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SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting, Measurement Disclosures [Abstract]

Schedule of Significant Components of the Company's Revenues and Expenses by Segment

A summary of the significant components of the Company’s revenues and expenses by segment is as follows:

			Three months ended June 30, 2024			Property						Casualty and Specialty						Other						Total
			Gross premiums written			$	1,753,098					$	1,672,397					$	—					$	3,425,495
			Net premiums written			$	1,358,660					$	1,479,851					$	—					$	2,838,511
			Net premiums earned			$	980,834					$	1,560,481					$	—					$	2,541,315
			Net claims and claim expenses incurred			273,354						1,036,148						—						1,309,502
			Acquisition expenses			188,345						456,093						—						644,438
			Operational expenses			67,425						40,614						—						108,039
			Underwriting income (loss)			$	451,710					$	27,626					$	—					479,336
			Net investment income															410,845						410,845
			Net foreign exchange gains (losses)															(8,815)						(8,815)
			Equity in earnings of other ventures															12,590						12,590
			Other income (loss)															169						169
			Net realized and unrealized gains (losses) on investments															(127,584)						(127,584)
			Corporate expenses															(35,159)						(35,159)
			Interest expense															(23,609)						(23,609)
			Income (loss) before taxes and redeemable noncontrolling interests																					707,773
			Income tax benefit (expense)															20,848						20,848
			Net (income) loss attributable to redeemable noncontrolling interests															(224,731)						(224,731)
			Dividends on preference shares															(8,844)						(8,844)
			Net income (loss) available (attributable) to RenaissanceRe common shareholders																					$	495,046
			Net claims and claim expenses incurred – current accident year			$	357,745					$	1,060,028					$	—					$	1,417,773
			Net claims and claim expenses incurred – prior accident years			(84,391)						(23,880)						—						(108,271)
			Net claims and claim expenses incurred – total			$	273,354					$	1,036,148					$	—					$	1,309,502
			Net claims and claim expense ratio – current accident year			36.5		%				67.9		%										55.8		%
			Net claims and claim expense ratio – prior accident years			(8.6)		%				(1.5)		%										(4.3)		%
			Net claims and claim expense ratio – calendar year			27.9		%				66.4		%										51.5		%
			Underwriting expense ratio			26.0		%				31.8		%										29.6		%
			Combined ratio			53.9		%				98.2		%										81.1		%

			Six months ended June 30, 2024			Property						Casualty and Specialty						Other						Total
			Gross premiums written			$	3,642,979					$	3,773,200					$	—					$	7,416,179
			Net premiums written			$	2,756,278					$	3,281,806					$	—					$	6,038,084
			Net premiums earned			$	1,916,917					$	3,068,308					$	—					$	4,985,225
			Net claims and claim expenses incurred			427,603						2,048,022						—						2,475,625
			Acquisition expenses			374,127						901,232						—						1,275,359
			Operational expenses			129,049						85,174						—						214,223
			Underwriting income (loss)			$	986,138					$	33,880					$	—					1,020,018
			Net investment income															801,620						801,620
			Net foreign exchange gains (losses)															(44,498)						(44,498)
			Equity in earnings of other ventures															26,717						26,717
			Other income (loss)															119						119
			Net realized and unrealized gains (losses) on investments															(341,238)						(341,238)
			Corporate expenses															(74,411)						(74,411)
			Interest expense															(46,713)						(46,713)
			Income (loss) before taxes and redeemable noncontrolling interests																					1,341,614
			Income tax benefit (expense)															5,476						5,476
			Net (income) loss attributable to redeemable noncontrolling interests															(469,558)						(469,558)
			Dividends on preference shares															(17,688)						(17,688)
			Net income (loss) available (attributable) to RenaissanceRe common shareholders																					$	859,844
			Net claims and claim expenses incurred – current accident year			$	606,661					$	2,074,316					$	—					$	2,680,977
			Net claims and claim expenses incurred – prior accident years			(179,058)						(26,294)						—						(205,352)
			Net claims and claim expenses incurred – total			$	427,603					$	2,048,022					$	—					$	2,475,625
			Net claims and claim expense ratio – current accident year			31.6		%				67.6		%										53.8		%
			Net claims and claim expense ratio – prior accident years			(9.3)		%				(0.9)		%										(4.1)		%
			Net claims and claim expense ratio – calendar year			22.3		%				66.7		%										49.7		%
			Underwriting expense ratio			26.3		%				32.2		%										29.8		%
			Combined ratio			48.6		%				98.9		%										79.5		%

			Three months ended June 30, 2023			Property						Casualty and Specialty						Other						Total
			Gross premiums written			$	1,402,606					$	1,249,015					$	—					$	2,651,621
			Net premiums written			$	1,144,655					$	1,051,148					$	—					$	2,195,803
			Net premiums earned			$	758,686					$	1,026,576					$	—					$	1,785,262
			Net claims and claim expenses incurred			281,993						649,218						—						931,211
			Acquisition expenses			140,606						281,939						—						422,545
			Operational expenses			55,077						25,414						—						80,491
			Underwriting income (loss)			$	281,010					$	70,005					$	—					351,015
			Net investment income															292,662						292,662
			Net foreign exchange gains (losses)															(13,488)						(13,488)
			Equity in earnings of other ventures															7,700						7,700
			Other income (loss)															3,876						3,876
			Net realized and unrealized gains (losses) on investments															(222,781)						(222,781)
			Corporate expenses															(23,371)						(23,371)
			Interest expense															(14,895)						(14,895)
			Income (loss) before taxes and redeemable noncontrolling interests																					380,718
			Income tax benefit (expense)															(5,942)						(5,942)
			Net (income) loss attributable to redeemable noncontrolling interests															(174,907)						(174,907)
			Dividends on preference shares															(8,844)						(8,844)
			Net income (loss) available (attributable) to RenaissanceRe common shareholders																					$	191,025
			Net claims and claim expenses incurred – current accident year			$	313,632					$	649,677					$	—					$	963,309
			Net claims and claim expenses incurred – prior accident years			(31,639)						(459)						—						(32,098)
			Net claims and claim expenses incurred – total			$	281,993					$	649,218					$	—					$	931,211
			Net claims and claim expense ratio – current accident year			41.3		%				63.3		%										54.0		%
			Net claims and claim expense ratio – prior accident years			(4.1)		%				(0.1)		%										(1.8)		%
			Net claims and claim expense ratio – calendar year			37.2		%				63.2		%										52.2		%
			Underwriting expense ratio			25.8		%				30.0		%										28.1		%
			Combined ratio			63.0		%				93.2		%										80.3		%

			Six months ended June 30, 2023			Property						Casualty and Specialty						Other						Total
			Gross premiums written			$	2,706,805					$	2,735,077					$	—					$	5,441,882
			Net premiums written			$	2,164,484					$	2,295,022					$	—					$	4,459,506
			Net premiums earned			$	1,446,106					$	2,019,706					$	—					$	3,465,812
			Net claims and claim expenses incurred			469,602						1,262,809						—						1,732,411
			Acquisition expenses			285,925						568,877						—						854,802
			Operational expenses			110,890						47,075						—						157,965
			Underwriting income (loss)			$	579,689					$	140,945					$	—					720,634
			Net investment income															547,040						547,040
			Net foreign exchange gains (losses)															(27,991)						(27,991)
			Equity in earnings of other ventures															17,230						17,230
			Other income (loss)															(430)						(430)
			Net realized and unrealized gains (losses) on investments															56,670						56,670
			Corporate expenses															(36,214)						(36,214)
			Interest expense															(27,029)						(27,029)
			Income (loss) before taxes and redeemable noncontrolling interests																					1,249,910
			Income tax benefit (expense)															(34,844)						(34,844)
			Net (income) loss attributable to redeemable noncontrolling interests															(442,291)						(442,291)
			Dividends on preference shares															(17,688)						(17,688)
			Net income (loss) available (attributable) to RenaissanceRe common shareholders																					$	755,087
			Net claims and claim expenses incurred – current accident year			$	582,934					$	1,286,327					$	—					$	1,869,261
			Net claims and claim expenses incurred – prior accident years			(113,332)						(23,518)						—						(136,850)
			Net claims and claim expenses incurred – total			$	469,602					$	1,262,809					$	—					$	1,732,411
			Net claims and claim expense ratio – current accident year			40.3		%				63.7		%										53.9		%
			Net claims and claim expense ratio – prior accident years			(7.8)		%				(1.2)		%										(3.9)		%
			Net claims and claim expense ratio – calendar year			32.5		%				62.5		%										50.0		%
			Underwriting expense ratio			27.4		%				30.5		%										29.2		%
			Combined ratio			59.9		%				93.0		%										79.2		%

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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