Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting, Measurement Disclosures [Abstract]

Schedule of Significant Components of the Company's Revenues and Expenses by Segment

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




Three months ended June 30, 2019	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	839,200		$	637,708		$	—		$	1,476,908
Net premiums written	$	544,115		$	478,850		$	—		$	1,022,965
Net premiums earned	$	425,013		$	486,489		$	—		$	911,502
Net claims and claim expenses incurred	146,874			306,501			(2		)	453,373
Acquisition expenses	89,711			137,963			(192		)	227,482
Operational expenses	36,764			23,016			34			59,814
Underwriting income (loss)	$	151,664		$	19,009		$	160		170,833
Net investment income							115,832			115,832
Net foreign exchange gains							9,309			9,309
Equity in earnings of other ventures							6,812			6,812
Other income							922			922
Net realized and unrealized gains on investments							194,003			194,003
Corporate expenses							(23,847		)	(23,847		)
Interest expense							(15,534		)	(15,534		)
Income before taxes and redeemable noncontrolling interests										458,330
Income tax expense							(9,475		)	(9,475		)
Net income attributable to redeemable noncontrolling interests							(71,812		)	(71,812		)
Dividends on preference shares							(9,189		)	(9,189		)
Net income available to RenaissanceRe common shareholders										$	367,854

Net claims and claim expenses incurred – current accident year	$	136,111		$	317,029		$	—		$	453,140
Net claims and claim expenses incurred – prior accident years	10,763			(10,528		)	(2		)	233
Net claims and claim expenses incurred – total	$	146,874		$	306,501		$	(2	)	$	453,373

Net claims and claim expense ratio – current accident year	32.0		%	65.2		%				49.7		%
Net claims and claim expense ratio – prior accident years	2.6		%	(2.2		)%				—		%
Net claims and claim expense ratio – calendar year	34.6		%	63.0		%				49.7		%
Underwriting expense ratio	29.7		%	33.1		%				31.6		%
Combined ratio	64.3		%	96.1		%				81.3		%




Six months ended June 30, 2019	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	1,871,584		$	1,169,619		$	—		$	3,041,203
Net premiums written	$	1,108,345		$	843,651		$	—		$	1,951,996
Net premiums earned	$	715,758		$	745,772		$	—		$	1,461,530
Net claims and claim expenses incurred	202,957			477,434			17			680,408
Acquisition expenses	143,450			208,175			(192		)	351,433
Operational expenses	65,308			39,405			34			104,747
Underwriting income (loss)	$	304,043		$	20,758		$	141		324,942
Net investment income							197,294			197,294
Net foreign exchange gains							6,463			6,463
Equity in earnings of other ventures							11,473			11,473
Other income							4,093			4,093
Net realized and unrealized gains on investments							364,648			364,648
Corporate expenses							(62,636		)	(62,636		)
Interest expense							(27,288		)	(27,288		)
Income before taxes and redeemable noncontrolling interests										818,989
Income tax expense							(17,006		)	(17,006		)
Net income attributable to redeemable noncontrolling interests							(142,034		)	(142,034		)
Dividends on preference shares							(18,378		)	(18,378		)
Net income available to RenaissanceRe common shareholders										$	641,571

Net claims and claim expenses incurred – current accident year	$	190,317		$	494,164		$	—		$	684,481
Net claims and claim expenses incurred – prior accident years	12,640			(16,730		)	17			(4,073		)
Net claims and claim expenses incurred – total	$	202,957		$	477,434		$	17		$	680,408

Net claims and claim expense ratio – current accident year	26.6		%	66.3		%				46.8		%
Net claims and claim expense ratio – prior accident years	1.8		%	(2.3		)%				(0.2		)%
Net claims and claim expense ratio – calendar year	28.4		%	64.0		%				46.6		%
Underwriting expense ratio	29.1		%	33.2		%				31.2		%
Combined ratio	57.5		%	97.2		%				77.8		%




Three months ended June 30, 2018	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	552,627		$	424,716		$	—		$	977,343
Net premiums written	$	297,832		$	306,677		$	—		$	604,509
Net premiums earned	$	204,138		$	225,247		$	—		$	429,385
Net claims and claim expenses incurred	(74,269		)	134,524			(88		)	60,167
Acquisition expenses	40,850			64,201			1			105,052
Operational expenses	23,810			13,552			181			37,543
Underwriting income (loss)	$	213,747		$	12,970		$	(94	)	226,623
Net investment income							71,356			71,356
Net foreign exchange losses							(10,687		)	(10,687		)
Equity in earnings of other ventures							5,826			5,826
Other income							1,225			1,225
Net realized and unrealized losses on investments							(17,901		)	(17,901		)
Corporate expenses							(8,301		)	(8,301		)
Interest expense							(11,768		)	(11,768		)
Income before taxes and redeemable noncontrolling interests										256,373
Income tax expense							(4,506		)	(4,506		)
Net income attributable to redeemable noncontrolling interests							(54,483		)	(54,483		)
Dividends on preference shares							(5,596		)	(5,596		)
Net income available to RenaissanceRe common shareholders										$	191,788

Net claims and claim expenses incurred – current accident year	$	68,876		$	147,520		$	—		$	216,396
Net claims and claim expenses incurred – prior accident years	(143,145		)	(12,996		)	(88		)	(156,229		)
Net claims and claim expenses incurred – total	$	(74,269	)	$	134,524		$	(88	)	$	60,167

Net claims and claim expense ratio – current accident year	33.7		%	65.5		%				50.4		%
Net claims and claim expense ratio – prior accident years	(70.1		)%	(5.8		)%				(36.4		)%
Net claims and claim expense ratio – calendar year	(36.4		)%	59.7		%				14.0		%
Underwriting expense ratio	31.7		%	34.5		%				33.2		%
Combined ratio	(4.7		)%	94.2		%				47.2		%




Six months ended June 30, 2018	Property			Casualty and Specialty			Other			Total
Gross premiums written	$	1,259,595		$	877,400		$	—		$	2,136,995
Net premiums written	$	651,909		$	615,644		$	—		$	1,267,553
Net premiums earned	$	429,187		$	440,480		$	—		$	869,667
Net claims and claim expenses incurred	(43,662		)	275,602			(70		)	231,870
Acquisition expenses	81,571			121,191			1			202,763
Operational expenses	50,356			28,145			314			78,815
Underwriting income (loss)	$	340,922		$	15,542		$	(245	)	356,219
Net investment income							127,832			127,832
Net foreign exchange losses							(6,930		)	(6,930		)
Equity in earnings of other ventures							6,683			6,683
Other loss							(17		)	(17		)
Net realized and unrealized losses on investments							(100,045		)	(100,045		)
Corporate expenses							(15,034		)	(15,034		)
Interest expense							(23,535		)	(23,535		)
Income before taxes and redeemable noncontrolling interests										345,173
Income tax expense							(1,099		)	(1,099		)
Net income attributable to redeemable noncontrolling interests							(84,382		)	(84,382		)
Dividends on preference shares							(11,191		)	(11,191		)
Net income available to RenaissanceRe common shareholders										$	248,501

Net claims and claim expenses incurred – current accident year	$	127,045		$	292,389		$	—		$	419,434
Net claims and claim expenses incurred – prior accident years	(170,707		)	(16,787		)	(70		)	(187,564		)
Net claims and claim expenses incurred – total	$	(43,662	)	$	275,602		$	(70	)	$	231,870

Net claims and claim expense ratio – current accident year	29.6		%	66.4		%				48.2		%
Net claims and claim expense ratio – prior accident years	(39.8		)%	(3.8		)%				(21.5		)%
Net claims and claim expense ratio – calendar year	(10.2		)%	62.6		%				26.7		%
Underwriting expense ratio	30.8		%	33.9		%				32.3		%
Combined ratio	20.6		%	96.5		%				59.0		%