XML 23 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows provided by (used in) operating activities      
Net income (loss) $ (103,440) $ 993,058 $ 950,267
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Amortization, accretion and depreciation (20,989) 16,652 (58,964)
Equity in undistributed (earnings) losses of other ventures 13,200 1,561 (762)
Net realized and unrealized (gains) losses on investments 205,897 (820,636) (414,109)
Loss on sale of RenaissanceRe UK 0 30,242 0
Change in:      
Premiums receivable (886,911) (293,581) (424,973)
Prepaid reinsurance premiums (31,140) (55,801) (11,798)
Reinsurance recoverable (1,342,659) (138,361) 129,665
Deferred acquisition costs (215,639) 30,442 118,676
Reserve for claims and claim expenses 2,913,492 1,155,615 900,562
Unearned premiums 767,614 232,949 51,343
Reinsurance balances payable 372,611 662,281 658,532
Other (437,221) 178,314 238,756
Net cash provided by (used in) operating activities 1,234,815 1,992,735 2,137,195
Cash flows provided by (used in) investing activities      
Proceeds from sales and maturities of fixed maturity investments trading 15,543,565 15,186,952 17,313,940
Purchases of fixed maturity investments trading (15,680,351) (16,836,538) (17,919,343)
Net sales (purchases) of equity investments trading 206,595 829 (7,841)
Net sales (purchases) of short term investments (252,833) (581,473) (1,900,741)
Net sales (purchases) of other investments (617,782) (216,760) (202,878)
Net sales (purchases) of investments in other ventures (23,835) (3,698) (2,717)
Return of investment from investment in other ventures 8,345 9,255 11,250
Net sales (purchases) of other assets 0 0 (4,108)
Net proceeds from sale of RenaissanceRe UK 0 136,744 0
Net purchase of TMR 0 0 (276,206)
Net cash provided by (used in) investing activities (816,296) (2,304,689) (2,988,644)
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)
RenaissanceRe common share repurchases (1,027,505) (62,621) 0
RenaissanceRe common share issuance 0 1,095,507 0
Issuance of debt, net of expenses 0 0 396,411
Repayment of debt 0 (250,000) 0
Redemption of preference shares (275,000) (125,000) 0
Drawdown of Medici Revolving Credit Facility 30,000 0 0
Issuance of preference shares, net of expenses 488,653 0 0
Net third-party redeemable noncontrolling interest share transactions 594,279 119,071 827,083
Taxes paid on withholding shares (12,171) (12,330) (7,253)
Net cash provided by (used in) financing activities (302,461) 665,214 1,120,117
Effect of exchange rate changes on foreign currency cash 6,148 4,485 2,478
Net increase (decrease) in cash and cash equivalents 122,206 357,745 271,146
Cash and cash equivalents, beginning of year 1,736,813 1,379,068 1,107,922
Cash and cash equivalents, end of year 1,859,019 1,736,813 1,379,068
Supplemental Cash Flow Information      
Income taxes paid (refunded) (4,261) 5,668 9,749
Interest paid $ 21,172 $ 48,805 $ 53,220