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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows provided by operating activities    
Net income $ 247,156 $ 727,035
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization, accretion and depreciation (7,927) (8,526)
Equity in undistributed earnings of other ventures 15,848 1,388
Net realized and unrealized losses (gains) on investments 160,077 (337,683)
Change in:    
Premiums receivable (1,586,861) (920,069)
Prepaid reinsurance premiums (537,459) (498,422)
Reinsurance recoverable (261,628) 16,939
Deferred acquisition costs and value of business acquired (250,405) (70,295)
Reserve for claims and claim expenses 563,604 (18,880)
Unearned premiums 1,520,661 1,018,666
Reinsurance balances payable 1,001,489 1,263,336
Other (529,386) (316,524)
Net cash provided by operating activities 335,169 856,965
Cash flows provided by (used in) investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 8,921,362 8,340,351
Purchases of fixed maturity investments trading (9,251,778) (8,949,454)
Net sales (purchases) of equity investments trading 123,242 (45,008)
Net sales (purchases) of short term investments 624,792 (990,604)
Net purchases of other investments (286,511) (90,010)
Net purchases of investments in other ventures (15,342) (1,994)
Return of investment from investment in other ventures 2,622 9,157
Net cash provided by (used in) investing activities 118,387 (1,727,562)
Cash flows (used in) provided by financing activities    
Dividends paid – RenaissanceRe common shares (34,997) (33,063)
Dividends paid – preference shares (14,578) (16,345)
RenaissanceRe common share issuance, net of expenses 0 1,095,549
RenaissanceRe common share repurchases (480,660) (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 140,439 79,283
Taxes paid on withholding shares (9,897) (10,243)
Net cash (used in) provided by financing activities (399,693) 677,560
Effect of exchange rate changes on foreign currency cash (920) (187)
Net increase (decrease) in cash and cash equivalents 52,943 (193,224)
Cash and cash equivalents, beginning of period 1,736,813 1,379,068
Cash and cash equivalents, end of period $ 1,789,756 $ 1,185,844