XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows provided by (used in) operating activities    
Net income (loss) $ (1,853,149) $ (391,716)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities    
Amortization, accretion and depreciation (1,220) (16,420)
Equity in undistributed (earnings) losses of other ventures 16,802 13,800
Net realized and unrealized (gains) losses on investments 1,806,678 200,092
Change in:    
Premiums receivable (1,697,763) (1,247,268)
Prepaid reinsurance premiums (378,829) (313,974)
Reinsurance recoverable (700,575) (1,266,748)
Deferred acquisition costs and value of business acquired (331,996) (259,744)
Reserve for claims and claim expenses 2,368,325 2,852,106
Unearned premiums 1,514,937 1,275,947
Reinsurance balances payable 297,647 475,785
Other (170,369) (519,980)
Net cash provided by (used in) operating activities 870,488 801,880
Cash flows provided by (used in) investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 18,502,364 12,222,225
Purchases of fixed maturity investments trading (19,863,469) (12,957,889)
Net sales (purchases) of equity investments trading (337,110) 150,755
Net sales (purchases) of short term investments 365,790 363,895
Net sales (purchases) of other investments (452,447) (421,318)
Net sales (purchases) of investments in other ventures 617  
Net sales (purchases) of investments in other ventures   (20,908)
Return of investment from investment in other ventures 2,222 8,345
Net cash provided by (used in) investing activities (1,782,033) (654,895)
Cash flows provided by (used in) financing activities    
Dividends paid – RenaissanceRe common shares (48,576) (51,714)
Dividends paid – preference shares (26,587) (24,423)
RenaissanceRe common share repurchases (166,664) (704,465)
Issuance of preference shares, net of expenses 0 488,889
Net third-party redeemable noncontrolling interest share transactions 477,707 128,839
Taxes paid on withholding shares (10,891) (9,945)
Net cash provided by (used in) financing activities 224,989 (447,819)
Effect of exchange rate changes on foreign currency cash 31,778 4,755
Net increase (decrease) in cash and cash equivalents (654,778) (296,079)
Cash and cash equivalents, beginning of period 1,859,019 1,736,813
Cash and cash equivalents, end of period 1,204,241 1,440,734
Series E Preference Shares    
Cash flows provided by (used in) financing activities    
Redemption of 5.375% Series E preference shares $ 0 $ (275,000)