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Condensed Consolidating Financial Information Provided in Connection with Outstanding Debt of Subsidiaries
 9 Months Ended
Sep. 30, 2019
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 are provided in connection with outstanding debt of the Company’s subsidiaries and present condensed consolidating balance sheets at September 30, 2019 and December 31, 2018, condensed consolidating statements of operations and condensed consolidating statements of comprehensive income for the three and nine months ended September 30, 2019 and 2018, and condensed consolidating statements of cash flows for the nine months ended September 30, 2019 and 2018. Each of RenRe North America Holdings Inc. and RenaissanceRe Finance Inc. is a 100% owned subsidiary of RenaissanceRe and has outstanding debt securities. For additional information related to the terms of the Company’s outstanding debt securities, see “Note 8. Debt and Credit Facilities” in the “Notes to the Consolidated Financial Statements” in the Company’s Form 10-K for the year ended December 31, 2018 and “Note 8. Debt and Credit Facilities” in the “Notes to the Consolidated Financial Statements” included herein.
Condensed Consolidating Balance Sheet at September 30, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
138,084

 
$
117,077

 
$
18,987

 
$
16,673,745

 
$
—

 
$
16,947,893

Cash and cash equivalents
5,099

 
3,691

 
3,324

 
859,137

 
—

 
871,251

Investments in subsidiaries
5,579,191

 
50,786

 
1,279,042

 
—

 
(6,909,019
)
 
—

Due from subsidiaries and affiliates
8,595

 
101,579

 
—

 
—

 
(110,174
)
 
—

Premiums receivable
—

 
—

 
—

 
2,799,954

 
—

 
2,799,954

Prepaid reinsurance premiums
—

 
—

 
—

 
972,047

 
—

 
972,047

Reinsurance recoverable
—

 
—

 
—

 
2,438,299

 
—

 
2,438,299

Accrued investment income
39

 
208

 
9

 
73,253

 
—

 
73,509

Deferred acquisition costs
—

 
—

 
—

 
708,258

 
—

 
708,258

Receivable for investments sold
482

 
1

 
—

 
224,664

 
—

 
225,147

Other assets
795,636

 
13,853

 
295,885

 
(1,806,661
)
 
1,045,880

 
344,593

Goodwill and other intangible assets
117,278

 
—

 
—

 
145,981

 
—

 
263,259

Total assets
$
6,644,404

 
$
287,195

 
$
1,597,247

 
$
23,088,677

 
$
(5,973,313
)
 
$
25,644,210

Liabilities, Noncontrolling Interests and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Reserve for claims and claim expenses
$
—

 
$
—

 
$
—

 
$
8,602,437

 
$
—

 
$
8,602,437

Unearned premiums
—

 
—

 
—

 
2,967,535

 
—

 
2,967,535

Debt
691,245

 
—

 
843,981

 
148,272

 
(300,000
)
 
1,383,498

Amounts due to subsidiaries and affiliates
2,803

 
92

 
101,827

 
—

 
(104,722
)
 
—

Reinsurance balances payable
—

 
—

 
—

 
2,910,601

 
—

 
2,910,601

Payable for investments purchased
—

 
10

 
—

 
654,675

 
—

 
654,685

Other liabilities
(879
)
 
328

 
9,381

 
375,211

 
11,145

 
395,186

Total liabilities
693,169

 
430

 
955,189

 
15,658,731

 
(393,577
)
 
16,913,942

Redeemable noncontrolling interests
—

 
—

 
—

 
2,779,033

 
—

 
2,779,033

Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Total shareholders’ equity
5,951,235

 
286,765

 
642,058

 
4,650,913

 
(5,579,736
)
 
5,951,235

Total liabilities, noncontrolling interests and shareholders’ equity
$
6,644,404

 
$
287,195

 
$
1,597,247

 
$
23,088,677

 
$
(5,973,313
)
 
$
25,644,210

 
(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, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
313,360

 
$
77,842

 
$
28,885

 
$
11,465,660

 
$
—

 
$
11,885,747

Cash and cash equivalents
3,534

 
3,350

 
9,604

 
1,091,434

 
—

 
1,107,922

Investments in subsidiaries
4,414,475

 
58,458

 
1,215,663

 
—

 
(5,688,596
)
 
—

Due from subsidiaries and affiliates
57,039

 
101,579

 
—

 
—

 
(158,618
)
 
—

Premiums receivable
—

 
—

 
—

 
1,537,188

 
—

 
1,537,188

Prepaid reinsurance premiums
—

 
—

 
—

 
616,185

 
—

 
616,185

Reinsurance recoverable
—

 
—

 
—

 
2,372,221

 
—

 
2,372,221

Accrued investment income
1,046

 
310

 
127

 
49,828

 
—

 
51,311

Deferred acquisition costs
—

 
—

 
—

 
476,661

 
—

 
476,661

Receivable for investments sold
203

 
23,885

 
—

 
232,328

 
—

 
256,416

Other assets
458,842

 
22,571

 
313,636

 
(1,403,636
)
 
743,714

 
135,127

Goodwill and other intangible assets
120,476

 
—

 
—

 
116,942

 
—

 
237,418

Total assets
$
5,368,975

 
$
287,995

 
$
1,567,915

 
$
16,554,811

 
$
(5,103,500
)
 
$
18,676,196

Liabilities, Redeemable Noncontrolling Interest and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Reserve for claims and claim expenses
$
—

 
$
—

 
$
—

 
$
6,076,271

 
$
—

 
$
6,076,271

Unearned premiums
—

 
—

 
—

 
1,716,021

 
—

 
1,716,021

Debt
300,000

 
—

 
843,086

 
148,041

 
(300,000
)
 
991,127

Amounts due to subsidiaries and affiliates
6,453

 
217

 
102,243

 
—

 
(108,913
)
 
—

Reinsurance balances payable
—

 
—

 
—

 
1,902,056

 
—

 
1,902,056

Payable for investments purchased
—

 
24

 
—

 
380,308

 
—

 
380,332

Other liabilities
17,442

 
5,362

 
13,918

 
482,422

 
(5,535
)
 
513,609

Total liabilities
323,895

 
5,603

 
959,247

 
10,705,119

 
(414,448
)
 
11,579,416

Redeemable noncontrolling interests
—

 
—

 
—

 
2,051,700

 
—

 
2,051,700

Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Total shareholders’ equity
5,045,080

 
282,392

 
608,668

 
3,797,992

 
(4,689,052
)
 
5,045,080

Total liabilities, redeemable noncontrolling interest and shareholders’ equity
$
5,368,975

 
$
287,995

 
$
1,567,915

 
$
16,554,811

 
$
(5,103,500
)
 
$
18,676,196

 
(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 September 30, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
—

 
$
—

 
$
—

 
$
906,748

 
$
—

 
$
906,748

Net investment income
10,263

 
570

 
1,906

 
113,705

 
(12,600
)
 
113,844

Net foreign exchange (losses) gains
(14,786
)
 
—

 
—

 
6,511

 
—

 
(8,275
)
Equity in earnings of other ventures
—

 
—

 
1,298

 
4,579

 
—

 
5,877

Other income (loss)
1,234

 
—

 
—

 
(218
)
 
—

 
1,016

Net realized and unrealized gains on investments
1,983

 
1,147

 
20

 
28,788

 
—

 
31,938

Total revenues
(1,306
)
 
1,717

 
3,224

 
1,060,113

 
(12,600
)
 
1,051,148

Expenses
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred
—

 
—

 
—

 
654,520

 
—

 
654,520

Acquisition expenses
—

 
—

 
—

 
202,181

 
—

 
202,181

Operational expenses
2,039

 
11

 
9,018

 
34,814

 
7,533

 
53,415

Corporate expenses
6,948

 
—

 
7

 
5,010

 
1,879

 
13,844

Interest expense
5,708

 
—

 
9,257

 
615

 
—

 
15,580

Total expenses
14,695

 
11

 
18,282

 
897,140

 
9,412

 
939,540

(Loss) income before equity in net income of subsidiaries and taxes
(16,001
)
 
1,706

 
(15,058
)
 
162,973

 
(22,012
)
 
111,608

Equity in net income of subsidiaries
61,021

 
1,456

 
14,365

 
—

 
(76,842
)
 
—

Income (loss) before taxes
45,020

 
3,162

 
(693
)
 
162,973

 
(98,854
)
 
111,608

Income tax benefit (expense)
867

 
(319
)
 
1,562

 
(5,774
)
 
—

 
(3,664
)
Net income
45,887

 
2,843

 
869

 
157,199

 
(98,854
)
 
107,944

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(62,057
)
 
—

 
(62,057
)
Net income attributable to RenaissanceRe
45,887

 
2,843

 
869

 
95,142

 
(98,854
)
 
45,887

Dividends on preference shares
(9,189
)
 
—

 
—

 
—

 
—

 
(9,189
)
Net income available attributable to RenaissanceRe common shareholders
$
36,698

 
$
2,843

 
$
869

 
$
95,142

 
$
(98,854
)
 
$
36,698

 
(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 September 30, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
45,887

 
$
2,843

 
$
869

 
$
157,199

 
$
(98,854
)
 
$
107,944

Change in net unrealized gains on investments
—

 
—

 
—

 
608

 
—

 
608

Foreign currency translation adjustments, net of tax
—

 
—

 
—

 
8,249

 
—

 
8,249

Comprehensive income
45,887

 
2,843

 
869

 
166,056

 
(98,854
)
 
116,801

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(62,057
)
 
—

 
(62,057
)
Comprehensive income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(62,057
)
 
—

 
(62,057
)
Comprehensive income attributable to RenaissanceRe
$
45,887

 
$
2,843

 
$
869

 
$
103,999

 
$
(98,854
)
 
$
54,744

(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 nine months ended September 30, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
—

 
$
—

 
$
—

 
$
2,368,278

 
$
—

 
$
2,368,278

Net investment income
29,216

 
1,689

 
5,983

 
308,001

 
(33,751
)
 
311,138

Net foreign exchange (losses) gains
(20,846
)
 
—

 
—

 
19,034

 
—

 
(1,812
)
Equity in earnings of other ventures
—

 
—

 
2,915

 
14,435

 
—

 
17,350

Other income
1,234

 
—

 
—

 
3,875

 
—

 
5,109

Net realized and unrealized gains on investments
7,501

 
15,369

 
231

 
373,485

 
—

 
396,586

Total revenues
17,105

 
17,058

 
9,129

 
3,087,108

 
(33,751
)
 
3,096,649

Expenses
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred
—

 
—

 
—

 
1,334,928

 
—

 
1,334,928

Acquisition expenses
—

 
—

 
—

 
553,614

 
—

 
553,614

Operational expenses
4,643

 
38

 
29,958

 
98,613

 
24,910

 
158,162

Corporate expenses
49,618

 
—

 
16

 
21,172

 
5,674

 
76,480

Interest expense
13,284

 
—

 
27,763

 
1,821

 
—

 
42,868

Total expenses
67,545

 
38

 
57,737

 
2,010,148

 
30,584

 
2,166,052

(Loss) income before equity in net income of subsidiaries and taxes
(50,440
)
 
17,020

 
(48,608
)
 
1,076,960

 
(64,335
)
 
930,597

Equity in net income of subsidiaries
754,634

 
4,001

 
76,552

 
—

 
(835,187
)
 
—

Income before taxes
704,194

 
21,021

 
27,944

 
1,076,960

 
(899,522
)
 
930,597

Income tax benefit (expense)
1,642

 
(3,472
)
 
4,956

 
(23,796
)
 
—

 
(20,670
)
Net income
705,836

 
17,549

 
32,900

 
1,053,164

 
(899,522
)
 
909,927

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(204,091
)
 
—

 
(204,091
)
Net income attributable to RenaissanceRe
705,836

 
17,549

 
32,900

 
849,073

 
(899,522
)
 
705,836

Dividends on preference shares
(27,567
)
 
—

 
—

 
—

 
—

 
(27,567
)
Net income available to RenaissanceRe common shareholders
$
678,269

 
$
17,549

 
$
32,900

 
$
849,073

 
$
(899,522
)
 
$
678,269

 
(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 nine months ended September 30, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
705,836

 
$
17,549

 
$
32,900

 
$
1,053,164

 
$
(899,522
)
 
$
909,927

Change in net unrealized gains on investments
—

 
—

 
—

 
1,880

 
—

 
1,880

Foreign currency translation adjustments, net of tax
—

 
—

 
—

 
4,541

 
—

 
4,541

Comprehensive income
705,836

 
17,549

 
32,900

 
1,059,585

 
(899,522
)
 
916,348

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(204,091
)
 
—

 
(204,091
)
Comprehensive income attributable to noncontrolling interests
—

 
—

 
—

 
(204,091
)
 
—

 
(204,091
)
Comprehensive income attributable to RenaissanceRe
$
705,836

 
$
17,549

 
$
32,900

 
$
855,494

 
$
(899,522
)
 
$
712,257

(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 September 30, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
—

 
$
—

 
$
—

 
$
531,849

 
$
—

 
$
531,849

Net investment income
6,542

 
539

 
1,541

 
80,472

 
(8,398
)
 
80,696

Net foreign exchange gains (losses)
3

 
—

 
—

 
(4,569
)
 
—

 
(4,566
)
Equity in earnings of other ventures
—

 
—

 
290

 
7,358

 
—

 
7,648

Other income
—

 
—

 
—

 
497

 
—

 
497

Net realized and unrealized (losses) gains on investments
(176
)
 
4,479

 
(73
)
 
9,400

 
—

 
13,630

Total revenues
6,369

 
5,018

 
1,758

 
625,007

 
(8,398
)
 
629,754

Expenses
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred
—

 
—

 
—

 
410,510

 
—

 
410,510

Acquisition expenses
—

 
—

 
—

 
109,761

 
—

 
109,761

Operational expenses
3,570

 
29

 
7,493

 
42,682

 
(13,181
)
 
40,593

Corporate expenses
3,778

 
—

 
—

 
3,063

 
—

 
6,841

Interest expense
1,478

 
—

 
9,257

 
2,512

 
(1,478
)
 
11,769

Total expenses
8,826

 
29

 
16,750

 
568,528

 
(14,659
)
 
579,474

(Loss) income before equity in net income of subsidiaries and taxes
(2,457
)
 
4,989

 
(14,992
)
 
56,479

 
6,261

 
50,280

Equity in net income of subsidiaries
45,130

 
2,735

 
11,666

 
—

 
(59,531
)
 
—

Income before taxes
42,673

 
7,724

 
(3,326
)
 
56,479

 
(53,270
)
 
50,280

Income tax (expense) benefit
(284
)
 
(1,026
)
 
1,840

 
(1,981
)
 
—

 
(1,451
)
Net income (loss)
42,389

 
6,698

 
(1,486
)
 
54,498

 
(53,270
)
 
48,829

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(6,440
)
 
—

 
(6,440
)
Net income (loss) attributable to RenaissanceRe
42,389

 
6,698

 
(1,486
)
 
48,058

 
(53,270
)
 
42,389

Dividends on preference shares
(9,708
)
 
—

 
—

 
—

 
—

 
(9,708
)
Net income (loss) available (attributable) to RenaissanceRe common shareholders
$
32,681

 
$
6,698

 
$
(1,486
)
 
$
48,058

 
$
(53,270
)
 
$
32,681

 
(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 (Loss) for the three months ended September 30, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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)
$
42,389

 
$
6,698

 
$
(1,486
)
 
$
54,498

 
$
(53,270
)
 
$
48,829

Change in net unrealized gains on investments
—

 
—

 
—

 
(382
)
 
—

 
(382
)
Comprehensive income (loss)
42,389

 
6,698

 
(1,486
)
 
54,116

 
(53,270
)
 
48,447

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(6,440
)
 
—

 
(6,440
)
Comprehensive income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(6,440
)
 
—

 
(6,440
)
Comprehensive income (loss) attributable to RenaissanceRe
$
42,389

 
$
6,698

 
$
(1,486
)
 
$
47,676

 
$
(53,270
)
 
$
42,007

(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 nine months ended September 30, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe
North
America
Holdings
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
$
—

 
$
—

 
$
—

 
$
1,401,516

 
$
—

 
$
1,401,516

Net investment income
18,504

 
1,629

 
3,981

 
208,034

 
(23,620
)
 
208,528

Net foreign exchange losses
(1
)
 
—

 
—

 
(11,495
)
 
—

 
(11,496
)
Equity in earnings of other ventures
—

 
—

 
2,045

 
12,286

 
—

 
14,331

Other income
—

 
—

 
—

 
480

 
—

 
480

Net realized and unrealized (losses) gains on investments
(821
)
 
4,906

 
(399
)
 
(90,101
)
 
—

 
(86,415
)
Total revenues
17,682

 
6,535

 
5,627

 
1,520,720

 
(23,620
)
 
1,526,944

Expenses
 
 
 
 
 
 
 
 
 
 
 
Net claims and claim expenses incurred
—

 
—

 
—

 
642,380

 
—

 
642,380

Acquisition expenses
—

 
—

 
—

 
312,524

 
—

 
312,524

Operational expenses
7,551

 
60

 
26,737

 
113,721

 
(28,661
)
 
119,408

Corporate expenses
12,498

 
—

 
7

 
9,370

 
—

 
21,875

Interest expense
3,694

 
—

 
27,763

 
7,541

 
(3,694
)
 
35,304

Total expenses
23,743

 
60

 
54,507

 
1,085,536

 
(32,355
)
 
1,131,491

(Loss) income before equity in net income of subsidiaries and taxes
(6,061
)
 
6,475

 
(48,880
)
 
435,184

 
8,735

 
395,453

Equity in net income of subsidiaries
310,081

 
4,285

 
29,005

 
—

 
(343,371
)
 
—

Income (loss) before taxes
304,020

 
10,760

 
(19,875
)
 
435,184

 
(334,636
)
 
395,453

Income tax (expense) benefit
(1,939
)
 
(1,273
)
 
5,677

 
(5,015
)
 
—

 
(2,550
)
Net income (loss)
302,081

 
9,487

 
(14,198
)
 
430,169

 
(334,636
)
 
392,903

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(90,822
)
 
—

 
(90,822
)
Net income (loss) attributable to RenaissanceRe
302,081

 
9,487

 
(14,198
)
 
339,347

 
(334,636
)
 
302,081

Dividends on preference shares
(20,899
)
 
—

 
—

 
—

 
—

 
(20,899
)
Net income (loss) available (attributable) to RenaissanceRe common shareholders
$
281,182

 
$
9,487

 
$
(14,198
)
 
$
339,347

 
$
(334,636
)
 
$
281,182

 
(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 (Loss) for the nine months ended September 30, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe
North
America
Holdings
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)
$
302,081

 
$
9,487

 
$
(14,198
)
 
$
430,169

 
$
(334,636
)
 
$
392,903

Change in net unrealized gains on investments
—

 
—

 
—

 
(1,707
)
 
—

 
(1,707
)
Comprehensive income (loss)
302,081

 
9,487

 
(14,198
)
 
428,462

 
(334,636
)
 
391,196

Net income attributable to redeemable noncontrolling interests
—

 
—

 
—

 
(90,822
)
 
—

 
(90,822
)
Comprehensive income attributable to noncontrolling interests
—

 
—

 
—

 
(90,822
)
 
—

 
(90,822
)
Comprehensive income (loss) attributable to RenaissanceRe
$
302,081

 
$
9,487

 
$
(14,198
)
 
$
337,640

 
$
(334,636
)
 
$
300,374

(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 nine months ended September 30, 2019
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe North
America
Holdings 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
$
(381,508
)
 
$
1,316

 
$
(30,943
)
 
$
1,675,567

 
$
1,264,432

Cash flows provided by (used in) investing activities
 
 
 
 
 
 
 
 
 
Proceeds from sales and maturities of fixed maturity investments trading
277,030

 
51,669

 
43,746

 
12,463,471

 
12,835,916

Purchases of fixed maturity investments trading
(66,740
)
 
(50,549
)
 
(15,910
)
 
(13,270,512
)
 
(13,403,711
)
Net purchases of equity investments trading
—

 
(2,476
)
 
—

 
(4,461
)
 
(6,937
)
Net (purchases) sales of short term investments
(34,209
)
 
506

 
(16,257
)
 
(1,312,191
)
 
(1,362,151
)
Net purchases of other investments
—

 
—

 
—

 
(130,476
)
 
(130,476
)
Net purchases of investments in other ventures
—

 
—

 
—

 
(2,341
)
 
(2,341
)
Return of investment from investments in other ventures
—

 
—

 
—

 
11,250

 
11,250

Net purchases of other assets
—

 
—

 
—

 
(4,108
)
 
(4,108
)
Dividends and return of capital from subsidiaries
855,396

 
—

 
13,500

 
(868,896
)
 
—

Contributions to subsidiaries
(1,013,916
)
 
—

 
—

 
1,013,916

 
—

Due (from) to subsidiary
48,444

 
(125
)
 
(416
)
 
(47,903
)
 
—

Net purchase of the TMR Group Entities
—

 
—

 
—

 
(276,206
)
 
(276,206
)
Net cash provided by (used in) investing activities
66,005

 
(975
)
 
24,663

 
(2,428,457
)
 
(2,338,764
)
Cash flows provided by financing activities
 
 
 
 
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(44,547
)
 
—

 
—

 
—

 
(44,547
)
Dividends paid – preference shares
(27,567
)
 
—

 
—

 
—

 
(27,567
)
Issuance of debt, net of expenses
396,411

 
—

 
—

 
—

 
396,411

Net third party redeemable noncontrolling interest share transactions
—

 
—

 
—

 
515,952

 
515,952

Taxes paid on withholding shares
(7,229
)
 
—

 
—

 
—

 
(7,229
)
Net cash provided by financing activities
317,068

 
—

 
—

 
515,952

 
833,020

Effect of exchange rate changes on foreign currency cash
—

 
—

 
—

 
4,641

 
4,641

Net increase (decrease) in cash and cash equivalents
1,565

 
341

 
(6,280
)
 
(232,297
)
 
(236,671
)
Cash and cash equivalents, beginning of period
3,534

 
3,350

 
9,604

 
1,091,434

 
1,107,922

Cash and cash equivalents, end of period
$
5,099

 
$
3,691

 
$
3,324

 
$
859,137

 
$
871,251

 
(1)
Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations.
Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2018
RenaissanceRe
Holdings Ltd.
(Parent
Guarantor)
 
RenRe
North
America
Holdings
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
$
(5,869
)
 
$
1,496

 
$
16,194

 
$
876,705

 
$
888,526

Cash flows used in investing activities
 
 
 
 
 
 
 
 
 
Proceeds from sales and maturities of fixed maturity investments trading
384,818

 
91,118

 
45,459

 
7,700,086

 
8,221,481

Purchases of fixed maturity investments trading
(281,994
)
 
(65,988
)
 
(20,806
)
 
(8,323,900
)
 
(8,692,688
)
Net (purchases) sales of equity investments trading
—

 
(624
)
 
—

 
16,114

 
15,490

Net sales (purchases) of short term investments
85,598

 
360

 
(9,206
)
 
(1,542,203
)
 
(1,465,451
)
Net purchases of other investments
—

 
—

 
—

 
(130,649
)
 
(130,649
)
Net purchases of investments in other ventures
—

 
—

 
—

 
(20,952
)
 
(20,952
)
Return of investment from investment in other ventures
—

 
—

 
—

 
8,464

 
8,464

Dividends and return of capital from subsidiaries
511,098

 
—

 
—

 
(511,098
)
 
—

Contributions to subsidiaries
(686,106
)
 
(16,847
)
 
(65,000
)
 
767,953

 
—

Due (from) to subsidiaries
(193,249
)
 
(9,598
)
 
36,262

 
166,585

 
—

Net cash used in investing activities
(179,835
)
 
(1,579
)
 
(13,291
)
 
(1,869,600
)
 
(2,064,305
)
Cash flows provided by financing activities
 
 
 
 
 
 
 
 
 
Dividends paid – RenaissanceRe common shares
(39,611
)
 
—

 
—

 
—

 
(39,611
)
Dividends paid – preference shares
(20,899
)
 
—

 
—

 
—

 
(20,899
)
Issuance of preference shares, net of expenses
242,371

 
—

 
—

 
—

 
242,371

Net third party redeemable noncontrolling interest share transactions
—

 
—

 
—

 
96,021

 
96,021

Taxes paid on withholding shares
(7,079
)
 
—

 
—

 
—

 
(7,079
)
Net cash provided by financing activities
174,782

 
—

 
—

 
96,021

 
270,803

Effect of exchange rate changes on foreign currency cash
—

 
—

 
—

 
(3,575
)
 
(3,575
)
Net (decrease) increase in cash and cash equivalents
(10,922
)
 
(83
)
 
2,903

 
(900,449
)
 
(908,551
)
Cash and cash equivalents, beginning of period
14,656

 
139

 
1,469

 
1,345,328

 
1,361,592

Cash and cash equivalents, end of period
$
3,734

 
$
56

 
$
4,372

 
$
444,879

 
$
453,041

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