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Segment Reporting
 9 Months Ended
Sep. 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 September 30, 2021PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$773,692 $1,000,488 $— $1,774,180 
Net premiums written$681,095 $805,345 $— $1,486,440 
Net premiums earned$816,376 $689,889 $— $1,506,265 
Net claims and claim expenses incurred1,323,678 474,367 — 1,798,045 
Acquisition expenses134,179 193,869 — 328,048 
Operational expenses40,448 18,549 — 58,997 
Underwriting (loss) income$(681,929)$3,104 $— (678,825)
Net investment income78,267 78,267 
Net foreign exchange loss(4,755)(4,755)
Equity in earnings of other ventures5,305 5,305 
Other income1,692 1,692 
Net realized and unrealized loss on investments(42,071)(42,071)
Corporate expenses(10,196)(10,196)
Interest expense(11,919)(11,919)
Loss before taxes and redeemable noncontrolling interests(662,502)
Income tax benefit23,630 23,630 
Net loss attributable to redeemable noncontrolling interests198,495 198,495 
Dividends on preference shares(9,845)(9,845)
Net loss attributable to RenaissanceRe common shareholders$(450,222)
Net claims and claim expenses incurred – current accident year$1,469,613 $476,082 $— $1,945,695 
Net claims and claim expenses incurred – prior accident years(145,935)(1,715)— (147,650)
Net claims and claim expenses incurred – total$1,323,678 $474,367 $— $1,798,045 
Net claims and claim expense ratio – current accident year180.0 %69.0 %129.2 %
Net claims and claim expense ratio – prior accident years(17.9)%(0.2)%(9.8)%
Net claims and claim expense ratio – calendar year162.1 %68.8 %119.4 %
Underwriting expense ratio21.4 %30.8 %25.7 %
Combined ratio183.5 %99.6 %145.1 %
Nine months ended September 30, 2021PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$3,574,067 $2,946,713 $— $6,520,780 
Net premiums written$2,492,890 $2,329,925 $— $4,822,815 
Net premiums earned$1,981,939 $1,870,952 $— $3,852,891 
Net claims and claim expenses incurred1,919,660 1,265,457 — 3,185,117 
Acquisition expenses356,171 524,701 — 880,872 
Operational expenses114,710 57,801 — 172,511 
Underwriting (loss) income$(408,602)$22,993 $— (385,609)
Net investment income238,996 238,996 
Net foreign exchange losses(24,309)(24,309)
Equity in earnings of other ventures8,479 8,479 
Other income4,449 4,449 
Net realized and unrealized losses on investments(196,616)(196,616)
Corporate expenses(30,726)(30,726)
Interest expense(35,664)(35,664)
Loss before taxes and redeemable noncontrolling interests(421,000)
Income tax benefit29,284 29,284 
Net loss attributable to redeemable noncontrolling interests131,801 131,801 
Dividends on preference shares(24,423)(24,423)
Net loss attributable to RenaissanceRe common shareholders$(284,338)
Net claims and claim expenses incurred – current accident year$2,121,740 $1,272,088 $— $3,393,828 
Net claims and claim expenses incurred – prior accident years(202,080)(6,631)— (208,711)
Net claims and claim expenses incurred – total$1,919,660 $1,265,457 $— $3,185,117 
Net claims and claim expense ratio – current accident year107.1 %68.0 %88.1 %
Net claims and claim expense ratio – prior accident years(10.2)%(0.4)%(5.4)%
Net claims and claim expense ratio – calendar year96.9 %67.6 %82.7 %
Underwriting expense ratio23.7 %31.2 %27.3 %
Combined ratio120.6 %98.8 %110.0 %
Three months ended September 30, 2020PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$427,765 $715,293 $— $1,143,058 
Net premiums written$378,708 $520,703 $— $899,411 
Net premiums earned$516,623 $483,560 $— $1,000,183 
Net claims and claim expenses incurred590,978 351,052 — 942,030 
Acquisition expenses98,545 116,636 — 215,180 
Operational expenses33,725 15,319 — 49,045 
Underwriting (loss) income$(206,625)$553 $— (206,072)
Net investment income83,543 83,543 
Net foreign exchange gains17,426 17,426 
Equity in earnings of other ventures5,457 5,457 
Other income1,476 1,476 
Net realized and unrealized gains on investments224,208 224,208 
Corporate expenses(48,050)(48,050)
Interest expense(11,843)(11,843)
Income before taxes and redeemable noncontrolling interests66,145 
Income tax benefit8,244 8,244 
Net income attributable to redeemable noncontrolling interests(19,301)(19,301)
Dividends on preference shares(7,289)(7,289)
Net income available to RenaissanceRe common shareholders$47,799 
Net claims and claim expenses incurred – current accident year$629,827 $366,080 $— $995,907 
Net claims and claim expenses incurred – prior accident years(38,849)(15,028)— (53,877)
Net claims and claim expenses incurred – total$590,978 $351,052 $— $942,030 
Net claims and claim expense ratio – current accident year121.9 %75.7 %99.6 %
Net claims and claim expense ratio – prior accident years(7.5)%(3.1)%(5.4)%
Net claims and claim expense ratio – calendar year114.4 %72.6 %94.2 %
Underwriting expense ratio25.6 %27.3 %26.4 %
Combined ratio140.0 %99.9 %120.6 %
Nine months ended September 30, 2020PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$2,690,827 $2,179,824 $— $4,870,651 
Net premiums written$1,757,427 $1,592,595 $— $3,350,022 
Net premiums earned$1,429,074 $1,494,303 $— $2,923,377 
Net claims and claim expenses incurred899,729 1,123,527 — 2,023,256 
Acquisition expenses278,668 380,726 — 659,394 
Operational expenses109,388 56,195 — 165,583 
Underwriting income (loss)$141,289 $(66,145)$— 75,144 
Net investment income272,321 272,321 
Net foreign exchange gains4,503 4,503 
Equity in earnings of other ventures19,062 19,062 
Other loss(4,161)(4,161)
Net realized and unrealized gains on investments561,891 561,891 
Corporate expenses(75,939)(75,939)
Interest expense(38,612)(38,612)
Income before taxes and redeemable noncontrolling interests814,209 
Income tax expense(12,785)(12,785)
Net income attributable to redeemable noncontrolling interests(236,120)(236,120)
Dividends on preference shares(23,634)(23,634)
Net income available to RenaissanceRe common shareholders$541,670 
Net claims and claim expenses incurred – current accident year$931,285 $1,147,354 $— $2,078,639 
Net claims and claim expenses incurred – prior accident years(31,556)(23,827)— (55,383)
Net claims and claim expenses incurred – total$899,729 $1,123,527 $— $2,023,256 
Net claims and claim expense ratio – current accident year65.2 %76.8 %71.1 %
Net claims and claim expense ratio – prior accident years(2.2)%(1.6)%(1.9)%
Net claims and claim expense ratio – calendar year63.0 %75.2 %69.2 %
Underwriting expense ratio27.1 %29.2 %28.2 %
Combined ratio90.1 %104.4 %97.4 %