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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows provided by (used in) operating activities    
Net income (loss) $ 1,347,090 $ 1,215,066
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Amortization, accretion and depreciation 25,989 (73,232)
Equity in undistributed (earnings) losses of other ventures 10,023 2,831
Net realized and unrealized (gains) losses on investments 293,806 (109,559)
Change in:    
Premiums receivable (1,511,719) (1,351,415)
Prepaid reinsurance premiums (509,190) (165,765)
Reinsurance recoverable 489,551 21,574
Deferred acquisition costs and value of business acquired (64,180) (129,254)
Reserve for claims and claim expenses 254,059 245,555
Unearned premiums 1,560,845 1,158,195
Reinsurance balances payable 201,310 (147,871)
Other (201,819) (39,451)
Net cash provided by (used in) operating activities 1,895,765 626,674
Cash flows provided by (used in) investing activities    
Proceeds from sales and maturities of fixed maturity investments trading 15,281,927 8,149,227
Purchases of fixed maturity investments trading (16,531,701) (9,719,075)
Proceeds from sales of equity investments 29 548,086
Purchases of equity investments (215) (1,687)
Proceeds from sales of short term investments 16,020,340 17,410,561
Purchases of short term investments (15,732,094) (19,067,333)
Proceeds from sales of other investments 614,583 260,173
Purchases of other investments (883,740) (750,539)
Purchases of investments in other ventures (53,237) (13,048)
Return of investment from investment in other ventures 500 2,369
Net cash provided by (used in) investing activities (1,283,608) (3,181,266)
Cash flows provided by (used in) financing activities    
Dividends paid – RenaissanceRe common shares (40,898) (35,992)
Dividends paid – preference shares (17,688) (17,688)
RenaissanceRe common share issuance, net of expenses 0 1,352,583
RenaissanceRe common share repurchases (108,534) 0
Issuance of debt, net of expenses 0 741,597
Repayment of Medici Revolving Credit Facility (75,000) (30,000)
Drawdown of Medici Revolving Credit Facility 75,000 0
Subscriptions of third-party redeemable noncontrolling interest shares 92,438 405,277
Redemptions of third-party redeemable noncontrolling interest shares (757,616) (95,142)
Taxes paid on withholding shares (21,442) (18,837)
Net cash provided by (used in) financing activities (853,740) 2,301,798
Effect of exchange rate changes on foreign currency cash (8,788) 2,390
Net increase (decrease) in cash and cash equivalents (250,371) (250,404)
Cash and cash equivalents, beginning of period 1,877,518 1,194,339
Cash and cash equivalents, end of period $ 1,627,147 $ 943,935