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Taxation (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following is a summary of the Company’s income (loss) before taxes allocated between domestic and foreign operations:

			Year ended December 31,			2021						2020						2019
			Domestic
			Bermuda			$	156,031					$	1,122,261					$	861,068
			Foreign
			Singapore			4,420						16,416						(6,334)
			Ireland			101						1,315						(388)
			U.S.			(92,335)						286						102,724
			Australia			7,148						(1,689)						3,390
			Switzerland			(106,249)						(40,502)						14,255
			U.K.			(83,224)						(102,167)						(7,233)
			Income (loss) before taxes			$	(114,108)					$	995,920					$	967,482

Schedule of Components of Income Tax (Expense) Benefit

Income tax (expense) benefit is comprised as follows:

			Year ended December 31, 2021			Current						Deferred						Total
			Total income tax (expense) benefit			$	(992)					$	11,660					$	10,668
			Year ended December 31, 2020
			Total income tax (expense) benefit			$	(6,313)					$	3,451					$	(2,862)
			Year ended December 31, 2019
			Total income tax (expense) benefit			$	(2,128)					$	(15,087)					$	(17,215)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the difference between the provision for income taxes and the expected tax provision at the weighted average tax rate is as follows:

			Year ended December 31,			2021						2020						2019
			Expected income tax benefit (expense)			$	53,093					$	25,489					$	(22,874)
			Nondeductible expenses			(334)						5,074						(7,059)
			Reinsurance adjustment			(4,604)						—						—
			Income tax audit adjustment			—						3,424						—
			Effect of change in tax rate			14,904						3,055						(262)
			Transfer pricing			224						206						2,503
			GAAP to statutory accounting difference			—						—						6,553
			U.S. base erosion and anti-abuse tax			(1,725)						(36)						—
			Withholding tax			(1,013)						(1,822)						(665)
			Non-taxable loss on sale of RenaissanceRe UK			—						(6,091)						—
			Change in valuation allowance			(42,819)						(13,003)						(5,481)
			Foreign branch adjustments			(5,491)						(17,821)						7,315
			Other			(1,567)						(1,337)						2,755
			Income tax benefit (expense)			$	10,668					$	(2,862)					$	(17,215)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

			At December 31,			2021						2020
			Deferred tax assets
			Tax loss and credit carryforwards			$	149,739					$	128,561
			Unearned premiums			36,962						20,854
			Reserve for claims and claim expenses			22,611						14,983
			Deferred finance charges			17,962						11,427
			Deferred underwriting results			12,483						7,228
			Accrued expenses			1,788						4,826
			Amortization and depreciation			6,969						—
						248,514						187,879
			Deferred tax liabilities
			Investments			(2,180)						(23,598)
			Deferred acquisition expenses			(49,661)						(23,040)
			Intangible assets			(4,242)						(1,142)
			Amortization and depreciation			—						(1,130)
			VOBA			—						(1,017)
						(56,083)						(49,927)
			Net deferred tax asset (liability) before valuation allowance			192,431						137,952
			Valuation allowance			(131,507)						(88,688)
			Net deferred tax asset (liability)			$	60,924					$	49,264

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Name Accounting Standards Codification
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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