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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Gross premiums written $ 1,701,872 $ 1,476,908 $ 3,727,593 $ 3,041,203
Net premiums written 1,180,803 1,022,965 2,450,611 1,951,996
Increase in unearned premiums (170,707) (111,463) (527,417) (490,466)
Net premiums earned 1,010,096 911,502 1,923,194 1,461,530
Net investment income 89,305 118,588 188,778 200,682
Net foreign exchange (losses) gains (7,195) 9,309 (12,923) 6,463
Equity in earnings of other ventures 9,041 6,812 13,605 11,473
Other (loss) income (1,201) 922 (5,637) 4,093
Net realized and unrealized gains on investments 448,390 191,247 337,683 361,260
Total revenues 1,548,436 1,238,380 2,444,700 2,045,501
Expenses        
Net claims and claim expenses incurred 510,272 453,373 1,081,226 680,408
Acquisition expenses 233,610 227,482 444,214 351,433
Operational expenses 49,077 59,814 116,538 104,747
Corporate expenses 11,898 23,847 27,889 62,636
Interest expense 11,842 15,534 26,769 27,288
Total expenses 816,699 780,050 1,696,636 1,226,512
Income before taxes 731,737 458,330 748,064 818,989
Income tax expense (29,875) (9,475) (21,029) (17,006)
Net income 701,862 448,855 727,035 801,983
Net income attributable to redeemable noncontrolling interests (118,728) (71,812) (216,819) (142,034)
Net income attributable to RenaissanceRe 583,134 377,043 510,216 659,949
Dividends on preference shares (7,289) (9,189) (16,345) (18,378)
Net income available to RenaissanceRe common shareholders $ 575,845 $ 367,854 $ 493,871 $ 641,571
Net income available to RenaissanceRe common shareholders per common share – basic $ 12.64 $ 8.36 $ 11.04 $ 14.82
Net income available to RenaissanceRe common shareholders per common share – diluted 12.63 8.35 11.02 14.81
Dividends per common share (in dollars per share) $ 0.35 $ 0.34 $ 0.70 $ 0.68