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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Gross premiums written $ 2,094,158 $ 1,701,872 $ 4,746,600 $ 3,727,593
Net premiums written 1,512,292 1,180,803 3,336,375 2,450,611
Increase in unearned premiums (319,502) (170,707) (989,749) (527,417)
Net premiums earned 1,192,790 1,010,096 2,346,626 1,923,194
Net investment income 80,925 89,305 160,729 188,778
Net foreign exchange gains (losses) 3,234 (7,195) (19,554) (12,923)
Equity in earnings of other ventures 8,732 9,041 3,174 13,605
Other income (loss) 586 (1,201) 2,757 (5,637)
Net realized and unrealized gains (losses) on investments 191,018 448,390 (154,545) 337,683
Total revenues 1,477,285 1,548,436 2,339,187 2,444,700
Expenses        
Net claims and claim expenses incurred 520,021 510,272 1,387,072 1,081,226
Acquisition expenses 285,590 233,610 552,824 444,214
Operational expenses 58,203 49,077 113,514 116,538
Corporate expenses 10,125 11,898 20,530 27,889
Interest expense 11,833 11,842 23,745 26,769
Total expenses 885,772 816,699 2,097,685 1,696,636
Income before taxes 591,513 731,737 241,502 748,064
Income tax (expense) benefit (13,862) (29,875) 5,654 (21,029)
Net income 577,651 701,862 247,156 727,035
Net income attributable to redeemable noncontrolling interests (113,544) (118,728) (66,694) (216,819)
Net income available to RenaissanceRe 464,107 583,134 180,462 510,216
Dividends on preference shares (7,289) (7,289) (14,578) (16,345)
Net income available to RenaissanceRe common shareholders $ 456,818 $ 575,845 $ 165,884 $ 493,871
Net income available to RenaissanceRe common shareholders per common share – basic (in dollars per share) $ 9.36 $ 12.64 $ 3.36 $ 11.04
Net income available to RenaissanceRe common shareholders per common share – diluted (in dollars per share) 9.35 12.63 3.35 11.02
Dividends per common share (in dollars per share) $ 0.36 $ 0.35 $ 0.72 $ 0.70