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SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2024
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 consolidated 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 consolidated operating subsidiaries, joint ventures and managed funds. In addition to its reportable segments, the Company has an Other category, which primarily includes its investments unit, strategic investments, corporate expenses, capital servicing costs, noncontrolling interests and certain expenses related to acquisitions and dispositions.
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, 2024PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,889,881 $2,100,803 $— $3,990,684 
Net premiums written$1,397,618 $1,801,955 $— $3,199,573 
Net premiums earned$936,083 $1,507,827 $— $2,443,910 
Net claims and claim expenses incurred154,249 1,011,874 — 1,166,123 
Acquisition expenses185,782 445,139 — 630,921 
Operational expenses61,624 44,560 — 106,184 
Underwriting income (loss)$534,428 $6,254 $— 540,682 
Net investment income390,775 390,775 
Net foreign exchange gains (losses)(35,683)(35,683)
Equity in earnings of other ventures14,127 14,127 
Other income (loss)(50)(50)
Net realized and unrealized gains (losses) on investments(213,654)(213,654)
Corporate expenses(39,252)(39,252)
Interest expense(23,104)(23,104)
Income (loss) before taxes and redeemable noncontrolling interests633,841 
Income tax benefit (expense)(15,372)(15,372)
Net (income) loss attributable to redeemable noncontrolling interests(244,827)(244,827)
Dividends on preference shares(8,844)(8,844)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$364,798 
Net claims and claim expenses incurred – current accident year$248,916 $1,014,288 $— $1,263,204 
Net claims and claim expenses incurred – prior accident years(94,667)(2,414)— (97,081)
Net claims and claim expenses incurred – total$154,249 $1,011,874 $— $1,166,123 
Net claims and claim expense ratio – current accident year26.6 %67.3 %51.7 %
Net claims and claim expense ratio – prior accident years(10.1)%(0.2)%(4.0)%
Net claims and claim expense ratio – calendar year16.5 %67.1 %47.7 %
Underwriting expense ratio26.4 %32.5 %30.2 %
Combined ratio42.9 %99.6 %77.9 %
Three months ended March 31, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$1,304,199 $1,486,062 $— $2,790,261 
Net premiums written$1,019,829 $1,243,874 $— $2,263,703 
Net premiums earned$687,420 $993,130 $— $1,680,550 
Net claims and claim expenses incurred187,609 613,591 — 801,200 
Acquisition expenses145,319 286,938 — 432,257 
Operational expenses55,813 21,661 — 77,474 
Underwriting income (loss)$298,679 $70,940 $— 369,619 
Net investment income254,378 254,378 
Net foreign exchange gains (losses)(14,503)(14,503)
Equity in earnings of other ventures9,530 9,530 
Other income (loss)(4,306)(4,306)
Net realized and unrealized gains (losses) on investments279,451 279,451 
Corporate expenses(12,843)(12,843)
Interest expense(12,134)(12,134)
Income (loss) before taxes and redeemable noncontrolling interests869,192 
Income tax benefit (expense)(28,902)(28,902)
Net (income) loss attributable to redeemable noncontrolling interests(267,384)(267,384)
Dividends on preference shares(8,844)(8,844)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$564,062 
Net claims and claim expenses incurred – current accident year$269,302 $636,650 $— $905,952 
Net claims and claim expenses incurred – prior accident years(81,693)(23,059)— (104,752)
Net claims and claim expenses incurred – total$187,609 $613,591 $— $801,200 
Net claims and claim expense ratio – current accident year39.2 %64.1 %53.9 %
Net claims and claim expense ratio – prior accident years(11.9)%(2.3)%(6.2)%
Net claims and claim expense ratio – calendar year27.3 %61.8 %47.7 %
Underwriting expense ratio29.3 %31.1 %30.3 %
Combined ratio56.6 %92.9 %78.0 %