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Schedule II. Condensed Financial Information Of Registrant

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Registrant

SCHEDULE II

RENAISSANCERE HOLDINGS LTD.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

RENAISSANCERE HOLDINGS LTD.

BALANCE SHEETS

AT DECEMBER 31, 2021 AND 2020

(PARENT COMPANY)

(THOUSANDS OF UNITED STATES DOLLARS)

			At December 31,
			2021						2020
Assets
Fixed maturity investments trading, at fair value - amortized cost $0 at December 31, 2021 (2020 - $14,840)			$	—					$	14,790
Short term investments, at fair value			46,503						125,392
Cash and cash equivalents			35,834						29,830
Investments in subsidiaries			6,137,229						6,757,962
Due from subsidiaries			9,468						2,435
Accrued investment income			6						34
Receivable for investments sold			3						18
Other assets			859,176						932,153
Goodwill and other intangible assets			108,261						112,110
Total assets			$	7,196,480					$	7,974,724
Liabilities and Shareholders’ Equity
Liabilities
Notes and bank loans payable			$	393,306					$	392,391
Due to subsidiaries			156,353						—
Other liabilities			22,540						22,085
Total liabilities			572,199						414,476
Shareholders’ Equity
Preference shares: $1.00 par value – 30,000 shares issued and outstanding at December 31, 2021 (2020 – 11,010,000)			750,000						525,000
Common shares: $1.00 par value – 44,444,831 shares issued and outstanding at December 31, 2021 (2020 – 50,810,618)			44,445						50,811
Additional paid-in capital			608,121						1,623,206
Accumulated other comprehensive income (loss)			(10,909)						(12,642)
Retained earnings			5,232,624						5,373,873
Total shareholders’ equity			6,624,281						7,560,248
Total liabilities and shareholders’ equity			$	7,196,480					$	7,974,724

SCHEDULE II

RENAISSANCERE HOLDINGS LTD.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED

RENAISSANCERE HOLDINGS LTD.

STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019

(PARENT COMPANY)

(THOUSANDS OF UNITED STATES DOLLARS) 

			Year ended December 31,
			2021						2020						2019
Revenues
Net investment income			$	38,347					$	40,502					$	39,629
Net foreign exchange gains (losses)			(10,740)						10,729						7,342
Net realized and unrealized gains (losses) on investments			6,212						(4,556)						12,393
Total revenues			33,819						46,675						59,364
Expenses
Interest expense			15,315						15,583						18,086
Operational expenses			12,043						8,016						7,506
Corporate expenses			35,946						47,223						58,393
Total expenses			63,304						70,822						83,985
Income (loss) before equity in net income of subsidiaries			(29,485)						(24,147)						(24,621)
Equity in net income (loss) of subsidiaries			(10,670)						786,552						773,419
Net income (loss)			(40,155)						762,405						748,798
Dividends on preference shares			(33,266)						(30,923)						(36,756)
Net income (loss) available (attributable) to RenaissanceRe common shareholders			$	(73,421)					$	731,482					$	712,042

RENAISSANCERE HOLDINGS LTD.

STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019

(PARENT COMPANY)

(THOUSANDS OF UNITED STATES DOLLARS) 

			Year ended December 31,
			2021						2020						2019
Comprehensive income (loss)
Net income (loss)			$	(40,155)					$	762,405					$	748,798
Change in net unrealized gains (losses) on investments, net of tax			(2,492)						606						2,173
Foreign currency translation adjustments, net of tax			4,225						(11,309)						(2,679)
Comprehensive income (loss) attributable to RenaissanceRe			$	(38,422)					$	751,702					$	748,292

SCHEDULE II

RENAISSANCERE HOLDINGS LTD.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED

RENAISSANCERE HOLDINGS LTD.

STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2021, 2020 AND 2019

(PARENT COMPANY)

(THOUSANDS OF UNITED STATES DOLLARS)

			Year ended December 31,
			2021						2020						2019
Cash flows provided by (used in) operating activities:
Net income (loss)			$	(40,155)					$	762,405					$	748,798
Less: equity in net income of subsidiaries			10,670						(786,552)						(773,419)
			(29,485)						(24,147)						(24,621)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Net realized and unrealized (gains) losses on investments			4,898						4,556						(12,393)
Other			59,873						37,782						34,153
Net cash provided by (used in) operating activities			35,286						18,191						(2,861)
Cash flows provided by (used in) investing activities:
Proceeds from maturities and sales of fixed maturity investments trading			436,122						370,905						306,579
Purchases of fixed maturity investments trading			(421,323)						(384,415)						(66,740)
Net sales (purchases) of short term investments			78,904						64,209						(116,499)
Dividends and return of capital from subsidiaries			1,104,831						827,626						1,400,944
Contributions to subsidiaries			(351,548)						(1,623,708)						(1,165,607)
Due (to) from subsidiary			50,472						(65,438)						(625,924)
Net cash provided by (used in) investing activities			897,458						(810,821)						(267,247)
Cash flows provided by (used in) financing activities:
Dividends paid – RenaissanceRe common shares			(67,828)						(68,490)						(59,368)
Dividends paid – preference shares			(32,889)						(30,923)						(36,756)
Issuance of debt, net of expenses			—						—						396,411
RenaissanceRe common share repurchases			(1,027,505)						(62,621)						—
RenaissanceRe common share issuance			—						1,095,507						—
Redemption of preference shares			(275,000)						(125,000)						—
Issuance of preference shares, net of expenses			488,653						—						—
Taxes paid on withholding shares			(12,171)						(12,330)						(7,253)
Net cash provided by (used in) financing activities			(926,740)						796,143						293,034
Effect of exchange rate changes on foreign currency cash			—						(143)						—
Net increase (decrease) in cash and cash equivalents			6,004						3,370						22,926
Cash and cash equivalents, beginning of year			29,830						26,460						3,534
Cash and cash equivalents, end of year			$	35,834					$	29,830					$	26,460

X

- References

No definition available.

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X

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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