XML 30 R19.htm IDEA: XBRL DOCUMENT v3.25.3
SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2025
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’s reportable segments each have executive leadership who are responsible for the overall performance of their respective segments and who are directly accountable to the Company’s chief operating decision maker (“CODM”), the Chief Executive Officer of RenaissanceRe, who is ultimately responsible for reviewing the business to assess performance, make operating decisions and allocate resources. The Company reports the results of its operations consistent with the manner in which the CODM reviews the business.
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 September 30, 2025PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$733,274 $1,590,352 $— $2,323,626 
Net premiums written$694,125 $1,363,677 $— $2,057,802 
Net premiums earned$936,933 $1,496,872 $— $2,433,805 
Net claims and claim expenses incurred(133,504)1,012,324 — 878,820 
Acquisition expenses192,347 467,376 — 659,723 
Operational expenses86,579 38,494 — 125,073 
Underwriting income (loss)$791,511 $(21,322)$— 770,189 
Net investment income438,354 438,354 
Net foreign exchange gains (losses)877 877 
Equity in earnings (losses) of other ventures12,551 12,551 
Other income (loss)705 705 
Net realized and unrealized gains (losses) on investments311,890 311,890 
Corporate expenses(23,414)(23,414)
Interest expense(30,582)(30,582)
Income (loss) before taxes1,480,570 
Income tax benefit (expense)(148,860)(148,860)
Net (income) loss attributable to redeemable noncontrolling interests(415,200)(415,200)
Dividends on preference shares(8,843)(8,843)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$907,667 
Net claims and claim expenses incurred – current accident year$250,169 $1,008,702 $— $1,258,871 
Net claims and claim expenses incurred – prior accident years(383,673)3,622 — (380,051)
Net claims and claim expenses incurred – total$(133,504)$1,012,324 $— $878,820 
Net claims and claim expense ratio – current accident year26.7 %67.4 %51.7 %
Net claims and claim expense ratio – prior accident years(40.9)%0.2 %(15.6)%
Net claims and claim expense ratio – calendar year(14.2)%67.6 %36.1 %
Underwriting expense ratio29.7 %33.8 %32.3 %
Combined ratio15.5 %101.4 %68.4 %
Nine months ended September 30, 2025PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$4,596,042 $5,304,267 $— $9,900,309 
Net premiums written$3,710,676 $4,560,925 $— $8,271,601 
Net premiums earned$3,052,893 $4,513,847 $— $7,566,740 
Net claims and claim expenses incurred1,481,823 3,182,878 — 4,664,701 
Acquisition expenses534,192 1,415,571 — 1,949,763 
Operational expenses222,414 128,582 — 350,996 
Underwriting income (loss)$814,464 $(213,184)$— 601,280 
Net investment income1,256,815 1,256,815 
Net foreign exchange gains (losses)2,209 2,209 
Equity in earnings of other ventures50,712 50,712 
Other income (loss)4,243 4,243 
Net realized and unrealized gains (losses) on investments994,550 994,550 
Corporate expenses(70,005)(70,005)
Interest expense(89,461)(89,461)
Income (loss) before taxes and redeemable noncontrolling interests2,750,343 
Income tax benefit (expense)(280,204)(280,204)
Net (income) loss attributable to redeemable noncontrolling interests(548,287)(548,287)
Dividends on preference shares(26,531)(26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$1,895,321 
Net claims and claim expenses incurred – current accident year$2,319,130 $3,191,206 $— $5,510,336 
Net claims and claim expenses incurred – prior accident years(837,307)(8,328)— (845,635)
Net claims and claim expenses incurred – total$1,481,823 $3,182,878 $— $4,664,701 
Net claims and claim expense ratio – current accident year76.0 %70.7 %72.8 %
Net claims and claim expense ratio – prior accident years(27.5)%(0.2)%(11.2)%
Net claims and claim expense ratio – calendar year48.5 %70.5 %61.6 %
Underwriting expense ratio24.8 %34.2 %30.5 %
Combined ratio73.3 %104.7 %92.1 %
Three months ended September 30, 2024PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$790,709 $1,609,427 $— $2,400,136 
Net premiums written$701,222 $1,461,282 $— $2,162,504 
Net premiums earned$994,777 $1,588,192 $— $2,582,969 
Net claims and claim expenses incurred329,967 1,043,647 — 1,373,614 
Acquisition expenses192,439 497,899 — 690,338 
Operational expenses77,688 47,573 — 125,261 
Underwriting income (loss)$394,683 $(927)$— 393,756 
Net investment income423,859 423,859 
Net foreign exchange gains (losses)16,804 16,804 
Equity in earnings (losses) of other ventures5,718 5,718 
Other income (loss)680 680 
Net realized and unrealized gains (losses) on investments943,745 943,745 
Corporate expenses(26,078)(26,078)
Interest expense(23,809)(23,809)
Income (loss) before taxes1,734,675 
Income tax benefit (expense)(102,012)(102,012)
Net (income) loss attributable to redeemable noncontrolling interests(450,176)(450,176)
Dividends on preference shares(8,843)(8,843)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$1,173,644 
Net claims and claim expenses incurred – current accident year$621,710 $1,044,410 $— $1,666,120 
Net claims and claim expenses incurred – prior accident years(291,743)(763)— (292,506)
Net claims and claim expenses incurred – total$329,967 $1,043,647 $— $1,373,614 
Net claims and claim expense ratio – current accident year62.5 %65.8 %64.5 %
Net claims and claim expense ratio – prior accident years(29.3)%(0.1)%(11.3)%
Net claims and claim expense ratio – calendar year33.2 %65.7 %53.2 %
Underwriting expense ratio27.1 %34.4 %31.6 %
Combined ratio60.3 %100.1 %84.8 %
Nine months ended September 30, 2024PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$4,433,688 $5,382,627 $— $9,816,315 
Net premiums written$3,457,500 $4,743,088 $— $8,200,588 
Net premiums earned$2,911,694 $4,656,500 $— $7,568,194 
Net claims and claim expenses incurred757,570 3,091,669 — 3,849,239 
Acquisition expenses566,566 1,399,131 — 1,965,697 
Operational expenses206,737 132,747 — 339,484 
Underwriting income (loss)$1,380,821 $32,953 $— 1,413,774 
Net investment income1,225,479 1,225,479 
Net foreign exchange gains (losses)(27,694)(27,694)
Equity in earnings of other ventures32,435 32,435 
Other income (loss)799 799 
Net realized and unrealized gains (losses) on investments602,507 602,507 
Corporate expenses(100,489)(100,489)
Interest expense(70,522)(70,522)
Income (loss) before taxes and redeemable noncontrolling interests3,076,289 
Income tax benefit (expense)(96,536)(96,536)
Net (income) loss attributable to redeemable noncontrolling interests(919,734)(919,734)
Dividends on preference shares(26,531)(26,531)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$2,033,488 
Net claims and claim expenses incurred – current accident year$1,228,371 $3,118,726 $— $4,347,097 
Net claims and claim expenses incurred – prior accident years(470,801)(27,057)— (497,858)
Net claims and claim expenses incurred – total$757,570 $3,091,669 $— $3,849,239 
Net claims and claim expense ratio – current accident year42.2 %67.0 %57.4 %
Net claims and claim expense ratio – prior accident years(16.2)%(0.6)%(6.5)%
Net claims and claim expense ratio – calendar year26.0 %66.4 %50.9 %
Underwriting expense ratio26.6 %32.9 %30.4 %
Combined ratio52.6 %99.3 %81.3 %