XML 133 R117.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Reporting (Schedule of Significant Components of the Company's Revenues and Expenses) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Segment Reporting Information [Line Items]                      
Gross premiums written (Note 7) $ 935,514 $ 1,143,058 $ 1,701,872 $ 2,025,721 $ 905,479 $ 861,068 $ 1,476,908 $ 1,564,295 $ 5,806,165 $ 4,807,750 $ 3,310,427
Net premiums written 746,311 899,411 1,180,803 1,269,808 725,367 704,130 1,022,965 929,031 4,096,333 3,381,493 2,131,902
Net premiums earned 1,029,085 1,000,183 1,010,096 913,098 970,125 906,748 911,502 550,028 3,952,462 3,338,403 1,976,129
Net claims and claim expenses incurred 901,353 942,030 510,272 570,954 762,093 654,520 453,373 227,035 2,924,609 2,097,021 1,120,018
Acquisition expenses 238,283 215,180 233,610 210,604 208,618 202,181 227,482 123,951 897,677 762,232 432,989
Operational expenses 41,104 49,045 49,077 67,461 64,571 53,415 59,814 44,933 206,687 222,733 178,267
Underwriting income (loss)                 (76,511) 256,417 244,855
Net investment income 81,717 83,543 89,305 99,473 112,138 111,388 118,587 82,094 354,038 424,207 269,965
Net foreign exchange gains (losses) 23,270 17,426 (7,195) (5,728) (1,126) (8,275) 9,309 (2,846) 27,773 (2,938) (12,428)
Equity in earnings (losses) of other ventures (1,868) 5,457 9,041 4,564 5,874 5,877 6,812 4,661 17,194 23,224 18,474
Other income 4,374 1,476 (1,201) (4,436) (160) 1,016 922 3,171 213 4,949 5,969
Net realized and unrealized (losses) gains on investments 258,745 224,208 448,390 (110,707) 18,454 34,394 191,248 170,013 820,636 414,109 (183,168)
Corporate expenses (21,031) (48,050) (11,898) (15,991) (17,642) (13,844) (23,847) (38,789) (96,970) (94,122) (33,983)
Interest expense (11,841) (11,843) (11,842) (14,927) (15,496) (15,580) (15,534) (11,754) (50,453) (58,364) (47,069)
Income (loss) before taxes 181,711 66,145 731,737 16,327 36,885 111,608 458,330 360,659 995,920 967,482 262,615
Income tax benefit (expense) 9,923 8,244 (29,875) 8,846 3,455 (3,664) (9,475) (7,531) (2,862) (17,215) 6,302
Net income attributable to redeemable noncontrolling interests                 (230,653) (201,469) (41,553)
Dividends on preference shares (Note 12) (7,289) (7,289) (7,289) (9,056) (9,189) (9,189) (9,189) (9,189) (30,923) (36,756) (30,088)
Net income available to RenaissanceRe common shareholders $ 189,812 $ 47,799 $ 575,845 $ (81,974) $ 33,773 $ 36,698 $ 367,854 $ 273,717 731,482 712,042 197,276
Net claims and claim expenses incurred – current accident year                 3,108,421 2,123,876 1,390,767
Net claims and claim expenses incurred – prior accident years                 (183,812) (26,855) (270,749)
Total net incurred                 $ 2,924,609 $ 2,097,021 $ 1,120,018
Net claims and claim expense ratio – current accident year                 78.60% 63.60% 70.40%
Net claims and claim expense ratio – prior accident years                 (4.60%) (0.80%) (13.70%)
Net claims and claim expense ratio – calendar year                 74.00% 62.80% 56.70%
Underwriting expense ratio                 27.90% 29.50% 30.90%
Combined ratio                 101.90% 92.30% 87.60%
Other                      
Segment Reporting Information [Line Items]                      
Gross premiums written (Note 7)                 $ 0 $ 0 $ 0
Net premiums written                 0 0 0
Net premiums earned                 0 0 0
Net claims and claim expenses incurred                 212 (40) (197)
Acquisition expenses                 0 (207) (2)
Operational expenses                 0 (828) 430
Underwriting income (loss)                 (212) 1,075 (231)
Net investment income                 354,038 424,207 269,965
Net foreign exchange gains (losses)                 27,773 (2,938) (12,428)
Equity in earnings (losses) of other ventures                 17,194 23,224 18,474
Other income                 213 4,949 5,969
Net realized and unrealized (losses) gains on investments                 820,636 414,109 (183,168)
Corporate expenses                 (96,970) (94,122) (33,983)
Interest expense                 (50,453) (58,364) (47,069)
Income tax benefit (expense)                 (2,862) (17,215) 6,302
Net income attributable to redeemable noncontrolling interests                 (230,653) (201,469) (41,553)
Dividends on preference shares (Note 12)                 (30,923) (36,756) (30,088)
Net claims and claim expenses incurred – current accident year                 0 0 0
Net claims and claim expenses incurred – prior accident years                 212 (40) (197)
Total net incurred                 212 (40) (197)
Property                      
Segment Reporting Information [Line Items]                      
Gross premiums written (Note 7)                 2,999,142 2,430,985 1,760,926
Net claims and claim expenses incurred – prior accident years                 (157,261) (2,933) (221,290)
Property | Operating Segments                      
Segment Reporting Information [Line Items]                      
Gross premiums written (Note 7)                 2,999,142 2,430,985 1,760,926
Net premiums written                 2,037,200 1,654,259 1,055,188
Net premiums earned                 1,936,215 1,627,494 1,050,831
Net claims and claim expenses incurred                 1,435,735 965,424 497,895
Acquisition expenses                 353,700 313,761 177,912
Operational expenses                 135,547 139,015 112,954
Underwriting income (loss)                 11,233 209,294 262,070
Net claims and claim expenses incurred – current accident year                 1,592,996 968,357 719,185
Net claims and claim expenses incurred – prior accident years                 (157,261) (2,933) (221,290)
Total net incurred                 $ 1,435,735 $ 965,424 $ 497,895
Net claims and claim expense ratio – current accident year                 82.30% 59.50% 68.40%
Net claims and claim expense ratio – prior accident years                 (8.10%) (0.20%) (21.00%)
Net claims and claim expense ratio – calendar year                 74.20% 59.30% 47.40%
Underwriting expense ratio                 25.20% 27.80% 27.70%
Combined ratio                 99.40% 87.10% 75.10%
Casualty and Specialty                      
Segment Reporting Information [Line Items]                      
Gross premiums written (Note 7)                 $ 2,807,023 $ 2,376,765 $ 1,549,501
Net claims and claim expenses incurred – prior accident years                 (26,763) (23,882) (49,262)
Casualty and Specialty | Operating Segments                      
Segment Reporting Information [Line Items]                      
Gross premiums written (Note 7)                 2,807,023 2,376,765 1,549,501
Net premiums written                 2,059,133 1,727,234 1,076,714
Net premiums earned                 2,016,247 1,710,909 925,298
Net claims and claim expenses incurred                 1,488,662 1,131,637 622,320
Acquisition expenses                 543,977 448,678 255,079
Operational expenses                 71,140 84,546 64,883
Underwriting income (loss)                 (87,532) 46,048 (16,984)
Net claims and claim expenses incurred – current accident year                 1,515,425 1,155,519 671,582
Net claims and claim expenses incurred – prior accident years                 (26,763) (23,882) (49,262)
Total net incurred                 $ 1,488,662 $ 1,131,637 $ 622,320
Net claims and claim expense ratio – current accident year                 75.20% 67.50% 72.60%
Net claims and claim expense ratio – prior accident years                 (1.40%) (1.40%) (5.30%)
Net claims and claim expense ratio – calendar year                 73.80% 66.10% 67.30%
Underwriting expense ratio                 30.50% 31.20% 34.50%
Combined ratio                 104.30% 97.30% 101.80%