A summary of the significant components of the Company’s revenues and expenses is as follows:




Three months ended June 30, 2017	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	499,347		$	328,068		$	—		$	827,415
Net premiums written	$	336,464		$	219,281		$	—		$	555,745
Net premiums earned	$	192,198		$	190,065		$	2		$	382,265
Net claims and claim expenses incurred	33,017			109,797			(227		)	142,587
Acquisition expenses	28,500			59,752			(1		)	88,251
Operational expenses	24,053			17,712			1			41,766
Underwriting income	$	106,628		$	2,804		$	229		109,661
Net investment income							54,163			54,163
Net foreign exchange gains							3,109			3,109
Equity in earnings of other ventures							5,543			5,543
Other income							2,392			2,392
Net realized and unrealized gains on investments							58,113			58,113
Corporate expenses							(4,636		)	(4,636		)
Interest expense							(10,091		)	(10,091		)
Income before taxes and redeemable noncontrolling interests										218,254
Income tax expense							(3,904		)	(3,904		)
Net income attributable to redeemable noncontrolling interests							(37,612		)	(37,612		)
Dividends on preference shares							(5,596		)	(5,596		)
Net income available to RenaissanceRe common shareholders										$	171,142

Net claims and claim expenses incurred – current accident year	$	56,889		$	130,802		$	—		$	187,691
Net claims and claim expenses incurred – prior accident years	(23,872		)	(21,005		)	(227		)	(45,104		)
Net claims and claim expenses incurred – total	$	33,017		$	109,797		$	(227	)	$	142,587

Net claims and claim expense ratio – current accident year	29.6		%	68.8		%				49.1		%
Net claims and claim expense ratio – prior accident years	(12.4		)%	(11.0		)%				(11.8		)%
Net claims and claim expense ratio – calendar year	17.2		%	57.8		%				37.3		%
Underwriting expense ratio	27.3		%	40.7		%				34.0		%
Combined ratio	44.5		%	98.5		%				71.3		%




Six months ended June 30, 2017	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	1,019,876		$	729,629		$	—		$	1,749,505
Net premiums written	$	626,335		$	473,546		$	—		$	1,099,881
Net premiums earned	$	379,186		$	369,124		$	—		$	748,310
Net claims and claim expenses incurred	71,855			264,368			(555		)	335,668
Acquisition expenses	57,603			113,931			(1		)	171,533
Operational expenses	51,718			37,319			12			89,049
Underwriting income (loss)	$	198,010		$	(46,494	)	$	544		152,060
Net investment income							108,488			108,488
Net foreign exchange gains							11,274			11,274
Equity in earnings of other ventures							4,036			4,036
Other income							4,057			4,057
Net realized and unrealized gains on investments							101,486			101,486
Corporate expenses							(9,922		)	(9,922		)
Interest expense							(20,617		)	(20,617		)
Income before taxes and redeemable noncontrolling interests										350,862
Income tax expense							(4,238		)	(4,238		)
Net income attributable to redeemable noncontrolling interests							(71,939		)	(71,939		)
Dividends on preference shares							(11,191		)	(11,191		)
Net income available to RenaissanceRe common shareholders										$	263,494

Net claims and claim expenses incurred – current accident year	$	96,655		$	255,111		$	—		$	351,766
Net claims and claim expenses incurred – prior accident years	(24,800		)	9,257			(555		)	(16,098		)
Net claims and claim expenses incurred – total	$	71,855		$	264,368		$	(555	)	$	335,668

Net claims and claim expense ratio – current accident year	25.5		%	69.1		%				47.0		%
Net claims and claim expense ratio – prior accident years	(6.6		)%	2.5		%				(2.1		)%
Net claims and claim expense ratio – calendar year	18.9		%	71.6		%				44.9		%
Underwriting expense ratio	28.9		%	41.0		%				34.8		%
Combined ratio	47.8		%	112.6		%				79.7		%




Three months ended June 30, 2016	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	493,953		$	265,175		$	—		$	759,128
Net premiums written	$	350,593		$	169,323		$	—		$	519,916
Net premiums earned	$	191,060		$	160,342		$	—		$	351,402
Net claims and claim expenses incurred	80,275			87,390			85			167,750
Acquisition expenses	29,389			39,616			—			69,005
Operational expenses	26,526			24,526			21			51,073
Underwriting income (loss)	$	54,870		$	8,810		$	(106	)	63,574
Net investment income							54,124			54,124
Net foreign exchange losses							(690		)	(690		)
Equity in earnings of other ventures							6,022			6,022
Other income							2,654			2,654
Net realized and unrealized gains on investments							69,772			69,772
Corporate expenses							(5,752		)	(5,752		)
Interest expense							(10,536		)	(10,536		)
Income before taxes and noncontrolling interests										179,168
Income tax expense							(6,612		)	(6,612		)
Net income attributable to noncontrolling interests							(30,635		)	(30,635		)
Dividends on preference shares							(5,596		)	(5,596		)
Net income available to RenaissanceRe common shareholders										$	136,325

Net claims and claim expenses incurred – current accident year	$	93,336		$	103,669		$	—		$	197,005
Net claims and claim expenses incurred – prior accident years	(13,061		)	(16,279		)	85			(29,255		)
Net claims and claim expenses incurred – total	$	80,275		$	87,390		$	85		$	167,750

Net claims and claim expense ratio – current accident year	48.9		%	64.7		%				56.1		%
Net claims and claim expense ratio – prior accident years	(6.9		)%	(10.2		)%				(8.4		)%
Net claims and claim expense ratio – calendar year	42.0		%	54.5		%				47.7		%
Underwriting expense ratio	29.3		%	40.0		%				34.2		%
Combined ratio	71.3		%	94.5		%				81.9		%




Six months ended June 30, 2016	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	938,912		$	682,349		$	—		$	1,621,261
Net premiums written	$	583,452		$	448,139		$	—		$	1,031,591
Net premiums earned	$	366,292		$	338,716		$	—		$	705,008
Net claims and claim expenses incurred	102,079			192,273			3			294,355
Acquisition expenses	49,513			85,084			—			134,597
Operational expenses	55,183			52,044			81			107,308
Underwriting income (loss)	$	159,517		$	9,315		$	(84	)	168,748
Net investment income							82,987			82,987
Net foreign exchange losses							(2,382		)	(2,382		)
Equity in earnings of other ventures							7,633			7,633
Other income							6,733			6,733
Net realized and unrealized gains on investments							131,425			131,425
Corporate expenses							(13,977		)	(13,977		)
Interest expense							(21,074		)	(21,074		)
Income before taxes and noncontrolling interests										360,093
Income tax expense							(9,356		)	(9,356		)
Net income attributable to noncontrolling interests							(75,226		)	(75,226		)
Dividends on preference shares							(11,191		)	(11,191		)
Net income available to RenaissanceRe common shareholders										$	264,320

Net claims and claim expenses incurred – current accident year	$	121,068		$	204,146		$	—		$	325,214
Net claims and claim expenses incurred – prior accident years	(18,989		)	(11,873		)	3			(30,859		)
Net claims and claim expenses incurred – total	$	102,079		$	192,273		$	3		$	294,355

Net claims and claim expense ratio – current accident year	33.1		%	60.3		%				46.1		%
Net claims and claim expense ratio – prior accident years	(5.2		)%	(3.5		)%				(4.3		)%
Net claims and claim expense ratio – calendar year	27.9		%	56.8		%				41.8		%
Underwriting expense ratio	28.6		%	40.4		%				34.3		%
Combined ratio	56.5		%	97.2		%				76.1		%