XML 66 R50.htm IDEA: XBRL DOCUMENT
v3.20.4

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Segment Reporting, Measurement Disclosures [Abstract] |
Schedule of Significant Components of the Company's Revenues and Expenses | A summary of the significant components of the Company’s revenues and expenses by segment is as follows:
| Year ended December 31, 2020 | Property |  | Casualty and Specialty |  | Other |  | Total |
| Gross premiums written | $ | 2,999,142 |  |  | $ | 2,807,023 |  |  | $ | — |  |  | $ | 5,806,165 |  |
| Net premiums written | $ | 2,037,200 |  |  | $ | 2,059,133 |  |  | $ | — |  |  | $ | 4,096,333 |  |
| Net premiums earned | $ | 1,936,215 |  |  | $ | 2,016,247 |  |  | $ | — |  |  | $ | 3,952,462 |  |
| Net claims and claim expenses incurred | 1,435,735 |  |  | 1,488,662 |  |  | 212 |  |  | 2,924,609 |  |
| Acquisition expenses | 353,700 |  |  | 543,977 |  |  | — |  |  | 897,677 |  |
| Operational expenses | 135,547 |  |  | 71,140 |  |  | — |  |  | 206,687 |  |
| Underwriting income (loss) | $ | 11,233 |  |  | $ | (87,532) |  |  | $ | (212) |  |  | (76,511) |  |
| Net investment income |  |  |  |  | 354,038 |  |  | 354,038 |  |
| Net foreign exchange gains |  |  |  |  | 27,773 |  |  | 27,773 |  |
| Equity in earnings of other ventures |  |  |  |  | 17,194 |  |  | 17,194 |  |
| Other income |  |  |  |  | 213 |  |  | 213 |  |
| Net realized and unrealized gains on investments |  |  |  |  | 820,636 |  |  | 820,636 |  |
| Corporate expenses |  |  |  |  | (96,970) |  |  | (96,970) |  |
| Interest expense |  |  |  |  | (50,453) |  |  | (50,453) |  |
| Income before taxes and redeemable noncontrolling interests |  |  |  |  |  |  | 995,920 |  |
| Income tax expense |  |  |  |  | (2,862) |  |  | (2,862) |  |
| Net income attributable to redeemable noncontrolling interests |  |  |  |  | (230,653) |  |  | (230,653) |  |
| Dividends on preference shares |  |  |  |  | (30,923) |  |  | (30,923) |  |
| Net income available to RenaissanceRe common shareholders |  |  |  |  |  |  | $ | 731,482 |  |
| Net claims and claim expenses incurred – current accident year | $ | 1,592,996 |  |  | $ | 1,515,425 |  |  | $ | — |  |  | $ | 3,108,421 |  |
| Net claims and claim expenses incurred – prior accident years | (157,261) |  |  | (26,763) |  |  | 212 |  |  | (183,812) |  |
| Net claims and claim expenses incurred – total | $ | 1,435,735 |  |  | $ | 1,488,662 |  |  | $ | 212 |  |  | $ | 2,924,609 |  |
| Net claims and claim expense ratio – current accident year | 82.3 | % |  | 75.2 | % |  |  |  | 78.6 | % |
| Net claims and claim expense ratio – prior accident years | (8.1) | % |  | (1.4) | % |  |  |  | (4.6) | % |
| Net claims and claim expense ratio – calendar year | 74.2 | % |  | 73.8 | % |  |  |  | 74.0 | % |
| Underwriting expense ratio | 25.2 | % |  | 30.5 | % |  |  |  | 27.9 | % |
| Combined ratio | 99.4 | % |  | 104.3 | % |  |  |  | 101.9 | % |
| Year ended December 31, 2019 | Property |  | Casualty and Specialty |  | Other |  | Total |
| Gross premiums written | $ | 2,430,985 |  |  | $ | 2,376,765 |  |  | $ | — |  |  | $ | 4,807,750 |  |
| Net premiums written | $ | 1,654,259 |  |  | $ | 1,727,234 |  |  | $ | — |  |  | $ | 3,381,493 |  |
| Net premiums earned | $ | 1,627,494 |  |  | $ | 1,710,909 |  |  | $ | — |  |  | $ | 3,338,403 |  |
| Net claims and claim expenses incurred | 965,424 |  |  | 1,131,637 |  |  | (40) |  |  | 2,097,021 |  |
| Acquisition expenses | 313,761 |  |  | 448,678 |  |  | (207) |  |  | 762,232 |  |
| Operational expenses | 139,015 |  |  | 84,546 |  |  | (828) |  |  | 222,733 |  |
| Underwriting income | $ | 209,294 |  |  | $ | 46,048 |  |  | $ | 1,075 |  |  | 256,417 |  |
| Net investment income |  |  |  |  | 424,207 |  |  | 424,207 |  |
| Net foreign exchange losses |  |  |  |  | (2,938) |  |  | (2,938) |  |
| Equity in earnings of other ventures |  |  |  |  | 23,224 |  |  | 23,224 |  |
| Other income |  |  |  |  | 4,949 |  |  | 4,949 |  |
| Net realized and unrealized gains on investments |  |  |  |  | 414,109 |  |  | 414,109 |  |
| Corporate expenses |  |  |  |  | (94,122) |  |  | (94,122) |  |
| Interest expense |  |  |  |  | (58,364) |  |  | (58,364) |  |
| Income before taxes and redeemable noncontrolling interests |  |  |  |  |  |  | 967,482 |  |
| Income tax expense |  |  |  |  | (17,215) |  |  | (17,215) |  |
| Net income attributable to redeemable noncontrolling interests |  |  |  |  | (201,469) |  |  | (201,469) |  |
| Dividends on preference shares |  |  |  |  | (36,756) |  |  | (36,756) |  |
| Net income available to RenaissanceRe common shareholders |  |  |  |  |  |  | $ | 712,042 |  |
| Net claims and claim expenses incurred – current accident year | $ | 968,357 |  |  | $ | 1,155,519 |  |  | $ | — |  |  | $ | 2,123,876 |  |
| Net claims and claim expenses incurred – prior accident years | (2,933) |  |  | (23,882) |  |  | (40) |  |  | (26,855) |  |
| Net claims and claim expenses incurred – total | $ | 965,424 |  |  | $ | 1,131,637 |  |  | $ | (40) |  |  | $ | 2,097,021 |  |
| Net claims and claim expense ratio – current accident year | 59.5 | % |  | 67.5 | % |  |  |  | 63.6 | % |
| Net claims and claim expense ratio – prior accident years | (0.2) | % |  | (1.4) | % |  |  |  | (0.8) | % |
| Net claims and claim expense ratio – calendar year | 59.3 | % |  | 66.1 | % |  |  |  | 62.8 | % |
| Underwriting expense ratio | 27.8 | % |  | 31.2 | % |  |  |  | 29.5 | % |
| Combined ratio | 87.1 | % |  | 97.3 | % |  |  |  | 92.3 | % |
| Year ended December 31, 2018 | Property |  | Casualty and Specialty |  | Other |  | Total |
| Gross premiums written | $ | 1,760,926 |  |  | $ | 1,549,501 |  |  | $ | — |  |  | $ | 3,310,427 |  |
| Net premiums written | $ | 1,055,188 |  |  | $ | 1,076,714 |  |  | $ | — |  |  | $ | 2,131,902 |  |
| Net premiums earned | $ | 1,050,831 |  |  | $ | 925,298 |  |  | $ | — |  |  | $ | 1,976,129 |  |
| Net claims and claim expenses incurred | 497,895 |  |  | 622,320 |  |  | (197) |  |  | 1,120,018 |  |
| Acquisition expenses | 177,912 |  |  | 255,079 |  |  | (2) |  |  | 432,989 |  |
| Operational expenses | 112,954 |  |  | 64,883 |  |  | 430 |  |  | 178,267 |  |
| Underwriting income (loss) | $ | 262,070 |  |  | $ | (16,984) |  |  | $ | (231) |  |  | 244,855 |  |
| Net investment income |  |  |  |  | 269,965 |  |  | 269,965 |  |
| Net foreign exchange losses |  |  |  |  | (12,428) |  |  | (12,428) |  |
| Equity in earnings of other ventures |  |  |  |  | 18,474 |  |  | 18,474 |  |
| Other income |  |  |  |  | 5,969 |  |  | 5,969 |  |
| Net realized and unrealized losses on investments |  |  |  |  | (183,168) |  |  | (183,168) |  |
| Corporate expenses |  |  |  |  | (33,983) |  |  | (33,983) |  |
| Interest expense |  |  |  |  | (47,069) |  |  | (47,069) |  |
| Income before taxes and redeemable noncontrolling interests |  |  |  |  |  |  | 262,615 |  |
| Income tax benefit |  |  |  |  | 6,302 |  |  | 6,302 |  |
| Net income attributable to redeemable noncontrolling interests |  |  |  |  | (41,553) |  |  | (41,553) |  |
| Dividends on preference shares |  |  |  |  | (30,088) |  |  | (30,088) |  |
| Net income available to RenaissanceRe common shareholders |  |  |  |  |  |  | $ | 197,276 |  |
| Net claims and claim expenses incurred – current accident year | $ | 719,185 |  |  | $ | 671,582 |  |  | $ | — |  |  | $ | 1,390,767 |  |
| Net claims and claim expenses incurred – prior accident years | (221,290) |  |  | (49,262) |  |  | (197) |  |  | (270,749) |  |
| Net claims and claim expenses incurred – total | $ | 497,895 |  |  | $ | 622,320 |  |  | $ | (197) |  |  | $ | 1,120,018 |  |
| Net claims and claim expense ratio – current accident year | 68.4 | % |  | 72.6 | % |  |  |  | 70.4 | % |
| Net claims and claim expense ratio – prior accident years | (21.0) | % |  | (5.3) | % |  |  |  | (13.7) | % |
| Net claims and claim expense ratio – calendar year | 47.4 | % |  | 67.3 | % |  |  |  | 56.7 | % |
| Underwriting expense ratio | 27.7 | % |  | 34.5 | % |  |  |  | 30.9 | % |
| Combined ratio | 75.1 | % |  | 101.8 | % |  |  |  | 87.6 | % |
Schedule of Gross Premiums Written Allocated to the Territory of Coverage Exposure | The following is a summary of the Company’s gross premiums written allocated to the territory of coverage exposure:
| Year ended December 31, | 2020 |  | 2019 |  | 2018 |
| Property |  |  |  |  |  |
| U.S. and Caribbean | $ | 1,683,538 |  |  | $ | 1,368,205 |  |  | $ | 978,063 |  |
| Worldwide | 889,917 |  |  | 643,744 |  |  | 464,311 |  |
| Europe | 189,587 |  |  | 182,544 |  |  | 144,857 |  |
| Japan | 102,228 |  |  | 90,328 |  |  | 71,601 |  |
| Worldwide (excluding U.S.) (1) | 62,058 |  |  | 79,393 |  |  | 66,872 |  |
| Australia and New Zealand | 40,243 |  |  | 32,203 |  |  | 19,273 |  |
| Other | 31,571 |  |  | 34,568 |  |  | 15,949 |  |
| Total Property | 2,999,142 |  |  | 2,430,985 |  |  | 1,760,926 |  |
| Casualty and Specialty |  |  |  |  |  |
| Worldwide | 1,315,386 |  |  | 935,626 |  |  | 776,976 |  |
| U.S. and Caribbean | 1,248,981 |  |  | 1,071,170 |  |  | 667,125 |  |
| Europe | 121,369 |  |  | 227,178 |  |  | 15,296 |  |
| Worldwide (excluding U.S.) (1) | 56,225 |  |  | 25,291 |  |  | 31,734 |  |
| Australia and New Zealand | 12,429 |  |  | 34,053 |  |  | 3,667 |  |
| Other | 52,633 |  |  | 83,447 |  |  | 54,703 |  |
| Total Casualty and Specialty | 2,807,023 |  |  | 2,376,765 |  |  | 1,549,501 |  |
| Total gross premiums written | $ | 5,806,165 |  |  | $ | 4,807,750 |  |  | $ | 3,310,427 |  |
(1)The category “Worldwide (excluding U.S.)” consists of contracts that cover more than one geographic region (other than the U.S.).

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingMeasurementDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration