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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Gross premiums written $ 2,220,661 $ 1,774,180 $ 7,628,264 $ 6,520,780
Net premiums written 1,821,711 1,486,440 5,850,544 4,822,815
Decrease (increase) in unearned premiums (54,690) 19,825 (1,140,715) (969,924)
Net premiums earned 1,767,021 1,506,265 4,709,829 3,852,891
Net investment income 157,793 78,267 348,695 238,996
Net foreign exchange gains (losses) (1,383) (4,755) (67,690) (24,309)
Equity in earnings (losses) of other ventures 1,739 5,305 2,732 8,479
Other income (loss) 2,834 1,692 4,950 4,449
Net realized and unrealized gains (losses) on investments (641,500) (42,071) (1,968,624) (196,616)
Total revenues 1,286,504 1,544,703 3,029,892 3,883,890
Expenses        
Net claims and claim expenses incurred 1,967,931 1,798,045 3,515,903 3,185,117
Acquisition expenses 417,644 328,048 1,155,389 880,872
Operational expenses 64,560 58,997 204,987 172,511
Corporate expenses 10,384 10,196 35,238 30,726
Interest expense 12,101 11,919 35,951 35,664
Total expenses 2,472,620 2,207,205 4,947,468 4,304,890
Income (loss) before taxes (1,186,116) (662,502) (1,917,576) (421,000)
Income tax benefit (expense) (2,814) 23,630 64,427 29,284
Net income (loss) (1,188,930) (638,872) (1,853,149) (391,716)
Net (income) loss attributable to redeemable noncontrolling interests 372,429 198,495 335,010 131,801
Net income (loss) attributable to RenaissanceRe (816,501) (440,377) (1,518,139) (259,915)
Dividends on preference shares (8,843) (9,845) (26,531) (24,423)
Net income (loss) available (attributable) to RenaissanceRe common shareholders $ (825,344) $ (450,222) $ (1,544,670) $ (284,338)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – basic (in dollars per share) $ (19.27) $ (9.75) $ (35.84) $ (5.94)
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share – diluted (in dollars per share) (19.27) (9.75) (35.84) (5.94)
Dividends per common share (in dollars per share) $ 0.37 $ 0.36 $ 1.11 $ 1.08