ) |  | — |  |  | (690 | )
Equity in earnings of other ventures | — |  |  | — |  |  | — |  |  | — |  |  | 6,022 |  |  | — |  |  | 6,022 |
Other (loss) income | (791 | ) |  | — |  |  | — |  |  | — |  |  | 3,445 |  |  | — |  |  | 2,654 |
Net realized and unrealized gains on investments | 799 |  |  | 1,139 |  |  | 3,414 |  |  | — |  |  | 64,420 |  |  | — |  |  | 69,772 |
Total revenues | 5,756 |  |  | 1,584 |  |  | 4,260 |  |  | 141 |  |  | 477,426 |  |  | (5,883 | ) |  | 483,284 |
Expenses |  |  |  |  | — |  |  | — |  |  |  |  |  |  |
Net claims and claim expenses incurred | — |  |  | — |  |  | — |  |  | — |  |  | 167,750 |  |  | — |  |  | 167,750 |
Acquisition expenses | — |  |  | — |  |  | — |  |  | — |  |  | 69,005 |  |  | — |  |  | 69,005 |
Operational expenses | (1,104 | ) |  | 44 |  |  | 64 |  |  | 4,573 |  |  | 50,352 |  |  | (2,856 | ) |  | 51,073 |
Corporate expenses | 5,181 |  |  | 203 |  |  | — |  |  | 7 |  |  | 361 |  |  | — |  |  | 5,752 |
Interest expense | 141 |  |  | — |  |  | 1,477 |  |  | 6,544 |  |  | 2,515 |  |  | (141 | ) |  | 10,536 |
Total expenses | 4,218 |  |  | 247 |  |  | 1,541 |  |  | 11,124 |  |  | 289,983 |  |  | (2,997 | ) |  | 304,116 |
Income (loss) before equity in net income of subsidiaries and taxes | 1,538 |  |  | 1,337 |  |  | 2,719 |  |  | (10,983 | ) |  | 187,443 |  |  | (2,886 | ) |  | 179,168 |
Equity in net income of subsidiaries | 141,677 |  |  | 1,666 |  |  | 12,086 |  |  | 17,165 |  |  | — |  |  | (172,594 | ) |  | — |
Income before taxes | 143,215 |  |  | 3,003 |  |  | 14,805 |  |  | 6,182 |  |  | 187,443 |  |  | (175,480 | ) |  | 179,168 |
Income tax (expense) benefit | (1,294 | ) |  | (906 | ) |  | (838 | ) |  | 2,792 |  |  | (6,366 | ) |  | — |  |  | (6,612 | )
Net income | 141,921 |  |  | 2,097 |  |  | 13,967 |  |  | 8,974 |  |  | 181,077 |  |  | (175,480 | ) |  | 172,556 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (30,635 | ) |  | — |  |  | (30,635 | )
Net income attributable to RenaissanceRe | 141,921 |  |  | 2,097 |  |  | 13,967 |  |  | 8,974 |  |  | 150,442 |  |  | (175,480 | ) |  | 141,921 |
Dividends on preference shares | (5,596 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5,596 | )
Net income available to RenaissanceRe common shareholders | $ | 136,325 |  |  | $ | 2,097 |  |  | $ | 13,967 |  |  | $ | 8,974 |  |  | $ | 150,442 |  |  | $ | (175,480 | ) |  | $ | 136,325 |
(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 June 30, 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 | $ | 141,921 |  |  | $ | 2,097 |  |  | $ | 13,967 |  |  | $ | 8,974 |  |  | $ | 181,077 |  |  | $ | (175,480 | ) |  | $ | 172,556 |
Change in net unrealized gains on investments | — |  |  | — |  |  | — |  |  | — |  |  | 672 |  |  | — |  |  | 672 |
Comprehensive income | 141,921 |  |  | 2,097 |  |  | 13,967 |  |  | 8,974 |  |  | 181,749 |  |  | (175,480 | ) |  | 173,228 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (30,635 | ) |  | — |  |  | (30,635 | )
Comprehensive income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (30,635 | ) |  | — |  |  | (30,635 | )
Comprehensive income attributable to RenaissanceRe | $ | 141,921 |  |  | $ | 2,097 |  |  | $ | 13,967 |  |  | $ | 8,974 |  |  | $ | 151,114 |  |  | $ | (175,480 | ) |  | $ | 142,593 |
(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 six months ended June 30, 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 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 705,008 |  |  | $ | — |  |  | $ | 705,008 |
Net investment income | 12,607 |  |  | 954 |  |  | 2,279 |  |  | 281 |  |  | 78,632 |  |  | (11,766 | ) |  | 82,987 |
Net foreign exchange losses | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2,380 | ) |  | — |  |  | (2,382 | )
Equity in earnings of other ventures | — |  |  | — |  |  | — |  |  | — |  |  | 7,633 |  |  | — |  |  | 7,633 |
Other (loss) income | (791 | ) |  | — |  |  | — |  |  | — |  |  | 7,524 |  |  | — |  |  | 6,733 |
Net realized and unrealized gains on investments | 5,287 |  |  | 2,254 |  |  | 5,378 |  |  | — |  |  | 118,506 |  |  | — |  |  | 131,425 |
Total revenues | 17,101 |  |  | 3,208 |  |  | 7,657 |  |  | 281 |  |  | 914,923 |  |  | (11,766 | ) |  | 931,404 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Net claims and claim expenses incurred | — |  |  | — |  |  | — |  |  | — |  |  | 294,355 |  |  | — |  |  | 294,355 |
Acquisition expenses | — |  |  | — |  |  | — |  |  | — |  |  | 134,597 |  |  | — |  |  | 134,597 |
Operational expenses | (1,805 | ) |  | (97 | ) |  | 116 |  |  | 11,582 |  |  | 105,448 |  |  | (7,936 | ) |  | 107,308 |
Corporate expenses | 10,794 |  |  | 203 |  |  | — |  |  | 7 |  |  | 2,973 |  |  | — |  |  | 13,977 |
Interest expense | 281 |  |  | — |  |  | 2,953 |  |  | 13,087 |  |  | 5,034 |  |  | (281 | ) |  | 21,074 |
Total expenses | 9,270 |  |  | 106 |  |  | 3,069 |  |  | 24,676 |  |  | 542,407 |  |  | (8,217 | ) |  | 571,311 |
Income (loss) before equity in net income of subsidiaries and taxes | 7,831 |  |  | 3,102 |  |  | 4,588 |  |  | (24,395 | ) |  | 372,516 |  |  | (3,549 | ) |  | 360,093 |
Equity in net income of subsidiaries | 265,215 |  |  | 1,533 |  |  | 34,421 |  |  | 41,644 |  |  | — |  |  | (342,813 | ) |  | — |
Income before taxes | 273,046 |  |  | 4,635 |  |  | 39,009 |  |  | 17,249 |  |  | 372,516 |  |  | (346,362 | ) |  | 360,093 |
Income tax benefit (expense) | 2,465 |  |  | (1,467 | ) |  | (1,182 | ) |  | 5,671 |  |  | (14,843 | ) |  | — |  |  | (9,356 | )
Net income | 275,511 |  |  | 3,168 |  |  | 37,827 |  |  | 22,920 |  |  | 357,673 |  |  | (346,362 | ) |  | 350,737 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (75,226 | ) |  | — |  |  | (75,226 | )
Net income attributable to RenaissanceRe | 275,511 |  |  | 3,168 |  |  | 37,827 |  |  | 22,920 |  |  | 282,447 |  |  | (346,362 | ) |  | 275,511 |
Dividends on preference shares | (11,191 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (11,191 | )
Net income available to RenaissanceRe common shareholders | $ | 264,320 |  |  | $ | 3,168 |  |  | $ | 37,827 |  |  | $ | 22,920 |  |  | $ | 282,447 |  |  | $ | (346,362 | ) |  | $ | 264,320 |
(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 six months ended June 20, 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 | $ | 275,511 |  |  | $ | 3,168 |  |  | $ | 37,827 |  |  | $ | 22,920 |  |  | $ | 357,673 |  |  | $ | (346,362 | ) |  | $ | 350,737 |
Change in net unrealized gains on investments | — |  |  | — |  |  | — |  |  | — |  |  | 229 |  |  | — |  |  | 229 |
Comprehensive income | 275,511 |  |  | 3,168 |  |  | 37,827 |  |  | 22,920 |  |  | 357,902 |  |  | (346,362 | ) |  | 350,966 |
Net income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (75,226 | ) |  | — |  |  | (75,226 | )
Comprehensive income attributable to redeemable noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | (75,226 | ) |  | — |  |  | (75,226 | )
Comprehensive income available to RenaissanceRe | $ | 275,511 |  |  | $ | 3,168 |  |  | $ | 37,827 |  |  | $ | 22,920 |  |  | $ | 282,676 |  |  | $ | (346,362 | ) |  | $ | 275,740 |
(1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
(2) | Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments.
Condensed Consolidating Statement of Cash Flows for the six months ended June 30, 2017 | 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 | $ | (11,924 | ) |  | $ | (8,931 | ) |  | $ | (5,017 | ) |  | $ | (27,713 | ) |  | $ | 394,608 |  |  | $ | 341,023 |
Cash flows provided by (used in) investing activities |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales and maturities of fixed maturity investments trading | 53,654 |  |  | 46,475 |  |  | 289,741 |  |  | 15,449 |  |  | 4,758,653 |  |  | 5,163,972 |
Purchases of fixed maturity investments trading | (105,523 | ) |  | (45,174 | ) |  | (143,991 | ) |  | (265,787 | ) |  | (4,890,887 | ) |  | (5,451,362 | )
Net (purchases) sales of equity investments trading | — |  |  | (89 | ) |  | 85,324 |  |  | — |  |  | (38,930 | ) |  | 46,305 |
Net sales (purchases) of short term investments | 298,768 |  |  | (1,351 | ) |  | 41,299 |  |  | (28,934 | ) |  | (33,707 | ) |  | 276,075 |
Net sales of other investments | — |  |  | — |  |  | — |  |  | — |  |  | 2,551 |  |  | 2,551 |
Dividends and return of capital from subsidiaries | 167,111 |  |  | 9,175 |  |  | — |  |  | 17,975 |  |  | (194,261 | ) |  | — |
Contributions to subsidiaries | (200,000 | ) |  | — |  |  | — |  |  | (9,175 | ) |  | 209,175 |  |  | — |
Due (from) to subsidiary | (12,477 | ) |  | 9 |  |  | (41 | ) |  | 1,278 |  |  | 11,231 |  |  | — |
Net cash provided by (used in) investing activities | 201,533 |  |  | 9,045 |  |  | 272,332 |  |  | (269,194 | ) |  | (176,175 | ) |  | 37,541 |
Cash flows (used in) provided by financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid – RenaissanceRe common shares | (25,877 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (25,877 | )
Dividends paid – preference shares | (11,191 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (11,191 | )
RenaissanceRe common share repurchases | (145,940 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (145,940 | )
Issuance of debt, net of expenses | — |  |  | — |  |  | — |  |  | 295,866 |  |  | — |  |  | 295,866 |
Repayment of debt | — |  |  | — |  |  | (250,000 | ) |  | — |  |  | — |  |  | (250,000 | )
Net third party redeemable noncontrolling interest share transactions | — |  |  | — |  |  | — |  |  | — |  |  | (33,655 | ) |  | (33,655 | )
Taxes paid on withholding shares | (11,251 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (11,251 | )
Net cash (used in) provided by financing activities | (194,259 | ) |  | — |  |  | (250,000 | ) |  | 295,866 |  |  | (33,655 | ) |  | (182,048 | )
Effect of exchange rate changes on foreign currency cash | — |  |  | — |  |  | — |  |  | — |  |  | 5,477 |  |  | 5,477 |
Net (decrease) increase in cash and cash equivalents | (4,650 | ) |  | 114 |  |  | 17,315 |  |  | (1,041 | ) |  | 190,255 |  |  | 201,993 |
Cash and cash equivalents, beginning of period | 7,067 |  |  | 162 |  |  | 6,671 |  |  | 9,397 |  |  | 397,860 |  |  | 421,157 |
Cash and cash equivalents, end of period | $ | 2,417 |  |  | $ | 276 |  |  | $ | 23,986 |  |  | $ | 8,356 |  |  | $ | 588,115 |  |  | $ | 623,150 |
(1) | Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
Condensed Consolidating Statement of Cash Flows for the six months ended June 30, 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 provided by (used in)operating activities |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | (11,131 | ) |  | $ | 297 |  |  | $ | (3,914 | ) |  | $ | (24,197 | ) |  | $ | 164,186 |  |  | $ | 125,241 |
Cash flows provided by (used in) investing activities |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales and maturities of fixed maturity investments trading | 210,933 |  |  | 50,890 |  |  | 67,839 |  |  | — |  |  | 4,450,744 |  |  | 4,780,406 |
Purchases of fixed maturity investments trading | (324,462 | ) |  | (105,772 | ) |  | (203,883 | ) |  | — |  |  | (4,350,703 | ) |  | (4,984,820 | )
Proceeds from sales and maturities of fixed maturity investments available for sale | — |  |  | — |  |  | — |  |  | — |  |  | 5,216 |  |  | 5,216 |
Net (purchases) sales of equity investments trading | — |  |  | (2,195 | ) |  | 193,207 |  |  | — |  |  | (9,378 | ) |  | 181,634 |
Net sales (purchases) of short term investments | 195,915 |  |  | 62,403 |  |  | (58,367 | ) |  | — |  |  | 45,948 |  |  | 245,899 |
Net purchases of other investments | — |  |  | — |  |  | — |  |  | — |  |  | (52,778 | ) |  | (52,778 | )
Dividends and return of capital from subsidiaries | 341,011 |  |  | 2,900 |  |  | — |  |  | — |  |  | (343,911 | ) |  | — |
Contributions to subsidiaries | (95,001 | ) |  | — |  |  | — |  |  | — |  |  | 95,001 |  |  | — |
Due to (from) subsidiaries | (22,676 | ) |  | (14,396 | ) |  | (92 | ) |  | 24,134 |  |  | 13,030 |  |  | — |
Net cash provided by (used in) investing activities | 305,720 |  |  | (6,170 | ) |  | (1,296 | ) |  | 24,134 |  |  | (146,831 | ) |  | 175,557 |
Cash flows used in financing activities |  |  |  |  |  |  |  |  |  |  |
Dividends paid – RenaissanceRe common shares | (26,198 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (26,198 | )
Dividends paid – preference shares | (11,191 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (11,191 | )
RenaissanceRe common share repurchases | (265,003 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (265,003 | )
Net third party redeemable noncontrolling interest share transactions | — |  |  | — |  |  | — |  |  | — |  |  | (43,909 | ) |  | (43,909 | )
Taxes paid on withholding shares | — |  |  | — |  |  | — |  |  | — |  |  | (8,069 | ) |  | (8,069 | )
Net cash used in financing activities | (302,392 | ) |  | — |  |  | — |  |  | — |  |  | (51,978 | ) |  | (354,370 | )
Effect of exchange rate changes on foreign currency cash | — |  |  | — |  |  | — |  |  | — |  |  | 2,208 |  |  | 2,208 |
Net decrease in cash and cash equivalents | (7,803 | ) |  | (5,873 | ) |  | (5,210 | ) |  | (63 | ) |  | (32,415 | ) |  | (51,364 | )
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 | $ | 2,382 |  |  | $ | 35 |  |  | $ | 1,893 |  |  | $ | 614 |  |  | $ | 450,597 |  |  | $ | 455,521 |
(1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.

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- Definition Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161450&loc=d3e5614-111684 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01(a)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 + Details
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