XML 23 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows provided by operating activities      
Net income $ 993,058 $ 950,267 $ 268,917
Adjustments to reconcile net income to net cash provided by operating activities      
Amortization, accretion and depreciation 16,652 (58,964) 123
Equity in undistributed losses (earnings) of other ventures 1,561 (762) (3,772)
Net realized and unrealized (gains) losses on investments (820,636) (414,109) 183,168
Loss on sale of RenaissanceRe UK 30,242 0 0
Change in:      
Premiums receivable (293,581) (424,973) (232,566)
Prepaid reinsurance premiums (55,801) (11,798) (82,639)
Reinsurance recoverable (138,361) 129,665 (785,591)
Deferred acquisition costs 30,442 118,676 (50,110)
Reserve for claims and claim expenses 1,155,615 900,562 995,863
Unearned premiums 232,949 51,343 238,412
Reinsurance balances payable 662,281 658,532 912,966
Other 178,314 238,756 (223,070)
Net cash provided by operating activities 1,992,735 2,137,195 1,221,701
Cash flows used in investing activities      
Proceeds from sales and maturities of fixed maturity investments trading 15,186,952 17,313,940 11,585,576
Purchases of fixed maturity investments trading (16,836,538) (17,919,343) (12,489,972)
Net sales (purchases) of equity investments trading 829 (7,841) 14,156
Net purchases of short term investments (581,473) (1,900,741) (1,436,389)
Net purchases of other investments (216,760) (202,878) (199,475)
Net purchases of investments in other ventures (3,698) (2,717) (21,473)
Return of investment from investment in other ventures 9,255 11,250 8,464
Net (purchases) sales of other assets 0 (4,108) 2,500
Net proceeds from sale of RenaissanceRe UK 136,744 0 0
Net purchase of TMR 0 (276,206) 0
Net cash used in investing activities (2,304,689) (2,988,644) (2,536,613)
Cash flows provided by financing activities      
Dividends paid – RenaissanceRe common shares (68,490) (59,368) (52,841)
Dividends paid – preference shares (30,923) (36,756) (30,088)
RenaissanceRe common share repurchases (62,621) 0 0
RenaissanceRe common share issuance 1,095,507 0 250,000
Issuance of debt, net of expenses 0 396,411 0
Repayment of debt (250,000) 0 0
Redemption of preference shares (125,000) 0 0
Issuance of preference shares, net of expenses 0 0 241,448
Net third-party redeemable noncontrolling interest share transactions 119,071 827,083 665,683
Taxes paid on withholding shares (12,330) (7,253) (7,862)
Net cash provided by financing activities 665,214 1,120,117 1,066,340
Effect of exchange rate changes on foreign currency cash 4,485 2,478 (5,098)
Net increase (decrease) in cash and cash equivalents 357,745 271,146 (253,670)
Cash and cash equivalents, beginning of year 1,379,068 1,107,922 1,361,592
Cash and cash equivalents, end of year 1,736,813 1,379,068 1,107,922
Supplemental Cash Flow Information      
Income taxes paid 5,668 9,749 341
Interest paid $ 48,805 $ 53,220 $ 45,623