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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Gross premiums written $ 861,068 $ 625,677 $ 3,902,271 $ 2,762,672
Net premiums written 704,130 453,255 2,656,126 1,720,808
Decrease (increase) in unearned premiums 202,618 78,594 (287,848) (319,292)
Net premiums earned 906,748 531,849 2,368,278 1,401,516
Net investment income 113,844 80,696 311,138 208,528
Net foreign exchange losses (8,275) (4,566) (1,812) (11,496)
Equity in earnings of other ventures 5,877 7,648 17,350 14,331
Other income 1,016 497 5,109 480
Net realized and unrealized gains (losses) on investments 31,938 13,630 396,586 (86,415)
Total revenues 1,051,148 629,754 3,096,649 1,526,944
Expenses        
Net claims and claim expenses incurred 654,520 410,510 1,334,928 642,380
Acquisition expenses 202,181 109,761 553,614 312,524
Operational expenses 53,415 40,593 158,162 119,408
Corporate expenses 13,844 6,841 76,480 21,875
Interest expense 15,580 11,769 42,868 35,304
Total expenses 939,540 579,474 2,166,052 1,131,491
Income before taxes 111,608 50,280 930,597 395,453
Income tax expense (3,664) (1,451) (20,670) (2,550)
Net income 107,944 48,829 909,927 392,903
Net income attributable to redeemable noncontrolling interests (62,057) (6,440) (204,091) (90,822)
Net income attributable to RenaissanceRe 45,887 42,389 705,836 302,081
Dividends on preference shares (9,189) (9,708) (27,567) (20,899)
Net income available to RenaissanceRe common shareholders $ 36,698 $ 32,681 $ 678,269 $ 281,182
Net income available to RenaissanceRe common shareholders per common share – basic (in dollars per share) $ 0.83 $ 0.82 $ 15.58 $ 7.02
Net income available to RenaissanceRe common shareholders per common share – diluted (in dollars per share) 0.83 0.82 15.57 7.02
Dividends per common share (in dollars per share) $ 0.34 $ 0.33 $ 1.02 $ 0.99