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Segment Reporting
 3 Months Ended
Mar. 31, 2022
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 (re)insurance written on behalf of the Company’s operating subsidiaries, joint ventures and managed funds, and (2) Casualty and Specialty, which is comprised of casualty and specialty (re)insurance written on behalf of the Company’s operating subsidiaries, 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 dispositions.
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 March 31, 2022PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,343,508 $1,599,456 $— $2,942,964 
Net premiums written$890,166 $1,275,051 $— $2,165,217 
Net premiums earned$618,591 $867,834 $— $1,486,425 
Net claims and claim expenses incurred259,761 581,972 — 841,733 
Acquisition expenses127,096 249,411 — 376,507 
Operational expenses46,932 20,975 — 67,907 
Underwriting income (loss)$184,802 $15,476 $— 200,278 
Net investment income83,691 83,691 
Net foreign exchange gains (losses)(15,486)(15,486)
Equity in earnings of other ventures(6,390)(6,390)
Other income (loss)1,193 1,193 
Net realized and unrealized gains (losses) on investments(673,017)(673,017)
Corporate expenses(12,502)(12,502)
Interest expense(11,955)(11,955)
Income (loss) before taxes and redeemable noncontrolling interests(434,188)
Income tax benefit (expense)36,707 36,707 
Net (income) loss attributable to redeemable noncontrolling interests11,912 11,912 
Dividends on preference shares(8,844)(8,844)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$(394,413)
Net claims and claim expenses incurred – current accident year$276,519 $583,047 $— $859,566 
Net claims and claim expenses incurred – prior accident years(16,758)(1,075)— (17,833)
Net claims and claim expenses incurred – total$259,761 $581,972 $— $841,733 
Net claims and claim expense ratio – current accident year44.7 %67.2 %57.8 %
Net claims and claim expense ratio – prior accident years(2.7)%(0.1)%(1.2)%
Net claims and claim expense ratio – calendar year42.0 %67.1 %56.6 %
Underwriting expense ratio28.1 %31.1 %29.9 %
Combined ratio70.1 %98.2 %86.5 %
Three months ended March 31, 2021PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,616,819 $1,035,623 $— $2,652,442 
Net premiums written$1,008,460 $815,623 $— $1,824,083 
Net premiums earned$605,166 $548,670 $— $1,153,836 
Net claims and claim expenses incurred498,832 368,219 — 867,051 
Acquisition expenses112,754 154,480 — 267,234 
Operational expenses35,375 19,936 — 55,311 
Underwriting income (loss)$(41,795)$6,035 $— (35,760)
Net investment income79,804 79,804 
Net foreign exchange gains (losses)(22,788)(22,788)
Equity in earnings of other ventures(5,558)(5,558)
Other income (loss)2,171 2,171 
Net realized and unrealized gains (losses) on investments(345,563)(345,563)
Corporate expenses(10,405)(10,405)
Interest expense(11,912)(11,912)
Income (loss) before taxes and redeemable noncontrolling interests(350,011)
Income tax benefit (expense)19,516 19,516 
Net (income) loss attributable to redeemable noncontrolling interests46,850 46,850 
Dividends on preference shares(7,289)(7,289)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$(290,934)
Net claims and claim expenses incurred – current accident year$503,994 $372,089 $— $876,083 
Net claims and claim expenses incurred – prior accident years(5,162)(3,870)— (9,032)
Net claims and claim expenses incurred – total$498,832 $368,219 $— $867,051 
Net claims and claim expense ratio – current accident year83.3 %67.8 %75.9 %
Net claims and claim expense ratio – prior accident years(0.9)%(0.7)%(0.8)%
Net claims and claim expense ratio – calendar year82.4 %67.1 %75.1 %
Underwriting expense ratio24.5 %31.8 %28.0 %
Combined ratio106.9 %98.9 %103.1 %