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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Gross premiums written $ 1,143,058 $ 861,068 $ 4,870,651 $ 3,902,271
Net premiums written 899,411 704,130 3,350,022 2,656,126
Decrease (increase) in unearned premiums 100,772 202,618 (426,645) (287,848)
Net premiums earned 1,000,183 906,748 2,923,377 2,368,278
Net investment income 83,543 111,387 272,321 312,069
Net foreign exchange gains (losses) 17,426 (8,275) 4,503 (1,812)
Equity in earnings of other ventures 5,457 5,877 19,062 17,350
Other income (loss) 1,476 1,016 (4,161) 5,109
Net realized and unrealized gains on investments 224,208 34,395 561,891 395,655
Total revenues 1,332,293 1,051,148 3,776,993 3,096,649
Expenses        
Net claims and claim expenses incurred 942,030 654,520 2,023,256 1,334,928
Acquisition expenses 215,180 202,181 659,394 553,614
Operational expenses 49,045 53,415 165,583 158,162
Corporate expenses 48,050 13,844 75,939 76,480
Interest expense 11,843 15,580 38,612 42,868
Total expenses 1,266,148 939,540 2,962,784 2,166,052
Income before taxes 66,145 111,608 814,209 930,597
Income tax benefit (expense) 8,244 (3,664) (12,785) (20,670)
Net income 74,389 107,944 801,424 909,927
Net income attributable to redeemable noncontrolling interests (19,301) (62,057) (236,120) (204,091)
Net income attributable to RenaissanceRe 55,088 45,887 565,304 705,836
Dividends on preference shares (7,289) (9,189) (23,634) (27,567)
Net income available to RenaissanceRe common shareholders $ 47,799 $ 36,698 $ 541,670 $ 678,269
Net income available to RenaissanceRe common shareholders per common share – basic (in dollars per share) $ 0.94 $ 0.83 $ 11.60 $ 15.58
Net income available to RenaissanceRe common shareholders per common share – diluted (in dollars per share) 0.94 0.83 11.58 15.57
Dividends per common share (in dollars per share) $ 0.35 $ 0.34 $ 1.05 $ 1.02