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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows provided by operating activities    
Net (loss) income $ (330,495) $ 25,173
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization, accretion and depreciation 1,747 (4,405)
Equity in undistributed earnings of other ventures 17,891 7,398
Net realized and unrealized losses on investments 360,424 110,707
Change in:    
Premiums receivable (1,033,491) (505,545)
Prepaid reinsurance premiums (406,134) (384,145)
Reinsurance recoverable (234,657) 25,714
Deferred acquisition costs and value of business acquired (153,420) (75,884)
Reserve for claims and claim expenses 572,245 22,358
Unearned premiums 1,069,556 714,939
Reinsurance balances payable 766,293 944,684
Other (423,421) (405,528)
Net cash provided by operating activities 206,538 475,466
Cash flows used in investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 3,469,130 3,661,294
Purchases of fixed maturity investments trading (3,808,597) (3,370,394)
Net sales (purchases) of equity investments trading 128,020 (44,514)
Net purchases of short term investments (111,085) (704,226)
Net purchases of other investments (127,661) (79,711)
Net purchases of investments in other ventures (15,542) (1,888)
Return of investment from investment in other ventures 2,604 9,157
Net cash used in investing activities (463,131) (530,282)
Cash flows used in financing activities    
Dividends paid – RenaissanceRe common shares (17,817) (15,359)
Dividends paid – preference shares (7,289) (9,056)
RenaissanceRe common share repurchases (171,645) (62,621)
Repayment of debt 0 (250,000)
Redemption of 6.08% Series C preference shares 0 (125,000)
Net third-party redeemable noncontrolling interest share transactions 13,006 42,599
Taxes paid on withholding shares (9,834) (10,180)
Net cash used in financing activities (193,579) (429,617)
Effect of exchange rate changes on foreign currency cash 20 1,581
Net decrease in cash and cash equivalents (450,152) (482,852)
Cash and cash equivalents, beginning of period 1,736,813 1,379,068
Cash and cash equivalents, end of period $ 1,286,661 $ 896,216