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Segment Reporting
 6 Months Ended
Jun. 30, 2021
Segment Reporting, Measurement Disclosures [Abstract]  
Segment Reporting SEGMENT REPORTING
The Company’s reportable segments are defined as follows: (1) Property, which is comprised of catastrophe and other property reinsurance and insurance written on behalf of the Company’s operating subsidiaries and certain joint ventures and managed funds, and (2) Casualty and Specialty, which is comprised of casualty and specialty reinsurance and insurance written on behalf of the Company’s operating subsidiaries and certain joint ventures and managed funds. In addition to its reportable segments, the Company has an Other category, which primarily includes its strategic investments, investments unit, corporate expenses, capital servicing costs, noncontrolling interests and certain expenses related to acquisitions and disposals.
The Company’s Property segment is managed by the Chief Underwriting Officer - Property and the Casualty and Specialty segment is managed by the Chief Underwriting Officer - Casualty and Specialty, each of whom operate under the direction of the Company’s Group Chief Underwriting Officer, who in turn reports to the Company’s President and Chief Executive Officer.
The Company does not manage its assets by segment; accordingly, net investment income and total assets are not allocated to the segments.
A summary of the significant components of the Company’s revenues and expenses by segment is as follows:
Three months ended June 30, 2021PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,183,556 $910,602 $— $2,094,158 
Net premiums written$803,335 $708,957 $— $1,512,292 
Net premiums earned$560,397 $632,393 $— $1,192,790 
Net claims and claim expenses incurred97,150 422,871 — 520,021 
Acquisition expenses109,238 176,352 — 285,590 
Operational expenses38,887 19,316 — 58,203 
Underwriting income$315,122 $13,854 $— 328,976 
Net investment income80,925 80,925 
Net foreign exchange gains3,234 3,234 
Equity in earnings of other ventures8,732 8,732 
Other income586 586 
Net realized and unrealized gains on investments191,018 191,018 
Corporate expenses(10,125)(10,125)
Interest expense(11,833)(11,833)
Income before taxes and redeemable noncontrolling interests591,513 
Income tax expense(13,862)(13,862)
Net income attributable to redeemable noncontrolling interests(113,544)(113,544)
Dividends on preference shares(7,289)(7,289)
Net income available to RenaissanceRe common shareholders$456,818 
Net claims and claim expenses incurred – current accident year$148,133 $423,917 $— $572,050 
Net claims and claim expenses incurred – prior accident years(50,983)(1,046)— (52,029)
Net claims and claim expenses incurred – total$97,150 $422,871 $— $520,021 
Net claims and claim expense ratio – current accident year26.4 %67.0 %48.0 %
Net claims and claim expense ratio – prior accident years(9.1)%(0.1)%(4.4)%
Net claims and claim expense ratio – calendar year17.3 %66.9 %43.6 %
Underwriting expense ratio26.5 %30.9 %28.8 %
Combined ratio43.8 %97.8 %72.4 %
Six months ended June 30, 2021PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$2,800,375 $1,946,225 $— $4,746,600 
Net premiums written$1,811,795 $1,524,580 $— $3,336,375 
Net premiums earned$1,165,563 $1,181,063 $— $2,346,626 
Net claims and claim expenses incurred595,982 791,090 — 1,387,072 
Acquisition expenses221,992 330,832 — 552,824 
Operational expenses74,262 39,252 — 113,514 
Underwriting income$273,327 $19,889 $— 293,216 
Net investment income160,729 160,729 
Net foreign exchange losses(19,554)(19,554)
Equity in earnings of other ventures3,174 3,174 
Other income2,757 2,757 
Net realized and unrealized losses on investments(154,545)(154,545)
Corporate expenses(20,530)(20,530)
Interest expense(23,745)(23,745)
Income before taxes and redeemable noncontrolling interests241,502 
Income tax benefit5,654 5,654 
Net income attributable to redeemable noncontrolling interests(66,694)(66,694)
Dividends on preference shares(14,578)(14,578)
Net income available to RenaissanceRe common shareholders$165,884 
Net claims and claim expenses incurred – current accident year$652,127 $796,006 $— $1,448,133 
Net claims and claim expenses incurred – prior accident years(56,145)(4,916)— (61,061)
Net claims and claim expenses incurred – total$595,982 $791,090 $— $1,387,072 
Net claims and claim expense ratio – current accident year55.9 %67.4 %61.7 %
Net claims and claim expense ratio – prior accident years(4.8)%(0.4)%(2.6)%
Net claims and claim expense ratio – calendar year51.1 %67.0 %59.1 %
Underwriting expense ratio25.4 %31.3 %28.4 %
Combined ratio76.5 %98.3 %87.5 %
Three months ended June 30, 2020PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,042,536 $659,336 $— $1,701,872 
Net premiums written$704,138 $476,665 $— $1,180,803 
Net premiums earned$491,116 $518,980 $— $1,010,096 
Net claims and claim expenses incurred164,006 346,266 — 510,272 
Acquisition expenses94,773 138,837 — 233,610 
Operational expenses31,655 17,422 — 49,077 
Underwriting income$200,682 $16,455 $— 217,137 
Net investment income89,305 89,305 
Net foreign exchange losses(7,195)(7,195)
Equity in earnings of other ventures9,041 9,041 
Other loss(1,201)(1,201)
Net realized and unrealized gains on investments448,390 448,390 
Corporate expenses(11,898)(11,898)
Interest expense(11,842)(11,842)
Income before taxes and redeemable noncontrolling interests731,737 
Income tax expense(29,875)(29,875)
Net income attributable to redeemable noncontrolling interests(118,728)(118,728)
Dividends on preference shares(7,289)(7,289)
Net income available to RenaissanceRe common shareholders$575,845 
Net claims and claim expenses incurred – current accident year$170,614 $355,064 $— $525,678 
Net claims and claim expenses incurred – prior accident years(6,608)(8,798)— (15,406)
Net claims and claim expenses incurred – total$164,006 $346,266 $— $510,272 
Net claims and claim expense ratio – current accident year34.7 %68.4 %52.0 %
Net claims and claim expense ratio – prior accident years(1.3)%(1.7)%(1.5)%
Net claims and claim expense ratio – calendar year33.4 %66.7 %50.5 %
Underwriting expense ratio25.7 %30.1 %28.0 %
Combined ratio59.1 %96.8 %78.5 %
Six months ended June 30, 2020PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$2,263,062 $1,464,531 $— $3,727,593 
Net premiums written$1,378,719 $1,071,892 $— $2,450,611 
Net premiums earned$912,451 $1,010,743 $— $1,923,194 
Net claims and claim expenses incurred308,751 772,475 — 1,081,226 
Acquisition expenses180,124 264,090 — 444,214 
Operational expenses75,662 40,876 — 116,538 
Underwriting income (loss)$347,914 $(66,698)$— 281,216 
Net investment income188,778 188,778 
Net foreign exchange losses(12,923)(12,923)
Equity in earnings of other ventures13,605 13,605 
Other loss(5,637)(5,637)
Net realized and unrealized gains on investments337,683 337,683 
Corporate expenses(27,889)(27,889)
Interest expense(26,769)(26,769)
Income before taxes and redeemable noncontrolling interests748,064 
Income tax expense(21,029)(21,029)
Net income attributable to redeemable noncontrolling interests(216,819)(216,819)
Dividends on preference shares(16,345)(16,345)
Net income available to RenaissanceRe common shareholders$493,871 
Net claims and claim expenses incurred – current accident year$301,458 $781,274 $— $1,082,732 
Net claims and claim expenses incurred – prior accident years7,293 (8,799)— (1,506)
Net claims and claim expenses incurred – total$308,751 $772,475 $— $1,081,226 
Net claims and claim expense ratio – current accident year33.0 %77.3 %56.3 %
Net claims and claim expense ratio – prior accident years0.8 %(0.9)%(0.1)%
Net claims and claim expense ratio – calendar year33.8 %76.4 %56.2 %
Underwriting expense ratio28.1 %30.2 %29.2 %
Combined ratio61.9 %106.6 %85.4 %