Document and Entity Information
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6 Months Ended | |
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Jun. 30, 2014
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Jul. 28, 2014
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Document And Entity Information [Abstract] | ||
Entity Registrant Name | RENAISSANCERE HOLDINGS LTD. | |
Trading Symbol | RNR | |
Entity Central Index Key | 0000913144 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2014 | |
Document Fiscal Year Focus | 2014 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 40,520,691 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount payable to broker-dealers and clearing organizations, including, but not limited to, securities failed-to-receive, certain deposits received for securities loaned, open transactions, and floor-brokerage payables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount receivable from broker-dealers and clearing organizations, including, but not limited to, securities failed-to-deliver, certain deposits for securities borrowed, open transactions, good faith and margin deposits, commissions and floor brokerage receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount as of the balance sheet date of the known and estimated amounts owed to insurers under reinsurance treaties or other arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after valuation allowance recoverable including premium paid under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of investments in debt securities classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair value of investments in trading equity securities and other forms of trading securities that provide ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jun. 30, 2014
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Dec. 31, 2013
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Statement of Financial Position [Abstract] | ||
Fixed maturity investments trading, amortized cost | $ 4,754,480 | $ 4,781,712 |
Fixed maturity investments available for sale, amortized cost | $ 25,512 | $ 30,273 |
Preference Shares, Par Value (In dollars per share) | $ 1 | $ 1 |
Preference Shares, Shares issued (In shares) | 16,000,000 | 16,000,000 |
Preference Shares, Shares outstanding (In shares) | 16,000,000 | 16,000,000 |
Common Shares, Par Value (In dollars per share) | $ 1 | $ 1 |
Common Shares, Shares issued (In shares) | 40,522,818 | 43,646,436 |
Common Shares, Shares outstanding (In shares) | 40,522,818 | 43,646,436 |
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- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Cost of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. No definition available.
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- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expense related to deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of decrease (increase) in unearned premiums. No definition available.
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of direct and assumed premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2014
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Jun. 30, 2013
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Jun. 30, 2014
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Jun. 30, 2013
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Comprehensive income (loss) | ||||
Net income | $ 162,426 | $ 48,304 | $ 361,792 | $ 283,660 |
Change in net unrealized gains on investments | (45) | (1,141) | (213) | (8,713) |
Comprehensive income | 162,381 | 47,163 | 361,579 | 274,947 |
Net income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) |
Comprehensive income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) |
Comprehensive income attributable to RenaissanceRe | 126,303 | 33,148 | 282,733 | 222,325 |
Disclosure regarding net unrealized gains | ||||
Total realized and net unrealized holding (gains) losses on investments and net other-than-temporary impairments | (45) | 178 | (213) | (1,533) |
Net realized gains on fixed maturity investments available for sale | 0 | (1,319) | 0 | (7,180) |
Change in net unrealized gains on investments | $ (45) | $ (1,141) | $ (213) | $ (8,713) |
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- Definition
Other Comprehensive Income (Loss) Adjustment For Net Realized and Unrealized Holding Gains (Losses) on Investments and Net Other Than Temporary Impairments, Portion Attributable To Parent No definition available.
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- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount after tax of income (loss) attributable to other redeemable noncontrolling equity holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities, attributable to parent entity. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of decrease in additional paid in capital (APIC) resulting from direct costs associated with issuing stock. Includes, but is not limited to, legal and accounting fees and direct costs associated with stock issues under a shelf registration. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Net Increase or Decrease in balance of noncontrolling interest in the subsidiary during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities, attributable to parent entity. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. No definition available.
|
X | ||||||||||
- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Gain Loss On Investments Including Discontinued Operations No definition available.
|
X | ||||||||||
- Definition
The net cash inflow (outflow) associated with the acquisition or disposal of other investments during the period. No definition available.
|
X | ||||||||||
- Definition
The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is one year or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the balance sheet value of capitalized sales costs that are associated with acquiring a new insurance customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The change in the premium receivable balance on the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The change in prepaid reinsurance premiums recorded on the balance sheet, which is needed to adjust net income to arrive at net cash flows provided by or used in operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amount due to other insurance companies when the reporting entity has assumed a portion of the cedant's insurance risk which has resulted in insurance losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amount of benefits the ceding insurer expects to recover on insurance policies ceded to other insurance entities as of the balance sheet date for all guaranteed benefit types. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) unearned premiums written. Excludes portion of unearned premiums amortized into income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of the other adjustment made to the claims reserves during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Increase (decrease) in cash associated with the entity's discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow during the period for redemption of redeemable noncontrolling interests. No definition available.
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to preferred shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from sales and purchases of trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the sale, maturities, repayments and calls of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of unrealized gain (loss) recognized in the income statement on unsold other securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Organization
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6 Months Ended | ||||||||||||||||||||||||||||
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Jun. 30, 2014
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||
Organization | ORGANIZATION This report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended December 31, 2013. RenaissanceRe Holdings Ltd. (“RenaissanceRe”) was formed under the laws of Bermuda on June 7, 1993. Together with its wholly owned and majority-owned subsidiaries and DaVinciRe (as defined below), which are collectively referred to herein as the “Company”, RenaissanceRe provides reinsurance and insurance coverages and related services to a broad range of customers.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies
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6 Months Ended |
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Jun. 30, 2014
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Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES There have been no material changes to the Company’s significant accounting policies as described in its Form 10-K for the year ended December 31, 2013, except as noted below. BASIS OF PRESENTATION The consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated from these statements. Except as discussed in “Note 3. Discontinued Operations,” and unless otherwise noted, the notes to the consolidated financial statements reflect the Company’s continuing operations. Certain comparative information has been reclassified to conform to the current presentation. Because of the seasonality of the Company’s business, the results of operations and cash flows for any interim period will not necessarily be indicative of the results of operations and cash flows for the full fiscal year or subsequent quarters. USE OF ESTIMATES IN FINANCIAL STATEMENTS The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses; reinsurance recoverables, including allowances for reinsurance recoverables deemed uncollectible; estimates of written and earned premiums; fair value, including the fair value of investments, financial instruments and derivatives; impairment charges and the Company’s deferred tax valuation allowance. DISCONTINUED OPERATIONS The results of operations of REAL, which has been sold to an unaffiliated third party, is classified as held for sale and reported as discontinued operations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic Discontinued Operations. The consolidated financial statements and notes thereto are presented excluding the operations and cash flows of the discontinued operations from the continuing operations of the Company since the Company will not have any significant continuing involvement in the operations after the sale. The financial position and results of operations of discontinued operations are presented as single line items on the consolidated balance sheets and statements of operations, respectively. Certain prior year comparatives have been reclassified to conform to the current year presentation. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). The objective of ASU 2013-11 is to improve the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 seeks to reduce the diversity in practice by providing guidance on the presentation of unrecognized tax benefits to better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. ASU 2013-11 became effective for annual and interim reporting periods beginning after December 15, 2013. The Company prospectively adopted ASU 2013-11 effective January 1, 2014 and the adoption of this guidance did not have a material impact on the Company’s consolidated statements of operations and financial position. Financial Services - Investment Companies (Topic 946) Amendments to the Scope, Measurement, and Disclosure Requirements In June 2013, the FASB issued ASU No. 2013-08, Amendments to the Scope, Measurement, and Disclosure Requirements (“ASU 2013-08”). The objective of ASU 2013-08 is to change the approach to the investment company assessment, clarify the characteristics of an investment company and provide comprehensive guidance for assessing whether an entity is an investment company. In addition, ASU 2013-08 will require an investment company to measure noncontrolling ownership interests in other investment companies at fair value rather than using the equity method of accounting and require the following additional disclosures: (a) the fact that the entity is an investment company and is applying the guidance, (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. ASU 2013-08 became effective for annual and interim reporting periods beginning after December 15, 2013. The Company prospectively adopted ASU 2013-08 effective January 1, 2014 and the adoption of this guidance did not have a material impact on the Company’s consolidated statements of operations and financial position. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The objective of ASU 2014-08 is to improve the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. ASU 2014-08 will also require expanded disclosures for discontinued operations and require an entity to disclose the pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. ASU 2014-08 is prospectively effective for public business entities in annual periods beginning on or after December 15, 2014, and interim periods beginning on or after December 15, 2015. Entities may early adopt ASU 2014-08 for new disposals that have not been reported in the consolidated financial statements previously issued or available for issuance. The Company is currently evaluating the impact of this guidance; however, it is not expected to have a material impact on the Company’s consolidated statements of operations and financial position. |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations
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Jun. 30, 2014
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued Operations | DISCONTINUED OPERATIONS REAL On August 30, 2013, RenaissanceRe entered into a purchase agreement with Munich to sell REAL and, on October 1, 2013, RenaissanceRe closed the sale of REAL to Munich. In the third quarter of 2013, the Company classified the assets and liabilities associated with this transaction as held for sale and the financial results are reflected in the Company’s consolidated financial statements as “discontinued operations.” Consideration for the transaction was $60.0 million, paid in cash at closing, subject to post-closing adjustments for certain tax and other items. The Company recorded a loss on sale of $8.8 million in the third quarter of 2013 in conjunction with the sale, including related direct expenses. Except as explicitly described as held for sale or as discontinued operations, and unless otherwise noted, all discussions and amounts presented herein relate to the Company’s continuing operations. All prior periods presented have been reclassified to conform to this form of presentation. The Company did not have any assets, liabilities or shareholder’s equity of discontinued operations held for sale related to REAL at June 30, 2014 or December 31, 2013. Details of the income from discontinued operations for the three and six months ended June 30, 2014 and 2013 are as follows and relate entirely to REAL:
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments
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Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments | INVESTMENTS Fixed Maturity Investments Trading The following table summarizes the fair value of fixed maturity investments trading:
Fixed Maturity Investments Available For Sale The following table summarizes the amortized cost, fair value and related unrealized gains and losses and non-credit other-than-temporary impairments of fixed maturity investments available for sale:
Contractual maturities of fixed maturity investments are as follows. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Equity Investments Trading The following table summarizes the fair value of equity investments trading:
Pledged Investments At June 30, 2014, $2,036.3 million of cash and investments at fair value were on deposit with, or in trust accounts for the benefit of various counterparties, including with respect to the Company’s syndicated letter of credit facility and bilateral letter of credit facility (December 31, 2013 - $2,081.1 million). Of this amount, $673.9 million is on deposit with, or in trust accounts for the benefit of, U.S. state regulatory authorities (December 31, 2013 - $652.8 million). Reverse Repurchase Agreements At June 30, 2014, the Company held $35.9 million (December 31, 2013 - $37.3 million) of reverse repurchase agreements. These loans are fully collateralized, are generally outstanding for a short period of time and are presented on a gross basis as part of short term investments on the Company’s consolidated balance sheets. The required collateral for these loans typically include high-quality, readily marketable instruments at a minimum rate of 102% of the loan principal. Upon maturity, the Company receives principal and interest income. Net Investment Income, Net Realized and Unrealized Gains on Investments and Net Other-Than-Temporary Impairments The components of net investment income are as follows:
The following table provides an analysis of the components of net realized and unrealized gains on investments.
The following tables provide an analysis of the components of other comprehensive income and reclassifications out of accumulated other comprehensive income.
The following tables provide an analysis of the length of time the Company’s fixed maturity investments available for sale in an unrealized loss have been in a continual unrealized loss position.
At June 30, 2014, the Company held two fixed maturity investments available for sale securities that were in an unrealized loss position (December 31, 2013 - four), including two fixed maturity investments available for sale securities that were in an unrealized loss position for twelve months or greater (December 31, 2013 - two). The Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. The Company performed reviews of its fixed maturity investments available for sale for the six months ended June 30, 2014 and 2013, respectively, in order to determine whether declines in the fair value below the amortized cost basis were considered other-than-temporary in accordance with the applicable guidance, as discussed below. Other-Than-Temporary Impairment Process The Company’s process for assessing whether declines in the fair value of its fixed maturity investments available for sale represent impairments that are other-than-temporary includes reviewing each fixed maturity investment available for sale that is impaired and determining: (i) if the Company has the intent to sell the debt security or (ii) if it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery; and (iii) whether a credit loss exists, that is, where the Company expects that the present value of the cash flows expected to be collected from the security is less than the amortized cost basis of the security. For the six months ended June 30, 2014, the Company recognized $Nil of other-than-temporary impairments which were recognized in earnings and $Nil related to other factors which were recognized in other comprehensive income (2013 – $Nil and $Nil, respectively). The following table provides a rollforward of the amount of other-than-temporary impairments related to credit losses recognized in earnings for which a portion of an other-than-temporary impairment was recognized in accumulated other comprehensive income:
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The entire disclosure for investments in certain debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS The use of fair value to measure certain assets and liabilities with resulting unrealized gains or losses is pervasive within the Company’s consolidated financial statements. Fair value is defined under accounting guidance currently applicable to the Company to be the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between open market participants at the measurement date. The Company recognizes the change in unrealized gains and losses arising from changes in fair value in its consolidated statements of operations, with the exception of changes in unrealized gains and losses on its fixed maturity investments available for sale, which are recognized as a component of accumulated other comprehensive income in shareholders’ equity. FASB ASC Topic Fair Value Measurements and Disclosures prescribes a fair value hierarchy that prioritizes the inputs to the respective valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to valuation techniques that use at least one significant input that is unobservable (Level 3). The three levels of the fair value hierarchy are described below:
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement of the asset or liability. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and the Company considers factors specific to the asset or liability. In order to determine if a market is active or inactive for a security, the Company considers a number of factors, including, but not limited to, the spread between what a seller is asking for a security and what a buyer is bidding for the same security, the volume of trading activity for the security in question, the price of the security compared to its par value (for fixed maturity investments), and other factors that may be indicative of market activity. There have been no material changes in the Company’s valuation techniques, nor have there been any transfers between Level 1 and Level 2, and transfers into or out of Level 3, respectively, during the period represented by these consolidated financial statements. Below is a summary of the assets and liabilities that are measured at fair value on a recurring basis and also represents the carrying amount on the Company’s consolidated balance sheets:
(1) See “Note 12. Derivative Instruments” for additional information related to the fair value by type of contract, of derivatives entered into by the Company.
(1) See “Note 12. Derivative Instruments” for additional information related to the fair value by type of contract, of derivatives entered into by the Company. Level 1 and Level 2 Assets and Liabilities Measured at Fair Value Fixed Maturity Investments Fixed maturity investments included in Level 1 consist of the Company’s investments in U.S. treasuries. Fixed maturity investments included in Level 2 are agencies, non-U.S. government, non-U.S. government-backed corporate, corporate, agency mortgage-backed, non-agency mortgage-backed, commercial mortgage-backed and asset-backed. The Company’s fixed maturity investments are primarily priced using pricing services, such as index providers and pricing vendors, as well as broker quotations. In general, the pricing vendors provide pricing for a high volume of liquid securities that are actively traded. For securities that do not trade on an exchange, the pricing services generally utilize market data and other observable inputs in matrix pricing models to determine month end prices. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, bids, offers, reference data and industry and economic events. Index pricing generally relies on market traders as the primary source for pricing, however models are also utilized to provide prices for all index eligible securities. The models use a variety of observable inputs such as benchmark yields, transactional data, dealer runs, broker-dealer quotes and corporate actions. Prices are generally verified using third party data. Securities which are priced by an index provider are generally included in the index. In general, broker-dealers value securities through their trading desks based on observable inputs. The methodologies include mapping securities based on trade data, bids or offers, observed spreads, and performance on newly issued securities. Broker-dealers also determine valuations by observing secondary trading of similar securities. Prices obtained from broker quotations are considered non-binding, however they are based on observable inputs and by observing secondary trading of similar securities obtained from active, non-distressed markets. The Company considers these Level 2 inputs as they are corroborated with other market observable inputs. The techniques generally used to determine the fair value of the Company’s fixed maturity investments are detailed below by asset class. U.S. treasuries Level 1 - At June 30, 2014, the Company’s U.S. treasuries fixed maturity investments are primarily priced by pricing services and had a weighted average effective yield of 0.9% and a weighted average credit quality of AA (December 31, 2013 - 0.8% and AA, respectively). When pricing these securities, the pricing services utilize daily data from many real time market sources, including active broker dealers. Certain data sources are regularly reviewed for accuracy to attempt to ensure the most reliable price source is used for each issue and maturity date. Agencies Level 2 - At June 30, 2014, the Company’s agency fixed maturity investments had a weighted average effective yield of 1.4% and a weighted average credit quality of AA (December 31, 2013 - 1.3% and AA, respectively). The issuers of the Company’s agency fixed maturity investments primarily consist of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and other agencies. Fixed maturity investments included in agencies are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources and integrate other observations from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The fair value of each security is individually computed using analytical models which incorporate option adjusted spreads and other daily interest rate data. Non-U.S. government (Sovereign debt) Level 2 - Non-U.S. government fixed maturity investments held by the Company at June 30, 2014 had a weighted average effective yield of 1.2% and a weighted average credit quality of AA (December 31, 2013 - 1.3% and AA, respectively). The issuers of securities in this sector are non-U.S. governments and their respective agencies as well as supranational organizations. Securities held in these sectors are primarily priced by pricing services who employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets. Non-U.S. government-backed corporate Level 2 - Non-U.S. government-backed corporate fixed maturity investments had a weighted average effective yield of 1.3% and a weighted average credit quality of AAA at June 30, 2014 (December 31, 2013 - 1.1% and AAA, respectively). Non-U.S. government-backed fixed maturity investments are primarily priced by pricing services who employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread to the respective curve for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets. Corporate Level 2 - At June 30, 2014, the Company’s corporate fixed maturity investments principally consist of U.S. and international corporations and had a weighted average effective yield of 2.7% and a weighted average credit quality of BBB (December 31, 2013 - 2.7% and BBB, respectively). The Company’s corporate fixed maturity investments are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources regarding the issuer of the security and obtain credit data, as well as other observations, from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The pricing services also consider the specific terms and conditions of the securities, including any specific features which may influence risk. In certain instances, securities are individually evaluated using a spread which is added to the U.S. treasury curve or a security specific swap curve as appropriate. Agency mortgage-backed Level 2 - At June 30, 2014, the Company’s agency mortgage-backed fixed maturity investments included agency residential mortgage-backed securities with a weighted average effective yield of 2.2%, a weighted average credit quality of AA and a weighted average life of 5.2 years (December 31, 2013 - 2.9%, AA and 6.2 years, respectively). The Company’s agency mortgage-backed fixed maturity investments are primarily priced by pricing services using a mortgage pool specific model which utilizes daily inputs from the active to be announced market which is very liquid, as well as the U.S. treasury market. The model also utilizes additional information, such as the weighted average maturity, weighted average coupon and other available pool level data which is provided by the sponsoring agency. Valuations are also corroborated with daily active market quotes. Non-agency mortgage-backed Level 2 - The Company’s non-agency mortgage-backed fixed maturity investments include non-agency prime residential mortgage-backed and non-agency Alt-A fixed maturity investments. The Company has no fixed maturity investments classified as sub-prime held in its fixed maturity investments portfolio. At June 30, 2014, the Company’s non-agency prime residential mortgage-backed fixed maturity investments have a weighted average effective yield of 3.2%, a weighted average credit quality of non-investment grade, and a weighted average life of 4.3 years (December 31, 2013 - 3.7%, BBB and 4.4 years, respectively). The Company’s non-agency Alt-A fixed maturity investments held at June 30, 2014 have a weighted average effective yield of 4.0%, a weighted average credit quality of non-investment grade and a weighted average life of 4.5 years (December 31, 2013 - 4.7%, non-investment grade and 4.0 years, respectively). Securities held in these sectors are primarily priced by pricing services using an option adjusted spread model or other relevant models, which principally utilize inputs including benchmark yields, available trade information or broker quotes, and issuer spreads. The pricing services also review collateral prepayment speeds, loss severity and delinquencies among other collateral performance indicators for the securities valuation, when applicable. Commercial mortgage-backed Level 2 - The Company’s commercial mortgage-backed fixed maturity investments held at June 30, 2014 have a weighted average effective yield of 2.0%, a weighted average credit quality of AA, and a weighted average life of 3.9 years (December 31, 2013 - 2.1%, AA and 3.3 years, respectively). Securities held in these sectors are primarily priced by pricing services. The pricing services apply dealer quotes and other available trade information such as bid and offers, prepayment speeds which may be adjusted for the underlying collateral or current price data, the U.S. treasury curve and swap curve as well as cash settlement. The pricing services discount the expected cash flows for each security held in this sector using a spread adjusted benchmark yield based on the characteristics of the security. Asset-backed Level 2 - At June 30, 2014, the Company’s asset-backed fixed maturity investments had a weighted average effective yield of 1.3%, a weighted average credit quality of AAA and a weighted average life of 2.4 years (December 31, 2013 - 2.0%, AAA and 3.5 years, respectively). The underlying collateral for the Company’s asset-backed fixed maturity investments primarily consists of student loans, credit card receivables, auto loans and other receivables. Securities held in these sectors are primarily priced by pricing services. The pricing services apply dealer quotes and other available trade information such as bids and offers, prepayment speeds which may be adjusted for the underlying collateral or current price data, the U.S. treasury curve and swap curve as well as cash settlement. The pricing services determine the expected cash flows for each security held in this sector using historical prepayment and default projections for the underlying collateral and current market data. In addition, a spread is applied to the relevant benchmark and used to discount the cash flows noted above to determine the fair value of the securities held in this sector. Short Term Investments Level 2 - The fair value of the Company’s portfolio of short term investments is generally determined using amortized cost which approximates fair value and, in certain cases, in a manner similar to the Company’s fixed maturity investments noted above. Equity Investments, Classified as Trading Level 1 - The fair value of the Company’s portfolio of equity investments, classified as trading is primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. When pricing these securities, the pricing services utilize daily data from many real time market sources, including applicable securities exchanges. All data sources are regularly reviewed for accuracy to attempt to ensure the most reliable price source was used for each security. Other investments Catastrophe bonds Level 2 - The Company’s other investments include investments in catastrophe bonds which are recorded at fair value based on broker or underwriter bid indications. Other assets and liabilities Derivatives Level 1 and Level 2 - Other assets and liabilities include certain derivatives entered into by the Company. The fair value of these transactions includes certain exchange traded foreign currency forward contracts which are considered Level 1, and certain credit derivatives, determined using standard industry valuation models and considered Level 2, as the inputs to the valuation model are based on observable market inputs, including credit spreads, credit ratings of the underlying referenced security, the risk free rate and the contract term. Other Level 2 - The liabilities measured at fair value and included in Level 2 at June 30, 2014 of $5.2 million are comprised of cash settled restricted stock units (“CSRSU”) that form part of the Company’s compensation program. The fair value of the Company’s CSRSUs is determined using observable exchange traded prices for the Company’s common shares. Level 3 Assets and Liabilities Measured at Fair Value Below is a summary of quantitative information regarding the significant observable and unobservable inputs (Level 3) used in determining the fair value of assets and liabilities measured at fair value on a recurring basis:
Fixed Maturity Investments Corporate Level 3 - Included in the Company’s corporate fixed maturity investments is an investment in the preferred equity of an insurance holding company with a fair value of $15.9 million at June 30, 2014. The Company measures the fair value of this investment using a DCF model and seeks to incorporate all relevant information reasonably available. The Company considers the contractual agreement which stipulates the methodology for calculating a dividend rate to be paid upon liquidation, conversion or redemption. At June 30, 2014, the dividend rate was 6.2%. In addition, the Company has estimated a liquidity discount of 1.0%, a risk-free rate of 0.3% and a credit spread of 1.1%. To ensure the estimate for fair value determined using the DCF model is reasonable, the Company reviews private market comparables of similar investments, if available, and in particular, credit ratings of other private market comparables for similar investments to determine the appropriateness of its estimate of fair value using a DCF model. The fair value of the Company’s investment in this corporate fixed maturity investment determined by a DCF model is positively correlated to the dividend rate, and inversely correlated to the credit spread, liquidity discount and the risk-free rate. In addition, the Company’s corporate fixed maturity investments include an investment in the convertible preferred equity of Trupanion, Inc., a company that provides insurance for a variety of veterinarian costs (“Trupanion”), which investment had a fair value of $30.2 million at June 30, 2014. The Company measured the fair value of this investment using a third party valuation, which included, but was not limited to, discounted cash flow analysis, financial statement analysis, budgets and forecasts and capital transactions. In circumstances where a private market transaction has recently occurred, the Company will evaluate the comparability of the private market transactions to the fair value of its investment and determine if the third party valuation is still appropriate. The fair value of this investment was positively correlated to the estimated fair value of the aggregate equity of the investee as provided in the third party valuation report. On July 18, 2014, Trupanion’s common stock began publicly trading on the New York Stock Exchange ("NYSE"). Effective immediately prior to the closing of the initial public offering, the Company’s investment in the convertible preferred equity of Trupanion was converted into 2.5 million common shares of Trupanion. Using the closing share price of Trupanion’s common stock on July 28, 2014, the value of the Company's 2.5 million common shares of Trupanion was $25.1 million. Following the initial public offering, the Company expects its investment in Trupanion will be included in its portfolio of equity investments trading on its consolidated balance sheet and any realized and unrealized gains or losses related to Trupanion from the initial public offering price will be included in net realized and unrealized gains (losses) on investments on the Company's consolidated statements of operations in the period in which they occur. The Company has agreed, subject to certain exceptions, not to dispose of or hedge any of the shares of Trupanion it holds prior to January 14, 2015. Other investments Private equity partnerships Level 3 - Included in the Company’s $315.0 million of investments in private equity partnerships at June 30, 2014 are alternative asset limited partnerships (or similar corporate structures) that invest in certain private equity asset classes including U.S. and global leveraged buyouts; mezzanine investments; distressed securities; real estate; and oil, gas and power. The fair value of private equity partnership investments is based on current estimated net asset values established in accordance with the governing documents of such investments and is obtained from the investment manager or general partner of the respective entity. The type of underlying investments held by the investee which form the basis of the net asset valuation include assets such as private business ventures, for which the Company does not have access to financial information. As a result, the Company is unable to corroborate the fair value measurement of the underlying investments of the private equity partnership and therefore requires significant management judgment to determine the fair value of the private equity partnership. In circumstances where there is a reporting lag between the current period end reporting date and the reporting date of the latest fund valuation, the Company estimates the fair value of these funds by starting with the prior quarter-end fund valuations, adjusting these valuations for actual capital calls, redemptions or distributions, as well as the impact of changes in foreign currency exchange rates, and then estimating the return for the current period. In circumstances in which the Company estimates the return for the current period, all relevant information reasonably available to the Company is utilized. This principally includes preliminary estimates reported to the Company by its fund managers, obtaining the valuation of underlying portfolio investments where such underlying investments are publicly traded and therefore have a readily observable price, using information that is available to the Company with respect to the underlying investments, reviewing various indices for similar investments or asset classes, as well as estimating returns based on the results of similar types of investments for which the Company has obtained reported results, or other valuation methods, where possible. The range of such current estimated periodic returns for the three months ended June 30, 2014 was negative 3.0% to positive 18.9% with a weighted average of positive 4.0%. The fair value of the Company’s investment in private equity partnerships is positively correlated to the estimated periodic rate of return. The Company also considers factors such as recent financial information, the value of capital transactions with the partnership and management’s judgment regarding whether any adjustments should be made to the net asset value. For each respective private equity partnership, the Company obtains and reviews the valuation methodology used by the investment manager or general partner and the latest audited annual financial statements to attempt to ensure that the investment partnership is following fair value principles consistent with GAAP in determining the net asset value of each limited partner’s interest. Senior secured bank loan funds Level 3 - The Company has $16.0 million invested in closed end funds which invest primarily in loans. The Company has no right to redeem its investment in these funds. The Company’s investments in these funds are valued using estimated monthly net asset valuations received from the investment manager. The lock up provisions in these funds result in a lack of current observable market transactions between the fund participants and the funds, and therefore the Company considers the fair value of its investment in these funds to be determined using Level 3 inputs. The Company obtains and reviews the latest audited annual financial statements to attempt to ensure that these funds are following fair value principles consistent with GAAP in determining the net asset value. The fair value of the Company’s investment in senior secured bank loan funds is positively correlated to the estimated monthly net asset valuations received from the investment manager. Hedge funds Level 3 - The Company has $3.2 million of hedge fund investments that are invested in so called “side pockets” or illiquid investments. In these instances, the Company generally does not have the right to redeem its interest, and as such, the Company classifies this portion of its investment as Level 3. The fair value of these illiquid investments is determined by adjusting the previous periods’ reported net asset value (generally one month in arrears) for an estimated periodic rate of return obtained from the respective investment manager. For each respective hedge fund investment, the Company obtains and reviews the valuation methodology used by the investment manager and the latest audited annual financial statements to attempt to ensure that the hedge fund investment is following fair value principles consistent with GAAP in determining the net asset value. Other assets and liabilities Weather Contract Level 3 - The Company has a $1.1 million liability related to a weather contract entered into with an insurance company, with the fair value determined through the use of an internal valuation model. Inputs to the internal valuation model are based on proprietary data as observable market inputs are not available. The most significant unobservable input is the potential payment that would become due to a counterparty following the occurrence of a triggering event as reported by an external agency. Generally, an increase (decrease) in the potential payment would result in an increase (decrease) to the fair value of the Company’s weather contract liability. Call Rights Level 3 - The Company has an agreement with a counterparty that gives the counterparty the right to purchase shares the Company has in certain of its equity method investees at a price above the Company’s current carrying value for those investments. The agreement is considered a derivative for accounting purposes and the Company’s estimated fair value of the agreement is $2.2 million at June 30, 2014. The fair value is based on an internal valuation model which incorporates the estimated intrinsic value of the agreement, the time value of money, and the likelihood of the agreement being exercised and ultimately settled. The fair value of the agreement is positively correlated to the tangible GAAP book value of the underlying equity method investees as well as the likelihood of the agreement being exercised and ultimately settled. Below is a reconciliation of the beginning and ending balances, for the periods shown, of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs. Interest and dividend income are included in net investment income and are excluded from the reconciliation.
Financial Instruments Disclosed, But Not Carried, at Fair Value The Company uses various financial instruments in the normal course of its business. The Company’s insurance contracts are excluded from the fair value of financial instruments accounting guidance, unless the Company elects the fair value option, and therefore, are not included in the amounts discussed herein. The carrying values of cash, accrued interest, receivables for investments sold, certain other assets, payables for investments purchased, certain other liabilities, and other financial instruments not included herein approximated their fair values. Senior Notes In March 2010, RenRe North America Holdings Inc. (“RRNAH”) issued $250.0 million of 5.75% Senior Notes due March 15, 2020, with interest on the notes payable on March 15 and September 15 of each year. At June 30, 2014, the fair value of the 5.75% Senior Notes was $269.7 million (December 31, 2013 – $273.9 million). The fair value of RRNAH’s 5.75% Senior Notes is determined using indicative market pricing obtained from third-party service providers, which the Company considers Level 2 in the fair value hierarchy. There have been no changes during the period in the Company’s valuation technique used to determine the fair value of the Senior Notes. The Fair Value Option for Financial Assets and Financial Liabilities The Company has elected to account for certain financial assets and financial liabilities at fair value using the guidance under FASB ASC Topic Financial Instruments as the Company believes it represents the most meaningful measurement basis for these assets and liabilities. Below is a summary of the balances the Company has elected to account for at fair value:
Included in net investment income for the three and six months ended June 30, 2014 was net unrealized gains of $3.9 million and gains of $8.9 million, respectively, related to the changes in fair value of other investments (2013 – losses of $5.3 million and gains of $9.8 million, respectively). Measuring the Fair Value of Other Investments Using Net Asset Valuations The table below shows the Company’s portfolio of other investments measured using net asset valuations:
Private equity partnerships – Included in the Company’s investments in private equity partnerships are alternative asset limited partnerships (or similar corporate structures) that invest in certain private equity asset classes including U.S. and global leveraged buyouts; mezzanine investments; distressed securities; real estate; and oil, gas and power. The fair values of the investments in this category have been estimated in respect of the net asset value of the investments, as discussed in detail above. The Company generally has no right to redeem its interest in any of these private equity partnerships in advance of dissolution of the applicable private equity partnership. Instead, the nature of these investments is that distributions are received by the Company in connection with the liquidation of the underlying assets of the respective private equity partnership. It is estimated that the majority of the underlying assets of the limited partnerships would liquidate over 7 to 10 years from inception of the respective limited partnership. Senior secured bank loan funds – The Company has $16.0 million invested in closed end funds which invest primarily in loans. The Company has no right to redeem its investment in these funds. The Company’s investments in these funds are valued using estimated monthly net asset valuations received from the investment manager, as discussed in detail above. It is estimated that the majority of the underlying assets in the closed end funds would liquidate over 4 to 5 years from inception of the respective fund. Hedge funds – The Company invests in hedge funds that pursue multiple strategies. The fair values of the investments in this category are estimated using the net asset value per share of the funds, as discussed in detail above. The Company’s investments in hedge funds at June 30, 2014 are $3.2 million of so called “side pocket” investments which are not redeemable at the option of the shareholder. The Company will retain its interest in the side pocket investments referred to above, until the underlying investments attributable to such side pockets are liquidated, realized or deemed realized at the discretion of the fund manager. |
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reinsurance | REINSURANCE The Company purchases reinsurance and other protection to manage its risk portfolio and to reduce its exposure to large losses. The Company currently has in place contracts that provide for recovery of a portion of certain claims and claim expenses, generally in excess of various retentions or on a proportional basis. In addition to loss recoveries, certain of the Company’s ceded reinsurance contracts provide for recoveries of additional premiums, for reinstatement premiums and for lost no-claims bonuses, which are incurred when losses are ceded to other reinsurance contracts. The Company remains liable to the extent that any reinsurance company fails to meet its obligations. The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
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The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Noncontrolling Interests
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Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interests | NONCONTROLLING INTERESTS A summary of the Company’s noncontrolling interests on its consolidated balance sheets is set forth below:
A summary of the Company’s noncontrolling interests on its consolidated statements of operations set forth below:
Redeemable Noncontrolling Interest – DaVinciRe In October 2001, the Company formed DaVinciRe and DaVinci with other equity investors. RenaissanceRe owns a noncontrolling economic interest in DaVinciRe; however, because RenaissanceRe controls a majority of DaVinciRe’s outstanding voting rights, the consolidated financial statements of DaVinciRe are included in the consolidated financial statements of the Company. The portion of DaVinciRe’s earnings owned by third parties is recorded in the consolidated statements of operations as net income attributable to noncontrolling interests. The Company’s noncontrolling economic ownership in DaVinciRe was 26.5% at June 30, 2014 (December 31, 2013 - 27.3%). DaVinciRe shareholders are party to a shareholders agreement (the “Shareholders Agreement”) which provides DaVinciRe shareholders, excluding RenaissanceRe, with certain redemption rights that enable each shareholder to notify DaVinciRe of such shareholder’s desire for DaVinciRe to repurchase up to half of such shareholder’s initial aggregate number of shares held, subject to certain limitations, such as limiting the aggregate of all share repurchase requests to 25% of DaVinciRe’s capital in any given year and satisfying all applicable regulatory requirements. If total shareholder requests exceed 25% of DaVinciRe’s capital, the number of shares repurchased will be reduced among the requesting shareholders pro-rata, based on the amounts desired to be repurchased. Shareholders desiring to have DaVinci repurchase their shares must notify DaVinciRe before March 1 of each year. The repurchase price will be based on GAAP book value as of the end of the year in which the shareholder notice is given, and the repurchase will be effective as of such date. Payment will be made by April 1 of the following year, following delivery of the audited financial statements for the year in which the repurchase was effective. The repurchase price is subject to a true-up for development on outstanding loss reserves after settlement of all claims relating to the applicable years. 2013 During January 2013, DaVinciRe redeemed shares from certain DaVinciRe shareholders (including those who submitted redemption notices in advance of the March 1, 2012 annual redemption notice date, as discussed above) while certain other DaVinciRe shareholders purchased additional shares in DaVinciRe. The net redemption as a result of these transactions was $150.0 million. In connection with the redemptions, DaVinciRe retained a $20.5 million holdback. The Company’s noncontrolling economic ownership in DaVinciRe was 30.8% at December 31, 2012 and subsequent to the above transactions, the Company’s noncontrolling economic ownership in DaVinciRe increased to 32.9% effective January 1, 2013. Effective October 1, 2013, an existing third party shareholder sold a portion of its shares in DaVinciRe to a new third party shareholder. In addition, effective October 1, 2013, the Company sold a portion of its shares of DaVinciRe to the same new third party shareholder. The Company sold these shares for $77.4 million and subsequent to the above transactions, its noncontrolling economic ownership interest in DaVinciRe decreased, and was 27.3% at December 31, 2013. 2014 During January 2014, DaVinciRe redeemed a portion of its outstanding shares from all existing DaVinciRe shareholders, including the Company, while a new DaVinciRe shareholder purchased shares in DaVinciRe. The net redemption as a result of these transactions was $300.0 million. In connection with the redemption, DaVinciRe retained a $60.0 million holdback. The Company’s noncontrolling economic ownership in DaVinciRe subsequent to these transactions is 26.5%, effective January 1, 2014. During February 2014, DaVinciRe paid $30.0 million of the $60.0 million holdback. There were no additional payments of the holdback during the second quarter of 2014. See “Note 15. Subsequent Events” for additional information related to DaVinciRe transactions which occurred subsequent to June 30, 2014. The Company expects its noncontrolling economic ownership in DaVinciRe to fluctuate over time. The activity in redeemable noncontrolling interest – DaVinciRe is detailed in the table below:
Redeemable Noncontrolling Interest - RenaissanceRe Medici Fund Ltd. (“Medici”) Medici is an exempted company incorporated under the laws of Bermuda and its objective is to seek to invest substantially all of its assets in various insurance-based investment instruments that have returns primarily tied to property catastrophe risk. RenaissanceRe owns a noncontrolling economic interest in Medici; however, because RenaissanceRe controls all of Medici’s outstanding voting rights, the financial statements of Medici are included in the consolidated financial statements of the Company. The portion of Medici’s earnings owned by third parties is recorded in the consolidated statements of operations as net income attributable to noncontrolling interests. Any shareholder may redeem all or any portion of its shares as of the last day of any calendar month, upon at least 30 calendar days’ prior irrevocable written notice to Medici. As the participating, non-voting common shares of Medici have redemption features which are outside the control of the issuer, the portion related to the redeemable noncontrolling interest in Medici is recorded in the mezzanine section of the consolidated balance sheets of the Company. 2013 Prior to June 1, 2013, Medici was a wholly owned subsidiary of RenaissanceRe Fund Holdings Ltd., which in turn is a wholly owned subsidiary of RenaissanceRe. Subsequent to June 1, 2013, third-party investors subscribed for, and redeemed, an aggregate of $37.2 million and $1.3 million, respectively, of the participating, non-voting common shares of Medici. As a result of the third-party investments during the period from June 1, 2013 through December 31, 2013, the Company’s economic ownership in Medici was 73.9% at December 31, 2013. 2014 During the six months ended June 30, 2014, third-party investors subscribed for and redeemed an aggregate of $57.1 million and $1.9 million, respectively, of the participating, non-voting common shares of Medici. As a result of these net subscriptions, the Company’s economic ownership in Medici decreased to 49.3%, effective June 30, 2014. The Company expects its ownership in Medici to fluctuate over time. The activity in redeemable noncontrolling interest – Medici is detailed in the table below:
Noncontrolling Interest - Angus Fund L.P. (the “Angus Fund”) In December 2010, REAL and RRCA, both formerly wholly owned subsidiaries of RenaissanceRe, formed the Angus Fund with other equity investors. The Angus Fund was formed to provide capital to and make investments in companies primarily in the heating oil and propane distribution industries and Angus Partners LLC (“Angus”) was formed to provide commodity related risk management products to third party customers. As part of the agreement to sell REAL to Munich (see “Note 3. Discontinued Operations” for additional information), the former general partner of the Angus Fund, REAL, transferred its general partner ownership interest to RRV U.S. Holdings LLC, a wholly owned subsidiary of RenaissanceRe, representing a $55 thousand investment in the Angus Fund, or a 1.1% ownership interest, and RRCA, a former limited partner, transferred its limited partner ownership interest to RenTech U.S. Holdings LLC (“RenTech”), a wholly owned subsidiary of RenaissanceRe, representing a $2.0 million investment in the Angus Fund, or a 35.0% ownership interest. There was no gain or loss recognized on the above transactions. Effective December 1, 2013, both RRV U.S. and RenTech contributed their ownership interests in the Angus Fund to Angus for $2.3 million, in return for equity interests in Angus. The Company previously had an equity interest of 38.8% in Angus, and as a result of these transactions, its equity interest in Angus increased to 42.5%. In addition, these transactions resulted in $1.7 million of additional goodwill related to the Company’s additional investment in Angus. During the first quarter of 2014, Angus raised additional capital from its existing third party investors. The Company did not participate in this capital raise and, as a result, the Company’s ownership interest in Angus is 40.4% at June 30, 2014. The Company records its equity investment in Angus one quarter in arrears. Prior to December 1, 2013, the Angus Fund met the definition of a VIE; therefore the Company evaluated its ownership in the Angus Fund to determine if it was the primary beneficiary. The Company had concluded it was the primary beneficiary of the Angus Fund as it had the power to direct, and had more than insignificant economic interest in, the activities of the Angus Fund and as such, the financial position and results of operations of the Angus Fund were consolidated. The portion of the Angus Fund’s earnings owned by third parties was recorded in the consolidated statements of operations as net income attributable to noncontrolling interest. Effective December 1, 2013, the Company concluded that it no longer had the power to direct the activities, nor was it the primary beneficiary, of the Angus Fund and as a result, it was deconsolidated. At June 30, 2014 and December 31, 2013, the Company’s equity investment in Angus is recorded under investments in other ventures, under equity method on the Company’s consolidated balance sheets. The activity in noncontrolling interest – Angus Fund is detailed in the table below:
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The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Variable Interest Entities
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES Upsilon RFO Effective January 1, 2013, the Company formed and launched Upsilon RFO, a managed joint venture, and a Bermuda domiciled SPI, to provide additional capacity to the worldwide aggregate and per-occurrence retrocessional property catastrophe excess of loss market. The shareholders (other than the Class A shareholder) participate in substantially all of the profits or losses of Upsilon RFO while their shares remain outstanding. The shareholders (other than the Class A shareholder) indemnify Upsilon RFO against losses relating to insurance risk and therefore these shares have been accounted for as prospective reinsurance under FASB ASC Topic Financial Services - Insurance. Both Upsilon RFO and the insurance participation are managed by RUM in return for an expense override and profit commission. Upsilon RFO is considered a VIE as it has insufficient equity capital to finance its activities without additional financial support. The Company is the primary beneficiary of Upsilon RFO as it: (i) has the power over the activities that most significantly impact the economic performance of Upsilon RFO and (ii) has the obligation to absorb the losses, and right to receive the benefits, in accordance with the accounting guidance, that could be significant to Upsilon RFO. As a result, the Company consolidates Upsilon RFO and all significant inter-company transactions have been eliminated. The Company has not provided financial or other support to Upsilon RFO that was not contractually required to be provided. 2013 Original business was written directly by Upsilon RFO and included $53.5 million of gross premiums written incepting January 1, 2013 under fully-collateralized reinsurance contracts. In conjunction with the formation and launch of Upsilon RFO, $61.0 million of Upsilon RFO non-voting Class B shares were sold to unaffiliated third party investors. Additionally, $76.4 million of the non-voting Class B shares were acquired by the Company, representing a 55.6% participation in the original risks assumed by Upsilon RFO effective January 1, 2013. In addition, another third party investor supplied $17.5 million of capital through an insurance contract with the Company related to Upsilon RFO’s reinsurance portfolio. Inclusive of the insurance contract, the Company had a 42.9% participation in the original risks assumed by Upsilon RFO effective January 1, 2013. On July 1, 2013, the Company sold a portion of its shares of Upsilon RFO to a new third party shareholder for $25.0 million. The Company’s participation in the original risks assumed by Upsilon RFO prior to January 1, 2014 was 25.8%, inclusive of the related insurance contract, effective December 31, 2013. Original business written directly by Upsilon RFO and incepting during 2013 has expired, and the associated non-voting Class B share capital contributed by unaffiliated third party investors and the Company has been settled in full. No additional business or non-voting Class B share capital remains outstanding related to original business incepted during 2013. 2014 In conjunction with risks incepting during the first quarter of 2014, $172.4 million of Upsilon RFO non-voting preference shares were sold to unaffiliated third-party investors. Additionally, $109.7 million of the non-voting preference shares were acquired by the Company, representing a 38.9% participation in the risks assumed by Upsilon RFO incepting during the first quarter of 2014. In addition, another third party investor supplied $15.0 million of capital through an insurance contract with the Company related to Upsilon RFO’s reinsurance portfolio. Inclusive of the insurance contract, the Company has a 33.6% participation in the original risks assumed by Upsilon RFO in conjunction with risks incepting during the first quarter of 2014. In conjunction with risks incepting during the second quarter of 2014, $43.1 million of Upsilon RFO non-voting preference shares were sold to unaffiliated third-party investors. Additionally, $13.5 million of the non-voting preference shares were acquired by the Company, representing a 23.9% participation in the risks assumed by Upsilon RFO incepting during the second quarter of 2014. In addition, another third party investor supplied $5.0 million of capital through an insurance contract with the Company related to Upsilon RFO’s reinsurance portfolio. Inclusive of the insurance contract, the Company has a 15.0% participation in the original risks assumed by Upsilon RFO in conjunction with risks incepting during the second quarter of 2014. At June 30, 2014, the Company’s consolidated balance sheet included total assets and total liabilities of Upsilon RFO of $487.0 million and $487.0 million, respectively (December 31, 2013 - $474.2 million and $474.2 million, respectively, including $156.3 million of capital raised from third party investors and received by Upsilon RFO prior to December 31, 2013 for risks incepted during the first quarter of 2014). Inclusive of all capital raised for risks incepting during the first six months of 2014, the Company has a 30.5% participation in the original risks assumed by Upsilon RFO for the period from January 1, 2014 through June 30, 2014. Mona Lisa Re Ltd. (“Mona Lisa Re”) On March 14, 2013, Mona Lisa Re was licensed as a Bermuda domiciled SPI to provide reinsurance capacity to subsidiaries of RenaissanceRe, namely Renaissance Reinsurance and DaVinci, through reinsurance agreements which will be collateralized and funded by Mona Lisa Re through the issuance of one or more series of principal-at-risk variable rate notes (“Notes”) to third-party investors. Upon issuance of a series of Notes by Mona Lisa Re, all of the proceeds from the issuance are expected to be deposited into collateral accounts, separated by series, to fund any potential obligation under the reinsurance agreements entered into with Renaissance Reinsurance and/or DaVinci underlying such series of Notes. The outstanding principal amount of each series of Notes generally will be returned to holders of such Notes upon the expiration of the risk period underlying such Notes, unless an event occurs which causes a loss under the applicable series of Notes, in which case the amount returned will be reduced by such noteholder’s pro rata share of such loss, as specified in the applicable governing documents of such Notes. In addition, holders of Notes are generally entitled to interest payments, payable quarterly, as determined by the applicable governing documents of each series of Notes. The Company concluded that Mona Lisa Re meets the definition of a VIE as it does not have sufficient equity capital to finance its activities. Therefore, the Company evaluated its relationship with Mona Lisa Re and concluded it does not have a variable interest in Mona Lisa Re. As a result, the financial position and results of operations of Mona Lisa Re are not consolidated by the Company. At June 30, 2014, the total assets and total liabilities of Mona Lisa Re were $179.1 million and $179.1 million, respectively (December 31, 2013 - $209.6 million and $209.6 million, respectively). The only transactions related to Mona Lisa Re that are recorded in the Company’s consolidated financial statements are the ceded reinsurance agreements entered into by Renaissance Reinsurance and DaVinci which are accounted for as prospective reinsurance under FASB ASC Topic Financial Services - Insurance. Renaissance Reinsurance and DaVinci have together entered into ceded reinsurance contracts with Mona Lisa Re with gross premiums ceded of $2.0 million and $1.9 million, respectively, during the six months ended June 30, 2014 (2013 - $1.2 million and $1.2 million, respectively). In addition, Renaissance Reinsurance and DaVinci recognized ceded premiums earned related to the ceded reinsurance contracts with Mona Lisa Re of $5.0 million and $3.6 million, respectively, during the six months ended June 30, 2014 (2013 - $0.3 million and $0.3 million, respectively). |
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Variable Interest Entity Disclosures [Text Block] No definition available.
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Stockholders' Equity Note [Abstract] | |
Shareholders' Equity | SHAREHOLDERS’ EQUITY The Board of Directors of RenaissanceRe declared, and RenaissanceRe paid, a dividend of $0.29 per common share to shareholders of record on March 14, 2014 and June 13, 2014. During the six months ended June 30, 2014, the Company declared and paid $11.2 million in preference share dividends (2013 - $13.8 million) and $23.6 million in common share dividends (2013 - $24.7 million). The Company’s share repurchase program may be effected from time to time, depending on market conditions and other factors, through open market purchases and privately negotiated transactions. Unless terminated earlier by resolution of RenaissanceRe’s Board of Directors, the program will expire when the Company has repurchased the full value of the shares authorized. The Company’s decision to repurchase common shares will depend on, among other matters, the market price of the common shares and the capital requirements of the Company. During the six months ended June 30, 2014, the Company repurchased an aggregate of 3.4 million shares in open market transactions, at an aggregate cost of $314.5 million, and at an average share price of $93.53. On May 20, 2014, RenaissanceRe’s Board of Directors approved a renewal of the Company’s authorized share repurchase program for an aggregate amount of $500.0 million. At June 30, 2014, $500.0 million remained available for repurchase under the Board authorized share repurchase program. See “Part II, Item 2 - Unregistered Sales of Equity Securities and use of Proceeds” for additional information. In March 2004, RenaissanceRe raised $250.0 million through the issuance of 10 million Series C Preference Shares at $25 per share; in December 2006, RenaissanceRe raised $300.0 million through the issuance of 12 million Series D Preference Shares at $25 per share; and in May 2013, RenaissanceRe raised $275.0 million through the issuance of 11 million Series E Preference Shares at $25 per share. On December 27, 2012, the Company redeemed 6 million Series D Preference Shares for $150.0 million plus accrued and unpaid dividends thereon. Following the redemption, 6 million Series D Preference Shares remained outstanding. In May 2013, RenaissanceRe announced a mandatory redemption of the remaining 6 million of its outstanding Series D Preference Shares, using the proceeds from the issuance of the Series E Preference Shares, and on June 27, 2013 RenaissanceRe redeemed the remaining 6 million Series D Preference Shares called for redemption for $150.0 million million plus accrued and unpaid dividends thereon. Following the redemption, no Series D Preference Shares remain outstanding. In addition, in May 2013, RenaissanceRe announced a mandatory partial redemption of 5 million of its outstanding Series C Preference Shares, using the proceeds from the issuance of the Series E Preference Shares. The partial redemption was allocated by random lottery in accordance with the Depository Trust Company’s rules and procedures and on June 27, 2013 RenaissanceRe redeemed the 5 million Series C Preference Shares called for redemption for $125.0 million plus accrued and unpaid dividends thereon. Following the redemption, 5 million Series C Preference Shares remain outstanding. The Series E Preference Shares and the remaining Series C Preference Shares may be redeemed at $25 per share plus certain dividends at RenaissanceRe’s option on or after June 1, 2018 and March 23, 2009, respectively. Dividends on the Series C Preference Shares are cumulative from the date of original issuance and are payable quarterly in arrears at 6.08% per annum, when, if, and as declared by the Board of Directors. Dividends on the Series E Preference Shares will be payable from the date of original issuance on a non-cumulative basis, only when, as and if declared by the Board of Directors, quarterly in arrears at 5.375% per annum. Unless certain dividend payments are made on the preference shares, RenaissanceRe will be restricted from paying any dividends on its common shares. The preference shares have no stated maturity and are not convertible into any other securities of RenaissanceRe. Generally, the preference shares have no voting rights. Whenever dividends payable on the preference shares are in arrears (whether or not such dividends have been earned or declared) in an amount equivalent to dividends for six full dividend periods (whether or not consecutive), the holders of the preference shares, voting as a single class regardless of class or series, will have the right to elect two directors to the Board of Directors of RenaissanceRe. |
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The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share
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Earnings Per Share | EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per common share:
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Jun. 30, 2014
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Segment Reporting, Measurement Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting | SEGMENT REPORTING The Company has the following reportable segments: (1) Catastrophe Reinsurance, which includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit; (2) Specialty Reinsurance, which includes specialty reinsurance and certain specialty joint ventures managed by the Company’s ventures unit; and (3) Lloyd’s, which includes reinsurance and insurance business written through Syndicate 1458. RenaissanceRe CCL, an indirect wholly owned subsidiary of RenaissanceRe, is the sole corporate member of Syndicate 1458. All prior periods presented have been reclassified to conform to this presentation. The financial results of the Company’s strategic investments, former Insurance segment, discontinued operations related to REAL and current noncontrolling interests are included in the Other category of the Company’s segment results. Also included in the Other category of the Company’s segment results are the Company’s investments in other ventures, investments unit, corporate expenses and capital servicing costs. 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 is as follows:
(1) Included in gross premiums written in the Other category is the elimination of inter-segment gross premiums written of $1.0 million.
(1) Included in gross premiums written in the Other category is the elimination of inter-segment gross premiums written of $1.0 million. |
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Instruments
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Jun. 30, 2014
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Summary of Derivative Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments | DERIVATIVE INSTRUMENTS The Company enters into derivative instruments such as futures, options, swaps, forward contracts and other derivative contracts primarily to manage its foreign currency exposure, obtain exposure to a particular financial market, for yield enhancement, or for trading and speculation. The Company accounts for its derivatives in accordance with FASB ASC Topic Derivatives and Hedging, which requires all derivatives to be recorded at fair value on the Company’s balance sheet as either assets or liabilities, depending on the rights or obligations of the derivatives, with changes in fair value reflected in current earnings. The Company does not currently apply hedge accounting in respect of any positions reflected in its consolidated financial statements. The Company’s derivative instruments are generally traded under International Swaps and Derivatives Association master agreements, which establish the terms of the transactions entered into with the Company’s derivative counterparties. In the event one party becomes insolvent or otherwise defaults on its obligations, a master agreement generally permits the non-defaulting party to accelerate and terminate all outstanding transactions and net the transactions’ marked-to-market values so that a single sum in a single currency will be owed by, or owed to, the non-defaulting party. Effectively, this contractual close-out netting reduces credit exposure from gross to net exposure. Where the Company has entered into master netting agreements with counterparties, or the Company has the legal and contractual right to offset positions, the derivative positions are generally netted by counterparty and are reported accordingly in other assets and other liabilities. The tables below show the gross and net amounts of recognized derivative assets and liabilities, including the location on the consolidated balance sheets and fair value of the Company’s principal derivative instruments:
Refer to “Note 4. Investments” for information on reverse repurchase agreements. The location and amount of the gain (loss) recognized in the Company’s consolidated statements of operations related to its principal derivative instruments are shown in the following table:
The Company is not aware of the existence of any credit-risk related contingent features that it believes would be triggered in its derivative instruments that are in a net liability position at June 30, 2014. Interest Rate Futures The Company uses interest rate futures within its portfolio of fixed maturity investments to manage its exposure to interest rate risk, which can include increasing or decreasing its exposure to this risk. At June 30, 2014, the Company had $523.5 million of notional long positions and $667.4 million of notional short positions of primarily Eurodollar, U.S. treasury and non-U.S. dollar futures contracts (December 31, 2013 - $1,169.3 million and $356.6 million, respectively). The fair value of these derivatives is determined using exchange traded prices. Foreign Currency Derivatives The Company’s functional currency is the U.S. dollar. The Company writes a portion of its business in currencies other than U.S. dollars and may, from time to time, experience foreign exchange gains and losses in the Company’s consolidated financial statements. All changes in exchange rates, with the exception of non-monetary assets and liabilities, are recognized currently in the Company’s consolidated statements of operations. Underwriting Operations Related Foreign Currency Contracts The Company’s foreign currency policy with regard to its underwriting operations is generally to hold foreign currency assets, including cash, investments and receivables that approximate the foreign currency liabilities, including claims and claim expense reserves and reinsurance balances payable. When necessary, the Company may use foreign currency forward and option contracts to minimize the effect of fluctuating foreign currencies on the value of non-U.S. dollar denominated assets and liabilities associated with its underwriting operations. The fair value of the Company’s underwriting operations related foreign currency contracts is determined using indicative pricing obtained from counterparties or broker quotes. At June 30, 2014, the Company had outstanding underwriting related foreign currency contracts of $163.6 million in notional long positions and $235.5 million in notional short positions, denominated in U.S. dollars (December 31, 2013 - $263.6 million and $139.8 million, respectively). Investment Portfolio Related Foreign Currency Forward Contracts The Company’s investment operations are exposed to currency fluctuations through its investments in non-U.S. dollar fixed maturity investments, short term investments and other investments. To economically hedge its exposure to currency fluctuations from these investments, the Company has entered into foreign currency forward contracts. Foreign exchange (losses) gains associated with the Company’s hedging of these non-U.S. dollar investments are recorded in net foreign exchange (losses) gains in its consolidated statements of operations. The fair value of the Company’s investment portfolio related foreign currency forward contracts is determined using an interpolated rate based on closing forward market rates. At June 30, 2014, the Company had outstanding investment portfolio related foreign currency contracts of $41.6 million in notional long positions and $153.1 million in notional short positions, denominated in U.S. dollars (December 31, 2013 - $39.6 million and $159.1 million, respectively). Credit Derivatives The Company’s exposure to credit risk is primarily due to its fixed maturity investments, short term investments, premiums receivable and reinsurance recoverable. From time to time, the Company purchases credit derivatives to hedge its exposures in the insurance industry, and to assist in managing the credit risk associated with ceded reinsurance. The Company also employs credit derivatives in its investment portfolio to either assume credit risk or hedge its credit exposure. The fair value of the credit derivatives is determined using industry valuation models, broker bid indications or internal pricing valuation techniques. The fair value of these credit derivatives can change based on a variety of factors including changes in credit spreads, default rates and recovery rates, the correlation of credit risk between the referenced credit and the counterparty, and market rate inputs such as interest rates. At June 30, 2014, the Company had outstanding credit derivatives of $5.0 million in notional long positions and $25.1 million in notional short positions, denominated in U.S. dollars (December 31, 2013 - $7.1 million and $18.4 million, respectively). Weather Contract The Company, from time to time, transacts in certain derivative-based risk management products that address weather-related risks. The fair value of these contracts is determined through the use of an internal valuation model with the inputs to the internal valuation model based on proprietary data as observable market inputs are not available. The most significant unobservable input is the potential payment that would become due to a counterparty following the occurrence of a triggering event as reported by an external agency. Generally, the Company’s portfolio of such derivatives is relatively small and such derivatives are frequently seasonal in nature. At June 30, 2014, the Company had an outstanding weather contract with an insurance company of $6.7 million in a notional short position (December 31, 2013 - $6.4 million). Call Rights The Company has an agreement with a counterparty that gives the counterparty the right to purchase shares the Company has in certain of its equity method investees at a price above the Company’s current carrying value for those investments. The agreement is considered a derivative for accounting purposes and the Company’s estimated fair value of the agreement is $2.2 million at June 30, 2014. The fair value is based on an internal valuation model which incorporates the estimated intrinsic value of the agreement, the time value of money, and the likelihood of the agreement being exercised and ultimately settled. |
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The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments, Contingencies and Other Items
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Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Other Items | COMMITMENTS, CONTINGENCIES AND OTHER ITEMS There are no material changes from the commitments and contingencies previously disclosed in the Company’s Form 10-K for the year ended December 31, 2013, other than those discussed below. Syndicated Letter of Credit Facility Effective as of March 31, 2014, RenaissanceRe reduced the commitments under its syndicated letter of credit facility from $250.0 million to $180.0 million, and effective June 30, 2014, RenaissanceRe further reduced the commitments under its syndicated letter of credit facility from $180.0 million to $100.0 million. The reductions were implemented in connection with a reassessment of the future collateral needs of RenaissanceRe, taking into account, among other things, its access to alternative sources of credit enhancement. Prior to the expiration date of May 17, 2015 and after giving effect to the reduction noted above, the commitments may, subject to the satisfaction of certain conditions, be increased from time to time up to an aggregate amount not to exceed $450.0 million. Legal Proceedings The Company and its subsidiaries are subject to lawsuits and regulatory actions in the normal course of business that do not arise from or directly relate to claims on reinsurance treaties or contracts or direct surplus lines insurance policies. This category of business litigation may involve allegations of underwriting or claims-handling errors or misconduct, employment claims, regulatory actions or disputes arising from the Company’s business ventures. The Company’s operating subsidiaries are subject to claims litigation involving, among other things, disputed interpretations of policy coverages. Generally, the Company’s direct surplus lines insurance operations are subject to greater frequency and diversity of claims and claims-related litigation than its reinsurance operations and, in some jurisdictions, may be subject to direct actions by allegedly injured persons or entities seeking damages from policyholders. These lawsuits, involving claims on policies issued by the Company’s subsidiaries which are typical to the insurance industry in general and in the normal course of business, are considered in its loss and loss expense reserves. In addition, the Company may from time to time engage in litigation or arbitration related to its claims for payment in respect of ceded reinsurance, including disputes that challenge the Company’s ability to enforce its underwriting intent. Such matters could result, directly or indirectly, in providers of protection not meeting their obligations to the Company or not doing so on a timely basis. The Company may also be subject to other disputes from time to time, relating to operational or other matters distinct from insurance or reinsurance claims. Any litigation or arbitration, or regulatory process, contains an element of uncertainty, and the value of an exposure or a gain contingency related to a dispute is difficult to estimate accordingly. Currently, the Company believes that no individual litigation or arbitration to which it is presently a party is likely to have a material adverse effect on its financial condition, business or operations. |
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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries
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Jun. 30, 2014
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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Financial Information Provided in Connection with Outstanding Debt of Subsidiaries | CONDENSED CONSOLIDATING FINANCIAL INFORMATION PROVIDED IN CONNECTION WITH OUTSTANDING DEBT OF SUBSIDIARIES The following tables present condensed consolidating balance sheets at June 30, 2014 and December 31, 2013, condensed consolidating statements of operations and condensed consolidating statements of comprehensive income for the three and six months ended June 30, 2014, and condensed consolidating statements of cash flow for the six months ended June 30, 2014 and 2013, respectively, for RenaissanceRe, RRNAH and RenaissanceRe’s other subsidiaries. RRNAH is a 100% owned subsidiary of RenaissanceRe. On March 17, 2010, RRNAH issued, and RenaissanceRe guaranteed, $250.0 million of 5.75% Senior Notes due March 15, 2020, with interest on the notes payable on March 15 and September 15. The notes can be redeemed by RRNAH prior to maturity, subject to payment of a “make-whole” premium. The notes, which are senior obligations, contain various covenants, including limitations on mergers and consolidations, restrictions as to the disposition of the stock of designated subsidiaries and limitations on liens of the stock of designated subsidiaries.
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The entire disclosure for condensed financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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6 Months Ended |
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Jun. 30, 2014
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Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Effective July 1, 2014, the Company sold a portion of its shares of DaVinciRe to an existing third party shareholder. The Company sold these shares for $38.9 million. The Company's ownership in DaVinciRe was 26.5% at June 30, 2014 and subsequent to the above transaction, its ownership interest in DaVinciRe decreased to 23.4% effective July 1, 2014. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Significant Accounting Policies (Policy)
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6 Months Ended |
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Jun. 30, 2014
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Accounting Policies [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION The consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position and results of operations as at the end of and for the periods presented. All significant intercompany accounts and transactions have been eliminated from these statements. Except as discussed in “Note 3. Discontinued Operations,” and unless otherwise noted, the notes to the consolidated financial statements reflect the Company’s continuing operations. Certain comparative information has been reclassified to conform to the current presentation. Because of the seasonality of the Company’s business, the results of operations and cash flows for any interim period will not necessarily be indicative of the results of operations and cash flows for the full fiscal year or subsequent quarters. |
Use of Estimates in Financial Statements | USE OF ESTIMATES IN FINANCIAL STATEMENTS The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses; reinsurance recoverables, including allowances for reinsurance recoverables deemed uncollectible; estimates of written and earned premiums; fair value, including the fair value of investments, financial instruments and derivatives; impairment charges and the Company’s deferred tax valuation allowance. |
Discontinued Operations | DISCONTINUED OPERATIONS The results of operations of REAL, which has been sold to an unaffiliated third party, is classified as held for sale and reported as discontinued operations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic Discontinued Operations. The consolidated financial statements and notes thereto are presented excluding the operations and cash flows of the discontinued operations from the continuing operations of the Company since the Company will not have any significant continuing involvement in the operations after the sale. The financial position and results of operations of discontinued operations are presented as single line items on the consolidated balance sheets and statements of operations, respectively. Certain prior year comparatives have been reclassified to conform to the current year presentation. |
Recently Issued Accounting Pronouncements Not Yet Adopted | RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). The objective of ASU 2013-11 is to improve the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 seeks to reduce the diversity in practice by providing guidance on the presentation of unrecognized tax benefits to better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. ASU 2013-11 became effective for annual and interim reporting periods beginning after December 15, 2013. The Company prospectively adopted ASU 2013-11 effective January 1, 2014 and the adoption of this guidance did not have a material impact on the Company’s consolidated statements of operations and financial position. Financial Services - Investment Companies (Topic 946) Amendments to the Scope, Measurement, and Disclosure Requirements In June 2013, the FASB issued ASU No. 2013-08, Amendments to the Scope, Measurement, and Disclosure Requirements (“ASU 2013-08”). The objective of ASU 2013-08 is to change the approach to the investment company assessment, clarify the characteristics of an investment company and provide comprehensive guidance for assessing whether an entity is an investment company. In addition, ASU 2013-08 will require an investment company to measure noncontrolling ownership interests in other investment companies at fair value rather than using the equity method of accounting and require the following additional disclosures: (a) the fact that the entity is an investment company and is applying the guidance, (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. ASU 2013-08 became effective for annual and interim reporting periods beginning after December 15, 2013. The Company prospectively adopted ASU 2013-08 effective January 1, 2014 and the adoption of this guidance did not have a material impact on the Company’s consolidated statements of operations and financial position. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The objective of ASU 2014-08 is to improve the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. ASU 2014-08 will also require expanded disclosures for discontinued operations and require an entity to disclose the pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. ASU 2014-08 is prospectively effective for public business entities in annual periods beginning on or after December 15, 2014, and interim periods beginning on or after December 15, 2015. Entities may early adopt ASU 2014-08 for new disposals that have not been reported in the consolidated financial statements previously issued or available for issuance. The Company is currently evaluating the impact of this guidance; however, it is not expected to have a material impact on the Company’s consolidated statements of operations and financial position. |
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale is reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it may disclose its accounting policy for this election and describe its method of allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations (Tables)
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Jun. 30, 2014
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | Details of the income from discontinued operations for the three and six months ended June 30, 2014 and 2013 are as follows and relate entirely to REAL:
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Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value of Fixed Maturity Investments Trading | The following table summarizes the fair value of fixed maturity investments trading:
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Schedule of Fair Value of Fixed Maturity Investments Available For Sale | The following table summarizes the amortized cost, fair value and related unrealized gains and losses and non-credit other-than-temporary impairments of fixed maturity investments available for sale:
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Schedule of Contractual Maturities of Fixed Maturity Investments | Contractual maturities of fixed maturity investments are as follows. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
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Schedule of Fair Value of Equity Investments Trading | The following table summarizes the fair value of equity investments trading:
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Schedule of Net Investment Income | The components of net investment income are as follows:
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Schedule of Net Realized and Unrealized Gains On Investments and Net Other-Than-Temporary Impairments | The following table provides an analysis of the components of net realized and unrealized gains on investments.
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Schedule of Components of Other Comprehensive Income and Reclassification Out of Accumulated Other Comprehensive Income | The following tables provide an analysis of the components of other comprehensive income and reclassifications out of accumulated other comprehensive income.
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Schedule of Fixed Maturity Investments Available For Sale In Continual Unrealized Loss Position | The following tables provide an analysis of the length of time the Company’s fixed maturity investments available for sale in an unrealized loss have been in a continual unrealized loss position.
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Rollforward of the Amount of Other-Than-Temporary Impairments Related To Credit Losses Recognized in Earnings For Which A Portion Of An Other-Than-Temporary Impairment Was Recognized In Accumulated Other Comprehensive Income | The following table provides a rollforward of the amount of other-than-temporary impairments related to credit losses recognized in earnings for which a portion of an other-than-temporary impairment was recognized in accumulated other comprehensive income:
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- Definition
Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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- Definition
Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). No definition available.
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- Definition
Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. No definition available.
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- Definition
For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of investments in trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | Below is a summary of the assets and liabilities that are measured at fair value on a recurring basis and also represents the carrying amount on the Company’s consolidated balance sheets:
(1) See “Note 12. Derivative Instruments” for additional information related to the fair value by type of contract, of derivatives entered into by the Company.
(1) See “Note 12. Derivative Instruments” for additional information related to the fair value by type of contract, of derivatives entered into by the Company. |
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Schedule Of Quantitative Information Used As Level 3 Inputs | Below is a summary of quantitative information regarding the significant observable and unobservable inputs (Level 3) used in determining the fair value of assets and liabilities measured at fair value on a recurring basis:
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Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Level 3 Inputs | Below is a reconciliation of the beginning and ending balances, for the periods shown, of assets and liabilities measured at fair value on a recurring basis using Level 3 inputs. Interest and dividend income are included in net investment income and are excluded from the reconciliation.
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Schedule Of The Balances The Company Has Elected To Account For At Fair Value | Below is a summary of the balances the Company has elected to account for at fair value:
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Schedule Of Other Investments Measured Using Net Asset Valuations | The table below shows the Company’s portfolio of other investments measured using net asset valuations:
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- Definition
Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the fair value of investees that calculate net asset value per share (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments), whether measured at fair value on a recurring or nonrecurring basis, by major category of assets and liabilities (as defined), including, for example, (i) fair value measurements at the reporting date, (ii) the level within the fair value hierarchy in which the fair value measurements fall, (iii) a reconciliation of beginning and ending balances for those alternative investments that are measured at fair value using unobservable inputs (Level 3 - fair value hierarchy fair value measurement inputs), (iv) the inputs and valuation techniques used to measure fair value, (v) a discussion of changes to valuation techniques and inputs, if any, during the period, (vi) a description of the nature and risk associated with the alternative investments, and (vii) a discussion of the probability that any of the alternative investments are to be sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reinsurance (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effect Of Reinsurance And Retrocessional Activity On Premiums Written And Earned And On Net Claims And Claim Expenses Incurred | The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
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X | ||||||||||
- Definition
Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Noncontrolling Interests (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Noncontrolling Interest [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Activity in Noncontrolling Interest | A summary of the Company’s noncontrolling interests on its consolidated balance sheets is set forth below:
A summary of the Company’s noncontrolling interests on its consolidated statements of operations set forth below:
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Schedule Of Redeemable Noncontrolling Interest | The activity in redeemable noncontrolling interest – DaVinciRe is detailed in the table below:
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Medici
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Noncontrolling Interest [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Noncontrolling Interest | The activity in redeemable noncontrolling interest – Medici is detailed in the table below:
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Angus Fund
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Noncontrolling Interest [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Noncontrolling Interest | The activity in noncontrolling interest – Angus Fund is detailed in the table below:
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X | ||||||||||
- Definition
Schedule of Activity in Noncontrolling Interest [Table Text Block] No definition available.
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X | ||||||||||
- Definition
Schedule Of Noncontrolling Interest [Table Text Block] No definition available.
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- Details
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- Definition
Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. No definition available.
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Earnings Per Share (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share:
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- Details
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X | ||||||||||
- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Reporting (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Segment Reporting, Measurement Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Significant Components Of The Company's Revenues And Expenses | A summary of the significant components of the Company’s revenues and expenses is as follows:
(1) Included in gross premiums written in the Other category is the elimination of inter-segment gross premiums written of $1.0 million.
(1) Included in gross premiums written in the Other category is the elimination of inter-segment gross premiums written of $1.0 million. |
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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Derivative Instruments (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Summary of Derivative Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Location on Consolidated Balance Sheets and Fair Value Of Principal Derivative Instruments | The tables below show the gross and net amounts of recognized derivative assets and liabilities, including the location on the consolidated balance sheets and fair value of the Company’s principal derivative instruments:
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Schedule of Gain (Loss) Recognized In Consolidated Statements Of Operations Related To Principal Derivative Instruments | The location and amount of the gain (loss) recognized in the Company’s consolidated statements of operations related to its principal derivative instruments are shown in the following table:
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X | ||||||||||
- Definition
Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheets |
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Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) |
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Condensed Consolidating Statements Of Cash Flows |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. No definition available.
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Discontinued Operations (Details) (USD $)
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0 Months Ended | 3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|---|
Oct. 02, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
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Jun. 30, 2013
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Expenses | |||||
Income from discontinued operations | $ 2,427,000 | $ 0 | $ 12,201,000 | ||
REAL
|
|||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Cash paid at closing | 60,000,000 | ||||
Loss on sale | (8,800,000) | ||||
Revenues | |||||
Net investment income | 0 | 1,161,000 | 0 | 1,153,000 | |
Net foreign exchange (losses) gains | 0 | (153,000) | 0 | 989,000 | |
Other income | 0 | 1,759,000 | 0 | 10,472,000 | |
Net realized and unrealized losses on investments | 0 | (15,000) | 0 | (13,000) | |
Total revenues | 0 | 2,752,000 | 0 | 12,601,000 | |
Expenses | |||||
Operational expenses | 0 | 31,000 | 0 | 59,000 | |
Corporate expenses | 0 | 59,000 | 0 | 106,000 | |
Total expenses | 0 | 90,000 | 0 | 165,000 | |
Income before taxes | 0 | 2,662,000 | 0 | 12,436,000 | |
Income tax expense | 0 | (236,000) | 0 | (236,000) | |
Income from discontinued operations | $ 0 | $ 2,426,000 | $ 0 | $ 12,200,000 |
X | ||||||||||
- Definition
Disposal Group, Including Discontinued Operation, Benefits, Losses and Expenses No definition available.
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X | ||||||||||
- Definition
Disposal Group, Including Discontinued Operation, Net Investment Income (Loss) No definition available.
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X | ||||||||||
- Definition
Disposal Group, Including Discontinued Operation, Net Realized and Unrealized Gain (Loss) on Investments No definition available.
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X | ||||||||||
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Pretax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Income tax expense or benefit attributable to Income or Loss from discontinued operations during the phase-out period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of foreign currency translation gains or losses included in the disposal group, whether or not a component of the entity (discontinued operation), that were previously reported in accumulated other comprehensive Income or Loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of general and administrative expense attributable to disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of operating expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of other income attributable to disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of investments in debt securities classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. No definition available.
|
X | ||||||||||
- Definition
Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale. No definition available.
|
X | ||||||||||
- Definition
Accumulated other comprehensive loss related to portion of other than temporary impairment (OTTI) due to factors other than credit losses on debt securities categorized as available-for-sale that an entity does not intend to sell and which it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis of the debt security. The amount represented by this item is net of tax, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
X | ||||||||||
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Investments (Schedule of Contractual Maturities of Fixed Maturity Investments) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
---|---|---|
Trading Securities [Abstract] | ||
Trading Debt Securities, Amortized Cost, Due in less than one year | $ 100,250 | |
Trading Debt Securities, Amortized Cost, Due after one through five years | 3,057,740 | |
Trading Debt Securities, Amortized Cost, Due after five through ten years | 520,699 | |
Trading Debt Securities, Amortized Cost, Due after ten years | 102,944 | |
Trading Debt Securities, Amortized Cost | 4,754,480 | |
Trading Debt Securities, Fair Value, Due in less than one year | 100,765 | |
Trading Debt Securities, Fair Value, Due after one through five years | 3,080,879 | |
Trading Debt Securities, Fair Value, Due after five through ten years | 529,811 | |
Trading Debt Securities, Fair Value, Due after ten years | 132,568 | |
Trading Debt Securities, Fair Value | 4,841,609 | |
Available-for-sale Securities [Abstract] | ||
Available for Sale, Amortized Cost, Due in less than one year | 0 | |
Available for Sale, Amortized Cost, Due after one through five years | 0 | |
Available for Sale, Amortized Cost, Due after five through ten years | 0 | |
Available for Sale, Amortized Cost, Due after ten years | 0 | |
Available for Sale, Amortized Cost | 25,512 | 30,273 |
Available for Sale, Fair Value, Due in less than one year | 0 | |
Available for Sale, Fair Value, Due after one through five years | 0 | |
Available for Sale, Fair Value, Due after five through ten years | 0 | |
Available for Sale, Fair Value, Due after ten years | 0 | |
Available for Sale, Fair Value | 29,219 | 34,241 |
Fixed Maturity Investments [Abstract] | ||
Debt Securities, Amortized Cost, Due in less than one year | 100,250 | |
Debt Securities, Amortized Cost, Due after one through five years | 3,057,740 | |
Debt Securities, Amortized Cost, Due after five through ten years | 520,699 | |
Debt Securities, Amortized Cost, Due after ten years | 102,944 | |
Debt Securities, Amortized Cost | 4,779,992 | |
Debt Securities, Fair Value, Due in less than one year | 100,765 | |
Debt Securities, Fair Value, Due after one through give years | 3,080,879 | |
Debt Securities, Fair Value, Due after five through ten years | 529,811 | |
Debt Securities, Fair Value, Due after ten years | 132,568 | |
Debt Securities, Fair Value | 4,870,828 | |
Mortgage-backed
|
||
Trading Securities [Abstract] | ||
Trading Debt Securities, Amortized Cost | 943,257 | |
Trading Debt Securities, Fair Value | 966,244 | |
Available-for-sale Securities [Abstract] | ||
Available for Sale, Amortized Cost | 22,161 | |
Available for Sale, Fair Value | 25,688 | |
Fixed Maturity Investments [Abstract] | ||
Debt Securities, Amortized Cost | 965,418 | |
Debt Securities, Fair Value | 991,932 | |
Asset-backed
|
||
Trading Securities [Abstract] | ||
Trading Debt Securities, Amortized Cost | 29,590 | |
Trading Debt Securities, Fair Value | 31,342 | |
Available-for-sale Securities [Abstract] | ||
Available for Sale, Amortized Cost | 3,351 | |
Available for Sale, Fair Value | 3,531 | |
Fixed Maturity Investments [Abstract] | ||
Debt Securities, Amortized Cost | 32,941 | |
Debt Securities, Fair Value | $ 34,873 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This item represents the fair value of all debt securities grouped by maturity dates and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the total of all debt securities grouped by maturity dates, at cost, net of adjustments made for accretion, amortization, other-than-temporary impairments, and hedging, if any, and are classified as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one through 5 years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature after five through ten years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature after one through five years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature after ten years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature after ten years of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature within one year of the balance sheet date and are categorized as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the total of all debt securities classified as trading, at cost, net of adjustments made for accretion, amortization and collection of cash, if any. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one through 5 years of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature after five through ten years of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature after one through five years of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature after ten years of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature after ten years of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents debt securities, at cost, net of adjustments including accretion, amortization and collection of cash, if any, which are expected to mature within one year of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the fair value of debt securities which are expected to mature within one year of the balance sheet date and are categorized as trading securities. No definition available.
|
X | ||||||||||
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing after the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing after the tenth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the next fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Investments (Schedule of Fair Value of Equity Investments Trading) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
---|---|---|
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | $ 254,408 | $ 254,776 |
Financials
|
||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | 153,099 | 152,905 |
Consumer
|
||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | 18,302 | 44,115 |
Industrial, utilities and energy
|
||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | 32,127 | 25,350 |
Healthcare
|
||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | 15,609 | 15,340 |
Basic materials
|
||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | 4,026 | 12,766 |
Communications and technology
|
||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Equity investments trading | $ 31,245 | $ 4,300 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Fair value of investments in trading equity securities and other forms of trading securities that provide ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Investments (Pledged Investments) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
---|---|---|
Investments [Abstract] | ||
Cash and investments at fair value on deposit with, or in trust accounts for the benefit of various counterparties | $ 2,036.3 | $ 2,081.1 |
Cash and investments at fair value on deposit with, or in trust accounts for the benefit of U.S. state regulatory authorities | $ 673.9 | $ 652.8 |
X | ||||||||||
- Definition
Carrying amount of cash and investment securities on deposit with state regulatory authorities in connection with capital requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of cash and securities held by third party trustees pursuant to terms of debt instruments or other agreements as of the date of each statement of financial position presented, which can be used by the trustee only to pay the noncurrent portion of specified obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Investments (Reverse Purchase Agreements) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
---|---|---|
Investments, Debt and Equity Securities [Abstract] | ||
Value of reverse repurchase agreements | $ 35.9 | $ 37.3 |
Minimum required collateral for reverse repurchase agreements, expressed as a percentage of loan principal | 102.00% |
X | ||||||||||
- Definition
Securities Purchased Under Agreements To Resell Required Collateral Percentage Of Principal No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The carrying value of securities purchased to be resold in reverse repurchase transactions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Investments (Schedule of Net Investment Income) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | $ 37,353 | $ 28,999 | $ 79,135 | $ 75,141 |
Investment expenses | (2,812) | (2,836) | (5,646) | (5,776) |
Net investment income | 34,541 | 26,163 | 73,489 | 69,365 |
Fixed maturity investments
|
||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | 26,372 | 22,839 | 50,232 | 46,725 |
Short term investments
|
||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | 286 | 426 | 476 | 755 |
Equity investments
|
||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | 779 | 344 | 1,575 | 344 |
Other investments, Hedge funds and private equity investments
|
||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | 8,340 | 2,237 | 20,657 | 17,117 |
Other investments, Other
|
||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | 1,483 | 3,144 | 6,011 | 10,139 |
Cash and cash equivalents
|
||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||
Investment income before investment expenses | $ 93 | $ 9 | $ 184 | $ 61 |
X | ||||||||||
- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of expenses related to the generation of investment income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Investments (Schedule of Net Realized and Unrealized Gains on Investments and Net Other-Than-Temporary Impairments) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Gain (Loss) on Investments [Line Items] | ||||
Net realized and unrealized gains on investments | $ 27,128 | $ (69,529) | $ 42,055 | $ (55,260) |
Fixed maturity investments
|
||||
Gain (Loss) on Investments [Line Items] | ||||
Gross realized gains | 12,166 | 17,548 | 25,633 | 51,624 |
Gross realized losses | (2,587) | (14,601) | (8,151) | (19,155) |
Net realized gains on fixed maturity investments | 9,579 | 2,947 | 17,482 | 32,469 |
Net unrealized gains (losses) on investments trading | 29,918 | (95,680) | 57,800 | (118,743) |
Derivatives
|
||||
Gain (Loss) on Investments [Line Items] | ||||
Net realized and unrealized (losses) gains on investments-related derivatives | (6,884) | 20,510 | (17,783) | 20,931 |
Equity investments
|
||||
Gain (Loss) on Investments [Line Items] | ||||
Net unrealized gains (losses) on investments trading | (10,619) | 2,620 | (20,499) | (7,552) |
Net realized gains on equity investments trading | $ 5,134 | $ 74 | $ 5,055 | $ 17,635 |
X | ||||||||||
- Definition
This item represents the gross profit realized on the sale of debt securities categorized as trading or available for sale. No definition available.
|
X | ||||||||||
- Definition
This item represents the net profit realized on the sale of debt securities categorized as trading or available for sale. No definition available.
|
X | ||||||||||
- Definition
This item represents the gross losses realized on the sale of debt securities categorized as trading or available for sale. No definition available.
|
X | ||||||||||
- Definition
Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments and relating to the entity's investment portfolio. No definition available.
|
X | ||||||||||
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This item represents the gain realized during the period from the sale of trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of unrealized holding gain (loss) recognized in the income statement for investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Investments (Schedule of Components of Other Comprehensive Income and Reclassification Out of Accumulated Other Comprehensive Income) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Accumulated Other Comprehensive Income (Loss) Rollforward | ||||
Beginning balance | $ 3,963 | $ 6,050 | $ 4,131 | $ 13,622 |
Other comprehensive income (loss) before reclassifications | (45) | 178 | (213) | (1,533) |
Amounts reclassified from accumulated other comprehensive income by statement of operations line item: | ||||
Realized gains reclassified from accumulated other comprehensive income to net realized and unrealized gains (losses) on investments | (1,319) | (7,180) | ||
Net current-period other comprehensive loss | (1,141) | (8,713) | ||
Ending balance | 3,918 | 4,909 | 3,918 | 4,909 |
Investments in other ventures
|
||||
Accumulated Other Comprehensive Income (Loss) Rollforward | ||||
Beginning balance | 160 | 120 | 163 | 1,625 |
Other comprehensive income (loss) before reclassifications | 51 | 98 | 48 | (1,407) |
Amounts reclassified from accumulated other comprehensive income by statement of operations line item: | ||||
Realized gains reclassified from accumulated other comprehensive income to net realized and unrealized gains (losses) on investments | 0 | 0 | ||
Net current-period other comprehensive loss | 98 | (1,407) | ||
Ending balance | 211 | 218 | 211 | 218 |
Fixed maturity investments available for sale
|
||||
Accumulated Other Comprehensive Income (Loss) Rollforward | ||||
Beginning balance | 3,803 | 5,930 | 3,968 | 11,997 |
Other comprehensive income (loss) before reclassifications | (96) | 80 | (261) | (126) |
Amounts reclassified from accumulated other comprehensive income by statement of operations line item: | ||||
Realized gains reclassified from accumulated other comprehensive income to net realized and unrealized gains (losses) on investments | (1,319) | (7,180) | ||
Net current-period other comprehensive loss | (1,239) | (7,306) | ||
Ending balance | $ 3,707 | $ 4,691 | $ 3,707 | $ 4,691 |
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax, before reclassification adjustments of other comprehensive income (loss). No definition available.
|
X | ||||||||||
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|
Investments (Schedule of Fixed Maturity Investments Available For Sale In Continual Unrealized Loss Position) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2014
|
Dec. 31, 2013
|
|
Schedule of Available-for-sale Securities [Line Items] | ||
Fixed maturity investments available for sale in a unrealized loss position | 2 | 4 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 2 | 2 |
Fixed maturity investments
|
||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 0 | $ 765 |
Less than 12 Months, Unrealized Losses | 0 | (11) |
12 Months or Greater, Fair Value | 76 | 89 |
12 Months or Greater, Unrealized Losses | (3) | (6) |
Total, Fair Value | 76 | 854 |
Total, Unrealized Losses | (3) | (17) |
Agency mortgage-backed
|
||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 726 | |
Less than 12 Months, Unrealized Losses | (11) | |
12 Months or Greater, Fair Value | 0 | |
12 Months or Greater, Unrealized Losses | 0 | |
Total, Fair Value | 726 | |
Total, Unrealized Losses | (11) | |
Non-agency mortgage-backed
|
||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 0 |
Less than 12 Months, Unrealized Losses | 0 | 0 |
12 Months or Greater, Fair Value | 76 | 89 |
12 Months or Greater, Unrealized Losses | (3) | (6) |
Total, Fair Value | 76 | 89 |
Total, Unrealized Losses | (3) | (6) |
Commercial mortgage-backed
|
||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 39 | |
Less than 12 Months, Unrealized Losses | 0 | |
12 Months or Greater, Fair Value | 0 | |
12 Months or Greater, Unrealized Losses | 0 | |
Total, Fair Value | 39 | |
Total, Unrealized Losses | $ 0 |
X | ||||||||||
- Definition
Amount of unrealized loss on securities classified as available-for-sale that have been in a loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of unrealized loss on securities classified as available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of unrealized loss on investments in available-for-sale securities that have been in a loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of investment positions in available-for-sale investments in a continuous unrealized loss position for which an other-than-temporary impairment (OTTI) has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of investment positions in available-for-sale investments that have been in a continuous unrealized loss position for greater than or equal to a year for which an other-than-temporary impairment (OTTI) has not been recognized in the income statement. No definition available.
|
X | ||||||||||
- Details
|
Investments (Rollforward of The Amount of Other-Than-Temporary Impairments Related to Credit Losses Recognized in Earnings for Which a Portion of an Other-Than-Temporary Impairment was Recognized in Accumulated Other Comprehensive Income) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Investments [Abstract] | ||||
Net other-than-temporary impairments | $ 0 | $ 0 | ||
Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | 0 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward] | ||||
Beginning balance | 545 | 811 | 561 | 838 |
Reductions: | ||||
Securities sold during the period | (16) | (20) | (32) | (47) |
Ending balance | $ 529 | $ 791 | $ 529 | $ 791 |
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cumulative amount of credit losses recognized in earnings related to debt securities held for which a portion of an other than temporary impairment (OTTI) was recognized in other comprehensive income (a component of shareholders' equity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents reductions in the cumulative amount of credit losses recognized in earnings for an other than temporary impairment (OTTI) of a debt security because of the sale of impaired securities during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount before tax of other than temporary impairment (OTTI) on investment in available-for-sale debt security, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of other than temporary impairment losses on investments in debt and equity securities categorized as Available-for-sale which have been recognized in earnings during the period. Such impairment losses consist of other than temporary impairments (OTTI) on equity securities, credit losses on investments in debt securities, and when the entity intends to sell an impaired debt security or it is more likely than not that the entity will be required to sell the impaired debt security before recovery of its amortized cost basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
||||
---|---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | $ 4,870,828 | $ 4,843,277 | ||||
Short term investments | 957,698 | 1,044,779 | ||||
Equity investments trading | 254,408 | 254,776 | ||||
Other investments | 513,614 | 573,264 | ||||
Other assets and (liabilities) | 1,277 | (8,233) | ||||
Total assets and liabilities measured on recurring basis | 6,597,825 | 6,707,863 | ||||
U.S. treasuries
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 1,706,929 | 1,352,413 | ||||
Agencies
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 121,650 | 186,050 | ||||
Non-U.S. government (Sovereign Debt)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 271,495 | 334,580 | ||||
Non-U.S. government-backed corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 163,911 | 237,479 | ||||
Corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 1,580,038 | 1,803,415 | ||||
Agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 326,304 | 341,908 | ||||
Non-agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 265,340 | 257,938 | ||||
Commercial mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 400,288 | 314,236 | ||||
Asset-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 34,873 | 15,258 | ||||
Private equity partnerships
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 314,983 | 322,391 | ||||
Catastrophe bonds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 179,465 | 229,016 | ||||
Senior secured bank loan funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 15,976 | 18,048 | ||||
Hedge funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 3,190 | 3,809 | ||||
Derivatives
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | 6,491 | [1] | 4,758 | [1] | ||
Other
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | (5,214) | (12,991) | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 1,706,929 | 1,352,413 | ||||
Short term investments | 0 | 0 | ||||
Equity investments trading | 254,408 | 254,776 | ||||
Other investments | 0 | 0 | ||||
Other assets and (liabilities) | (340) | 823 | ||||
Total assets and liabilities measured on recurring basis | 1,960,997 | 1,608,012 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | U.S. treasuries
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 1,706,929 | 1,352,413 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Agencies
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Non-U.S. government (Sovereign Debt)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Non-U.S. government-backed corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Non-agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Commercial mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Asset-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Private equity partnerships
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Catastrophe bonds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Senior secured bank loan funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Hedge funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Derivatives
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | (340) | [1] | 823 | [1] | ||
Quoted Prices In Active Markets For Identical Assets (Level 1) | Other
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | 0 | 0 | ||||
Significant Other Observable Inputs (Level 2)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 3,117,723 | 3,463,284 | ||||
Short term investments | 957,698 | 1,044,779 | ||||
Equity investments trading | 0 | 0 | ||||
Other investments | 179,465 | 229,016 | ||||
Other assets and (liabilities) | 546 | (6,566) | ||||
Total assets and liabilities measured on recurring basis | 4,255,432 | 4,730,513 | ||||
Significant Other Observable Inputs (Level 2) | U.S. treasuries
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Other Observable Inputs (Level 2) | Agencies
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 121,650 | 186,050 | ||||
Significant Other Observable Inputs (Level 2) | Non-U.S. government (Sovereign Debt)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 271,495 | 334,580 | ||||
Significant Other Observable Inputs (Level 2) | Non-U.S. government-backed corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 163,911 | 237,479 | ||||
Significant Other Observable Inputs (Level 2) | Corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 1,533,862 | 1,775,835 | ||||
Significant Other Observable Inputs (Level 2) | Agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 326,304 | 341,908 | ||||
Significant Other Observable Inputs (Level 2) | Non-agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 265,340 | 257,938 | ||||
Significant Other Observable Inputs (Level 2) | Commercial mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 400,288 | 314,236 | ||||
Significant Other Observable Inputs (Level 2) | Asset-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 34,873 | 15,258 | ||||
Significant Other Observable Inputs (Level 2) | Private equity partnerships
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Significant Other Observable Inputs (Level 2) | Catastrophe bonds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 179,465 | 229,016 | ||||
Significant Other Observable Inputs (Level 2) | Senior secured bank loan funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Significant Other Observable Inputs (Level 2) | Hedge funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Significant Other Observable Inputs (Level 2) | Derivatives
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | 5,760 | [1] | 6,425 | [1] | ||
Significant Other Observable Inputs (Level 2) | Other
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | (5,214) | (12,991) | ||||
Significant Unobservable Inputs (Level 3)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 46,176 | 27,580 | ||||
Short term investments | 0 | 0 | ||||
Equity investments trading | 0 | 0 | ||||
Other investments | 334,149 | 344,248 | ||||
Other assets and (liabilities) | 1,071 | (2,490) | ||||
Total assets and liabilities measured on recurring basis | 381,396 | 369,338 | ||||
Significant Unobservable Inputs (Level 3) | U.S. treasuries
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Agencies
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Non-U.S. government (Sovereign Debt)
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Non-U.S. government-backed corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Corporate
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 46,176 | 27,580 | ||||
Significant Unobservable Inputs (Level 3) | Agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Non-agency mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Commercial mortgage-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Asset-backed
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fixed maturity investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Private equity partnerships
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 314,983 | 322,391 | ||||
Significant Unobservable Inputs (Level 3) | Catastrophe bonds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 0 | 0 | ||||
Significant Unobservable Inputs (Level 3) | Senior secured bank loan funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 15,976 | 18,048 | ||||
Significant Unobservable Inputs (Level 3) | Hedge funds
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other investments | 3,190 | 3,809 | ||||
Significant Unobservable Inputs (Level 3) | Derivatives
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | 1,071 | [1] | (2,490) | [1] | ||
Significant Unobservable Inputs (Level 3) | Other
|
||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Other assets and (liabilities) | $ 0 | $ 0 | ||||
|
X | ||||||||||
- Definition
This element represents the aggregate of the assets and liabilities reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
X | ||||||||||
- Definition
Total Other Assets And liabilities Measured on Recurring Basis No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
For an unclassified balance sheet, this item represents investments in debt securities having predetermined or determinable maturity dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Other investments not otherwise specified in the taxonomy that will be realized in a short period of time, usually less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of investments in trading equity securities and other forms of trading securities that provide ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Narrative) (Details) (USD $)
Share data in Millions, unless otherwise specified |
6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Dec. 31, 2013
|
Jun. 30, 2014
Other Investments
Net investment income
|
Jun. 30, 2013
Other Investments
Net investment income
|
Jun. 30, 2014
Other Investments
Net investment income
|
Jun. 30, 2013
Other Investments
Net investment income
|
Mar. 31, 2010
5.75% Senior Notes Due March 15, 2020
RenRe North America Holdings Inc.
|
Jun. 30, 2014
5.75% Senior Notes Due March 15, 2020
RenRe North America Holdings Inc.
|
Dec. 31, 2013
5.75% Senior Notes Due March 15, 2020
RenRe North America Holdings Inc.
|
Mar. 17, 2010
5.75% Senior Notes Due March 15, 2020
RenRe North America Holdings Inc.
|
Jun. 30, 2014
Significant Other Observable Inputs (Level 2)
|
Dec. 31, 2013
Significant Other Observable Inputs (Level 2)
|
Jun. 30, 2014
Significant Other Observable Inputs (Level 2)
Cash Settled Restricted Stock Unit
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
|
Dec. 31, 2013
Significant Unobservable Inputs (Level 3)
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Minimum
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Maximum
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Weighted Average or Actual
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Senior secured bank loan funds
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Senior secured bank loan funds
Weighted Average or Actual
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Minimum
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Maximum
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Weighted Average or Actual
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Corporate
Discounted Cash Flow Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Corporate
Internal Valuation Model Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Corporate
Weighted Average or Actual
Discounted Cash Flow Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private Equity Funds
Net Asset Valuation Technique
|
Jun. 30, 2014
Quoted Prices In Active Markets For Identical Assets (Level 1)
|
Dec. 31, 2013
Quoted Prices In Active Markets For Identical Assets (Level 1)
|
Jun. 30, 2014
U.S. treasuries
|
Dec. 31, 2013
U.S. treasuries
|
Jun. 30, 2014
Agencies
|
Dec. 31, 2013
Agencies
|
Jun. 30, 2014
Non-U.S. government (Sovereign Debt)
|
Dec. 31, 2013
Non-U.S. government (Sovereign Debt)
|
Jun. 30, 2014
Non-U.S. government-backed corporate
|
Dec. 31, 2013
Non-U.S. government-backed corporate
|
Jun. 30, 2014
Corporate
|
Dec. 31, 2013
Corporate
|
Jun. 30, 2014
Agency mortgage-backed
|
Dec. 31, 2013
Agency mortgage-backed
|
Jun. 30, 2014
Non-agency prime residential mortgage-backed
|
Dec. 31, 2013
Non-agency prime residential mortgage-backed
|
Jun. 30, 2014
AltA non-agency mortgage-backed
|
Dec. 31, 2013
AltA non-agency mortgage-backed
|
Jun. 30, 2014
Commercial mortgage-backed
|
Dec. 31, 2013
Commercial mortgage-backed
|
Jun. 30, 2014
Asset-backed
|
Dec. 31, 2013
Asset-backed
|
Jun. 30, 2014
Senior secured bank loan funds
|
Jun. 30, 2014
Private equity partnerships
|
Jun. 30, 2014
Hedge funds
|
Jul. 28, 2014
Common Shares
Trupanion
Subsequent Event
|
Jun. 30, 2014
Call Rights
|
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities, fair value | $ (1,071,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted average effective yield | 0.90% | 0.80% | 1.40% | 1.30% | 1.20% | 1.30% | 1.30% | 1.10% | 2.70% | 2.70% | 2.20% | 2.90% | 3.20% | 3.70% | 4.00% | 4.70% | 2.00% | 2.10% | 1.30% | 2.00% | |||||||||||||||||||||||||||||||||||||
Weighted average life | 5 years 2 months 12 days | 6 years 2 months 12 days | 4 years 3 months 18 days | 4 years 4 months 24 days | 4 years 6 months 0 days | 4 years | 3 years 10 months 24 days | 3 years 3 months 18 days | 2 years 4 months 24 days | 3 years 6 months | |||||||||||||||||||||||||||||||||||||||||||||||
Other assets and (liabilities) | 1,277,000 | (8,233,000) | 546,000 | (6,566,000) | (5,200,000) | 1,071,000 | (2,490,000) | (340,000) | 823,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Assets, fair value | 381,396,000 | 3,190,000 | 15,976,000 | 314,983,000 | 15,938,000 | 30,238,000 | 314,983,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Owned, Balance, Shares | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Owned, at Fair Value | 25,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend rate | 6.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liquidity discount | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk-free rate | 0.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit spread | 1.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated performance | 0.00% | 0.00% | 0.00% | 0.70% | (3.00%) | 18.90% | 4.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||
5.75% Senior notes issued | 250,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior notes interest rate | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date | March 15, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Senior Notes, Fair value | 269,700,000 | 273,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net unrealized gains (losses) recognized in earnings | 8,879,000 | 10,959,000 | 3,900,000 | (5,300,000) | 8,900,000 | 9,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum estimated liquidation period | 4 years | 7 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum estimated liquidation period | 5 years | 10 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in closed end fund | 16,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hedge fund side pocket investments | 3,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Asset | $ 9,946,000 | $ 10,667,000 | $ 2,200,000 |
X | ||||||||||
- Definition
This item represents the weighted average life in years of debt securities. No definition available.
|
X | ||||||||||
- Definition
Estimated Liquidation Period of Assets, Minimum No definition available.
|
X | ||||||||||
- Definition
Estimated Liquidation Period of Limited Partnership Assets, Maximum No definition available.
|
X | ||||||||||
- Definition
Estimated percentage return for the period on fair value at beginning of period. No definition available.
|
X | ||||||||||
- Definition
This item represents senior secured bank loan funds in a closed end fund, which the Company has no right to redeem. No definition available.
|
X | ||||||||||
- Definition
This item represents 'side pocket' investments which are not redeemable at the option of the shareholder. No definition available.
|
X | ||||||||||
- Definition
Total Other Assets And liabilities Measured on Recurring Basis No definition available.
|
X | ||||||||||
- Definition
This item represents the weighted average effective yield percentage of debt securities. No definition available.
|
X | ||||||||||
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
X | ||||||||||
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Adjustment to the discount rate used to measure fair value for lack of ability to convert business interests into cash quickly. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk associated with risk of default, credit spread risk and downgrade risk, expressed as a percentage, used as an input to measure fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Balance held at close of period in number of shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity. No definition available.
|
X | ||||||||||
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Quantitative Information Used As Level 3 Inputs) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Dec. 31, 2013
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Corporate
Discounted Cash Flow Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Corporate
Discounted Cash Flow Valuation Technique
Weighted Average or Actual
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Corporate
Internal Valuation Model Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Fixed maturity investments
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Net Asset Valuation Technique
Low
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Net Asset Valuation Technique
Maximum
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Net Asset Valuation Technique
Weighted Average or Actual
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Senior secured bank loan funds
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Senior secured bank loan funds
Net Asset Valuation Technique
Weighted Average or Actual
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Net Asset Valuation Technique
Low
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Net Asset Valuation Technique
Maximum
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Net Asset Valuation Technique
Weighted Average or Actual
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Other Investments
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Weather Contract
Internal Valuation Model Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Private equity partnerships
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Senior secured bank loan funds
Net Asset Valuation Technique
|
Jun. 30, 2014
Significant Unobservable Inputs (Level 3)
Hedge funds
Net Asset Valuation Technique
|
|
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||||||||||||||||||||||
Assets, fair value | $ 381,396 | $ 15,938 | $ 30,238 | $ 46,176 | $ 314,983 | $ 15,976 | $ 3,190 | $ 334,149 | $ 314,983 | $ 15,976 | $ 3,190 | |||||||||||
Liabilities, fair value | 1,071 | (1,149) | ||||||||||||||||||||
Derivative Asset | $ 9,946 | $ 10,667 | ||||||||||||||||||||
Credit spread | 1.10% | |||||||||||||||||||||
Liquidity discount | 1.00% | |||||||||||||||||||||
Risk-free rate | 0.30% | |||||||||||||||||||||
Dividend rate | 6.20% | |||||||||||||||||||||
Estimated performance | (3.00%) | 18.90% | 4.00% | 0.70% | 0.00% | 0.00% | 0.00% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Estimated percentage return for the period on fair value at beginning of period. No definition available.
|
X | ||||||||||
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
X | ||||||||||
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Adjustment to the discount rate used to measure fair value for lack of ability to convert business interests into cash quickly. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Risk associated with risk of default, credit spread risk and downgrade risk, expressed as a percentage, used as an input to measure fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity. No definition available.
|
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Level 3 Inputs) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of the period | $ 378,609 | $ 431,574 | $ 369,338 | $ 430,372 |
Total unrealized gains (losses) | ||||
Included in net investment income | 10,796 | (2,259) | 29,446 | 11,032 |
Included in other income (loss) | 2,220 | (676) | 2,220 | (2,646) |
Total foreign exchange gains (losses) | (226) | 364 | (253) | (417) |
Purchases | 10,391 | 18,411 | 25,392 | 29,196 |
Sales | (424) | |||
Settlements | (20,394) | (27,828) | (44,747) | (47,527) |
Reclassified from other assets to other investments | 0 | |||
Balance at end of the period | 381,396 | 420,010 | 381,396 | 420,010 |
Net investment income
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 10,796 | (2,259) | 29,446 | 11,032 |
Other loss
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 2,220 | 2,220 | ||
Fixed maturity investments
|
||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of the period | 37,138 | 28,067 | 27,580 | 27,792 |
Total unrealized gains (losses) | ||||
Included in net investment income | 9,038 | 114 | 18,596 | 389 |
Included in other income (loss) | 0 | 0 | 0 | 0 |
Total foreign exchange gains (losses) | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | |||
Settlements | 0 | (2,500) | 0 | (2,500) |
Reclassified from other assets to other investments | 0 | |||
Balance at end of the period | 46,176 | 25,681 | 46,176 | 25,681 |
Fixed maturity investments | Net investment income
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 9,038 | 114 | 18,596 | 389 |
Fixed maturity investments | Other loss
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 0 | 0 | ||
Other Investments
|
||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of the period | 342,778 | 402,206 | 344,248 | 381,067 |
Total unrealized gains (losses) | ||||
Included in net investment income | 1,579 | (2,373) | 9,455 | 10,643 |
Included in other income (loss) | 0 | 0 | 0 | 0 |
Total foreign exchange gains (losses) | (205) | 364 | (199) | (417) |
Purchases | 10,391 | 18,411 | 25,392 | 29,196 |
Sales | (424) | |||
Settlements | (20,394) | (25,328) | (44,747) | (45,027) |
Reclassified from other assets to other investments | 18,242 | |||
Balance at end of the period | 334,149 | 393,704 | 334,149 | 393,704 |
Other Investments | Net investment income
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 1,579 | (2,373) | 9,455 | 10,643 |
Other Investments | Other loss
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 0 | 0 | ||
Other Assets and Liabilities
|
||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of the period | (1,307) | 1,301 | (2,490) | 21,513 |
Total unrealized gains (losses) | ||||
Included in net investment income | 179 | 0 | 1,395 | 0 |
Included in other income (loss) | 2,220 | (676) | 2,220 | (2,646) |
Total foreign exchange gains (losses) | (21) | 0 | (54) | 0 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | |||
Settlements | 0 | 0 | 0 | 0 |
Reclassified from other assets to other investments | (18,242) | |||
Balance at end of the period | 1,071 | 625 | 1,071 | 625 |
Other Assets and Liabilities | Net investment income
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | 179 | 0 | 1,395 | 0 |
Other Assets and Liabilities | Other loss
|
||||
Total unrealized gains (losses) | ||||
Change in unrealized gains for the period included in earnings for assets held at the end of the period | $ 2,220 | $ 2,220 |
X | ||||||||||
- Definition
This item represents the amount of the total foreign exchange gains or losses for the period which are included in the statement of income in net foreign exchange gains or losses. Such foreign exchange gains or losses relate to those assets or liabilities still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). No definition available.
|
X | ||||||||||
- Definition
This item represents the amount of the total change in unrealized (holding) gains or losses for the period which are included in the statement of income (or changes in net assets) in investment income. The fair value of which assets was or is measured on a recurring basis using significant unobservable inputs (Level 3). No definition available.
|
X | ||||||||||
- Definition
This item represents the amount of the total realized gains or losses for the period which are included in the statement of income (or changes in net assets) in other income. The fair value of which assets was or is measured on a recurring basis using significant unobservable inputs (Level 3). No definition available.
|
X | ||||||||||
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Reclassified from Other Assets No definition available.
|
X | ||||||||||
- Definition
Amount of unrealized (holding) gain (loss) which is included in the statement of income (or changes in net assets) related to those assets still held at the reporting date for which fair value is measured on a recurring basis using significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of purchases of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of sale of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of settlement of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Fair Value Measurements (Summary Of The Balances Company Has Elected To Account For At Fair Value) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
---|---|---|
Fair Value Disclosures [Abstract] | ||
Other investments | $ 513,614 | $ 573,264 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Other investments not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements (Company's Portfolio of Other Investments Measured Using Net Asset Valuations) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
---|---|
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | $ 334,149 |
Unfunded Commitments | 93,801 |
Private equity partnerships
|
|
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | 314,983 |
Unfunded Commitments | 84,529 |
Senior secured bank loan funds
|
|
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | 15,976 |
Unfunded Commitments | 9,272 |
Hedge funds
|
|
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | 3,190 |
Unfunded Commitments | $ 0 |
X | ||||||||||
- Definition
Fair value of investments in certain entities that calculate net asset value per share, including, but not limited to, by unit, membership interest, or other ownership interest. Investments include, but are not limited to, investments in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of unfunded commitments for which the entity is obligated, to those certain investments for which net asset value per share is calculated (including by unit, membership interest, or other equity (ownership interest) unit measure) (alternative investments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Reinsurance (Effect Of Reinsurance And Retrocessional Activity On Premiums Written And Earned And On Net Claims And Claim Expenses) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Premiums written | ||||
Direct | $ 19,707 | $ 16,333 | $ 33,562 | $ 26,650 |
Assumed | 491,833 | 686,890 | 1,183,238 | 1,311,991 |
Ceded | (165,133) | (144,114) | (420,046) | (342,719) |
Net premiums written | 346,407 | 559,109 | 796,754 | 995,922 |
Premiums earned | ||||
Direct | 14,949 | 10,789 | 29,178 | 20,662 |
Assumed | 350,389 | 380,626 | 735,987 | 747,479 |
Ceded | (104,922) | (99,526) | (218,215) | (204,997) |
Net premiums earned | 260,416 | 291,889 | 546,950 | 563,144 |
Claims and claim expenses | ||||
Gross claims and claim expenses incurred | 97,064 | 116,995 | 165,214 | 150,993 |
Claims and claim expenses recovered | (15,676) | (13,033) | (24,911) | (19,780) |
Net claims and claim expenses incurred | $ 81,388 | $ 103,962 | $ 140,303 | $ 131,213 |
X | ||||||||||
- Definition
Amount of earned premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of written premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of written premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount, before effect of policies assumed or ceded, of expense related to provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of recovery (expense) related to provision for policy benefits and costs incurred for policies assumed and ceded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Noncontrolling Interests (Narrative) (Details) (USD $)
|
0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Dec. 31, 2013
|
Dec. 01, 2013
Angus
|
Jun. 30, 2014
Angus
|
Dec. 31, 2013
Angus
|
Sep. 30, 2013
Angus
|
Feb. 28, 2014
DaVinciRe
|
Jun. 30, 2014
DaVinciRe
|
Jun. 30, 2013
DaVinciRe
|
Jun. 30, 2014
DaVinciRe
|
Jun. 30, 2013
DaVinciRe
|
Mar. 31, 2014
DaVinciRe
|
Jan. 31, 2014
DaVinciRe
|
Jan. 03, 2014
DaVinciRe
|
Dec. 31, 2013
DaVinciRe
|
Mar. 31, 2013
DaVinciRe
|
Jan. 02, 2013
DaVinciRe
|
Dec. 31, 2012
DaVinciRe
|
Jan. 31, 2014
DaVinciRe
Redeemable Noncontrolling Interest
|
Jan. 31, 2013
DaVinciRe
Redeemable Noncontrolling Interest
|
Sep. 30, 2013
DaVinciRe
Redeemable Noncontrolling Interest
|
Jun. 30, 2014
DaVinciRe
Redeemable Noncontrolling Interest
Maximum
|
Jun. 01, 2013
Medici
|
Jun. 30, 2014
Medici
|
Jun. 30, 2013
Medici
|
Jun. 30, 2014
Medici
|
Jun. 30, 2013
Medici
|
Mar. 31, 2014
Medici
|
Dec. 31, 2013
Medici
|
Mar. 31, 2013
Medici
|
Dec. 31, 2012
Medici
|
Sep. 30, 2013
Angus Fund
RRV U.S. Holdings LLC
|
Sep. 30, 2013
Angus Fund
RenTech U.S. Holdings LLC
|
|
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||||||||||||||||||||||
Noncontrolling Interest, Redemption Provision, Notice Period | 30 days | ||||||||||||||||||||||||||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | $ 37,200,000 | $ 57,100,000 | |||||||||||||||||||||||||||||||
Parent company ownership in redeemable noncontrolling interest | 26.50% | 26.50% | 26.50% | 27.30% | 32.90% | 30.80% | 49.30% | 49.30% | 73.90% | 1.10% | 35.00% | ||||||||||||||||||||||
Redeemable Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Reserve Holdback Payments | 30,000,000 | ||||||||||||||||||||||||||||||||
Share repurchase requests, limit | 25.00% | ||||||||||||||||||||||||||||||||
Redeemable noncontrolling interest, reserve holdback | 60,000,000 | 20,500,000 | |||||||||||||||||||||||||||||||
Proceeds from sale of partial interest in consolidated subsidiary | 77,400,000 | ||||||||||||||||||||||||||||||||
Redeemable noncontrolling interests | 1,023,892,000 | 1,099,860,000 | 930,231,000 | 889,116,000 | 930,231,000 | 889,116,000 | 895,391,000 | 1,063,368,000 | 875,770,000 | 968,259,000 | 93,661,000 | 8,007,000 | 93,661,000 | 8,007,000 | 91,590,000 | 36,492,000 | 0 | 0 | |||||||||||||||
Issuance of equity to third party investors | 0 | 0 | 9,722,000 | 54,927,000 | 1,699,000 | 8,000,000 | 57,084,000 | 8,000,000 | |||||||||||||||||||||||||
Redeemable noncontrolling interest, net redemptions | 300,000,000 | 150,000,000 | |||||||||||||||||||||||||||||||
Investments in subsidiaries | 0 | 0 | 55,000 | 2,000,000 | |||||||||||||||||||||||||||||
Redemption of shares from redeemable noncontrolling interest | 866,000 | 663,000 | 219,745,000 | 186,894,000 | 1,325,000 | 0 | 0 | 1,875,000 | 0 | ||||||||||||||||||||||||
Non Cash Transfer To Acquire Equity Method Investments | 2,300,000 | ||||||||||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 40.40% | 42.50% | 38.80% | ||||||||||||||||||||||||||||||
Goodwill, Acquired During Period | $ 1,705,000 |
X | ||||||||||
- Definition
This item limits the aggregate of all share repurchase requests to 25% of DaVinciRe's capital in any given year and satisfying all applicable regulatory requirements. If total shareholder requests exceed 25% of DaVinciRe's capital, the number of shares repurchased will be reduced among the requesting shareholders pro-rata, based on the amounts desired to be repurchased. No definition available.
|
X | ||||||||||
- Definition
Non Cash Transfer To Acquire Equity Method Investments No definition available.
|
X | ||||||||||
- Definition
Noncontrolling Interest, Redemption Provision, Notice Period No definition available.
|
X | ||||||||||
- Definition
Proceeds from Divestiture of Partial Interest in Consolidated Subsidiaries No definition available.
|
X | ||||||||||
- Definition
Reserve holdback. No definition available.
|
X | ||||||||||
- Definition
Redeemable Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests, Reserve Holdback Payments No definition available.
|
X | ||||||||||
- Definition
Represents a sale (new stock issuance) by a subsidiary to noncontrolling interests (third parties, parties directly or indirectly unrelated to parent) during the period. The capital transaction by subsidiary does not result in a loss of control by the parent, but does effect a change in total (consolidated) equity attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the period impacting the parent's ownership interest in a subsidiary as it relates to the total (consolidated) equity attributable to the parent. The changes to the parent's ownership interest in a subsidiary represented by this element did not arise in a deconsolidation of the subsidiary from the consolidated financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
X | ||||||||||
- Definition
Amount of increase in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders. No definition available.
|
X | ||||||||||
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Noncontrolling Interests (Schedule Of Redeemable Noncontrolling Interest) (Details) (USD $)
In Thousands, unless otherwise specified |
0 Months Ended | 3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|---|
Jun. 01, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Activity in redeemable noncontrolling interest | |||||
Beginning balance | $ 1,099,860 | ||||
Net income attributable to redeemable noncontrolling interest | 36,078 | 14,015 | 78,846 | 52,622 | |
Ending balance | 1,023,892 | 1,023,892 | |||
DaVinciRe
|
|||||
Activity in redeemable noncontrolling interest | |||||
Beginning balance | 895,391 | 875,770 | 1,063,368 | 968,259 | |
Redemption of shares from redeemable noncontrolling interest | (866) | (663) | (219,745) | (186,894) | |
Sale of shares to redeemable noncontrolling interests | 0 | 0 | 9,722 | 54,927 | |
Net income attributable to redeemable noncontrolling interest | 35,706 | 14,009 | 76,886 | 52,824 | |
Ending balance | 930,231 | 889,116 | 930,231 | 889,116 | |
Medici
|
|||||
Activity in redeemable noncontrolling interest | |||||
Beginning balance | 91,590 | 0 | 36,492 | 0 | |
Redemption of shares from redeemable noncontrolling interest | (1,325) | 0 | 0 | (1,875) | 0 |
Sale of shares to redeemable noncontrolling interests | 1,699 | 8,000 | 57,084 | 8,000 | |
Net income attributable to redeemable noncontrolling interest | 372 | 7 | 1,960 | 7 | |
Ending balance | 93,661 | 8,007 | 93,661 | 8,007 | |
Angus Fund
|
|||||
Activity in redeemable noncontrolling interest | |||||
Net income attributable to redeemable noncontrolling interest | $ 0 | $ (1) | $ 0 | $ (209) |
X | ||||||||||
- Definition
Represents a sale (new stock issuance) by a subsidiary to noncontrolling interests (third parties, parties directly or indirectly unrelated to parent) during the period. The capital transaction by subsidiary does not result in a loss of control by the parent, but does effect a change in total (consolidated) equity attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Noncontrolling Interests (Activity in noncontrolling interest) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|
Activity in noncontrolling interest | ||||
Net loss attributable to noncontrolling interest | $ 36,078 | $ 14,015 | $ 78,846 | $ 52,622 |
Angus Fund
|
||||
Activity in noncontrolling interest | ||||
Beginning balance | 0 | 3,747 | 0 | 3,991 |
Adjustment of ownership interest | 0 | 0 | 0 | 139 |
Net loss attributable to noncontrolling interest | 0 | (1) | 0 | (209) |
Dividends on common shares | 0 | (53) | 0 | (228) |
Ending balance | $ 0 | $ 3,693 | $ 0 | $ 3,693 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net Increase or Decrease in balance of noncontrolling interest in the subsidiary during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Variable Interest Entities (Details) (USD $)
|
3 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
Dec. 31, 2013
|
Dec. 31, 2013
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Jan. 02, 2013
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Jun. 30, 2014
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Mar. 31, 2014
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Jun. 30, 2014
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Jun. 30, 2014
Mona Lisa Re Ltd
Renaissance Reinsurance
|
Jun. 30, 2013
Mona Lisa Re Ltd
Renaissance Reinsurance
|
Jun. 30, 2014
Mona Lisa Re Ltd
DaVinciRe
|
Jun. 30, 2013
Mona Lisa Re Ltd
DaVinciRe
|
Jun. 30, 2014
Mona Lisa Re Ltd
Variable Interest Entity, Not Primary Beneficiary
|
Dec. 31, 2013
Mona Lisa Re Ltd
Variable Interest Entity, Not Primary Beneficiary
|
Jan. 02, 2013
Non-Voting Preference Shares
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Jun. 30, 2014
Non-Voting Preference Shares
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Mar. 31, 2014
Non-Voting Preference Shares
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
Jul. 02, 2013
Non-Voting Preference Shares
Upsilon RFO
Variable Interest Entity, Primary Beneficiary
|
|
Variable Interest Entity [Line Items] | ||||||||||||||||||||
Gross premiums written | $ 511,540,000 | $ 703,223,000 | $ 1,216,800,000 | $ 1,338,641,000 | $ 53,500,000 | $ 2,000,000 | $ 1,200,000 | $ 1,900,000 | $ 1,200,000 | |||||||||||
Ceded premiums earned | 104,922,000 | 99,526,000 | 218,215,000 | 204,997,000 | 5,000,000 | 300,000 | 3,600,000 | 300,000 | ||||||||||||
Issuance of equity to third party investors | 61,000,000 | 43,100,000 | 172,400,000 | |||||||||||||||||
Contributions to subsidiaries | 0 | 0 | 76,400,000 | 13,500,000 | 109,700,000 | |||||||||||||||
Variable interest entity, ownership percentage | 25.80% | 55.60% | 23.90% | 38.90% | ||||||||||||||||
Increase (decrease) in funds held under insurance agreements | 17,500,000 | 5,000,000 | 15,000,000 | |||||||||||||||||
Risk participation percentage | 42.90% | 15.00% | 33.60% | 30.50% | ||||||||||||||||
Proceeds from sale of partial interest in consolidated subsidiary | 25,000,000 | |||||||||||||||||||
Assets | 8,515,625,000 | 8,515,625,000 | 8,179,131,000 | 474,200,000 | 487,000,000 | 487,000,000 | 179,115,000 | 209,615,000 | ||||||||||||
Liabilities | 3,655,792,000 | 3,655,792,000 | 3,174,887,000 | 474,200,000 | 487,000,000 | 487,000,000 | 179,115,000 | 209,615,000 | ||||||||||||
Other liabilities | $ 164,650,000 | $ 164,650,000 | $ 397,596,000 | $ 156,300,000 |
X | ||||||||||
- Definition
Increase (Decrease) In Funds Held Under Insurance Agreements No definition available.
|
X | ||||||||||
- Definition
Proceeds from Divestiture of Partial Interest in Consolidated Subsidiaries No definition available.
|
X | ||||||||||
- Definition
Variable Interest Entity, Qualitative or Quantitative Information, Risk Participation Percentage No definition available.
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents a sale (new stock issuance) by a subsidiary to noncontrolling interests (third parties, parties directly or indirectly unrelated to parent) during the period. The capital transaction by subsidiary does not result in a loss of control by the parent, but does effect a change in total (consolidated) equity attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of direct and assumed premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Shareholders' Equity (Details) (USD $)
|
0 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 13, 2014
|
Mar. 14, 2014
|
Jun. 30, 2014
director
period
|
Jun. 30, 2013
|
Jun. 30, 2014
director
period
|
Jun. 30, 2013
|
Dec. 31, 2013
|
Jun. 30, 2014
Retained Earnings
|
Jun. 30, 2013
Retained Earnings
|
May 20, 2014
Common Shares
|
Jun. 30, 2014
Common Shares
|
Jun. 27, 2013
Series C Preferred Stock
|
Mar. 31, 2004
Series C Preferred Stock
|
Jun. 30, 2014
Series C Preferred Stock
|
Jun. 27, 2013
Series D Preferred Stock
|
Dec. 27, 2012
Series D Preferred Stock
|
Dec. 31, 2006
Series D Preferred Stock
|
May 31, 2013
Series E Preferred Stock
|
Jun. 30, 2014
Series E Preferred Stock
|
Jun. 30, 2013
Series E Preferred Stock
|
|
Class of Stock [Line Items] | ||||||||||||||||||||
Dividends declared, Per common share | $ 0.29 | $ 0.29 | $ 0.28 | $ 0.58 | $ 0.56 | |||||||||||||||
Dividends paid, Per common share | $ 0.29 | $ 0.29 | ||||||||||||||||||
Dividends declared and paid, Preference shares | $ 5,596,000 | $ 7,483,000 | $ 11,191,000 | $ 13,758,000 | $ 11,191,000 | $ 13,758,000 | ||||||||||||||
Dividends declared and paid, Common shares | 23,550,000 | 24,658,000 | ||||||||||||||||||
Common shares repurchased during period, Number of shares | 3,400,000 | |||||||||||||||||||
Common shares repurchased during period, Aggregate amount | 313,312,000 | 117,520,000 | 314,500,000 | |||||||||||||||||
Common shares repurchased during period, Average cost per share | $ 93.53 | |||||||||||||||||||
Share repurchase program, Authorized aggregate amount | 500,000,000 | |||||||||||||||||||
Share repurchase program, Remaining authorized aggregate amount | 500,000,000 | |||||||||||||||||||
Preferred shares, Proceeds from issuance | 250,000,000 | 300,000,000 | 275,000,000 | 0 | 265,655,000 | |||||||||||||||
Preferred shares, Shares issued | 10,000,000 | 12,000,000 | 11,000,000 | |||||||||||||||||
Preferred shares, Issued value per share | $ 1 | $ 1 | $ 1 | $ 25 | $ 25 | $ 25 | ||||||||||||||
Preferred shares, Number of shares redeemed or called | 5,000,000 | 6,000,000 | 6,000,000 | |||||||||||||||||
Preferred shares, Redemption price per share | $ 25 | $ 25 | ||||||||||||||||||
Preferred shares, Dividend rate | 6.08% | 5.375% | ||||||||||||||||||
Preferred shares, Redemption amount, shares | 6,000,000 | |||||||||||||||||||
Preferred shares, Amount of preferred dividends in arrears, equivalent number of periods, trigger | 6 | 6 | ||||||||||||||||||
Preferred shares, Preferred stock dividends in arrears, triggered shareholder election right, number of directors | 2 | 2 | ||||||||||||||||||
Preferred shares, Redemption amount | $ 125,000,000 | $ 150,000,000 | $ 150,000,000 | |||||||||||||||||
Preferred shares, Shares outstanding | 16,000,000 | 16,000,000 | 16,000,000 | 5,000,000 | 0 | 6,000,000 |
X | ||||||||||
- Definition
Preferred Stock, Amount of Preferred Dividends in Arrears, Equivalent Number of Periods, Trigger No definition available.
|
X | ||||||||||
- Definition
Preferred Stock, Preferred Stock Dividends in Arrears, Triggered Shareholder Election Right, Number of Directors No definition available.
|
X | ||||||||||
- Definition
Preferred Stock, Redemption Amount, Shares No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage rate used to calculate dividend payments on preferred stock. No definition available.
|
X | ||||||||||
- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The redemption (or callable) amount of currently redeemable preferred stock. Includes amounts representing dividends not currently declared or paid but which will be payable under the redemption features or for which ultimate payment is solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share at which the preferred stock of an entity that has priority over common stock in the distribution of dividends and in the event of liquidation of the entity is redeemed or may be called at. The redemption features of this preferred stock are solely within the control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholders and which takes precedence over common stockholders in the event of liquidation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of stock bought back by the entity at the exercise price or redemption price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
X | ||||||||||
- Definition
Amount remaining of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
X | ||||||||||
- Definition
Total cost of shares repurchased divided by the total number of shares repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Earnings Per Share (Computation Of Basic And Diluted Earnings Per Common Share) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|||||||
Numerator: | ||||||||||
Net income available to RenaissanceRe common shareholders | $ 120,752 | $ 26,806 | $ 271,755 | $ 217,280 | ||||||
Amount allocated to participating common shareholders | (1,557) | [1] | (376) | [1] | (3,577) | [1] | (3,174) | [1] | ||
Net income allocated to RenaissanceRe common shareholders | $ 119,195 | $ 26,430 | $ 268,178 | $ 214,106 | ||||||
Denominator: | ||||||||||
Denominator for basic income per RenaissanceRe common share - weighted average common shares | 39,736 | 43,372 | 40,487 | 43,453 | ||||||
Per common share equivalents of employee stock options and restricted shares | 659 | 871 | 662 | 850 | ||||||
Denominator for diluted income per RenaissanceRe common share - adjusted weighted average common shares and assumed conversions | 40,395 | 44,243 | 41,149 | 44,303 | ||||||
Net income available to RenaissanceRe common shareholders per common share – basic, in dollars per share | $ 3.00 | $ 0.61 | $ 6.62 | $ 4.93 | ||||||
Net income available to RenaissanceRe common shareholders per common share – diluted, in dollars per share | $ 2.95 | $ 0.60 | $ 6.52 | $ 4.83 | ||||||
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The earnings that is allocated to common stock and participating securities to the extent that each security may share in earnings as if all of the earnings for the period had been distributed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Earnings allocated (not distributed) to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed. No definition available.
|
X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Segment Reporting (Schedule Of Significant Components Of The Company's Revenues And Expenses) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|||||
Segment Reporting Information [Line Items] | ||||||||
Gross premiums written | $ 511,540 | $ 703,223 | $ 1,216,800 | $ 1,338,641 | ||||
Net premiums written | 346,407 | 559,109 | 796,754 | 995,922 | ||||
Net premiums earned | 260,416 | 291,889 | 546,950 | 563,144 | ||||
Net claims and claim expenses incurred | 81,388 | 103,962 | 140,303 | 131,213 | ||||
Acquisition expenses | 33,477 | 31,767 | 67,177 | 56,776 | ||||
Operational expenses | 45,841 | 42,789 | 88,465 | 88,775 | ||||
Underwriting income | 99,710 | 113,371 | 251,005 | 286,380 | ||||
Net investment income | 34,541 | 26,163 | 73,489 | 69,365 | ||||
Net foreign exchange gains (losses) | 2,392 | (932) | 1,331 | (318) | ||||
Equity in earnings of other ventures | 7,232 | 3,772 | 11,431 | 9,607 | ||||
Other loss | (535) | (1,128) | (473) | (2,837) | ||||
Net realized and unrealized gains on investments | 27,128 | (69,529) | 42,055 | (55,260) | ||||
Corporate expenses | (3,954) | (21,529) | (8,499) | (26,011) | ||||
Interest expense | (4,292) | (4,300) | (8,585) | (9,334) | ||||
Income from continuing operations before taxes | 162,222 | 45,888 | 361,754 | 271,592 | ||||
Income tax benefit (expense) | 204 | (11) | 38 | (133) | ||||
Income from discontinued operations | 2,427 | 0 | 12,201 | |||||
Net income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) | ||||
Dividends on preference shares | (5,596) | (7,483) | (11,191) | (13,758) | ||||
Net income available to RenaissanceRe common shareholders | 120,752 | 26,806 | 271,755 | 217,280 | ||||
Net claims and claim expenses incurred - current accident year | 98,471 | 130,789 | 174,079 | 195,689 | ||||
Net claims and claim expenses incurred – prior accident years | (17,083) | (26,827) | (33,776) | (64,476) | ||||
Net claims and claim expenses incurred | 81,388 | 103,962 | 140,303 | 131,213 | ||||
Net claims and claim expense ratio - current accident year | 37.80% | 44.80% | 31.80% | 34.70% | ||||
Net claims and claim expense ratio - prior accident years | (6.50%) | (9.20%) | (6.10%) | (11.40%) | ||||
Net claims and claim expense ratio - calendar year | 31.30% | 35.60% | 25.70% | 23.30% | ||||
Underwriting expense ratio | 30.40% | 25.60% | 28.40% | 25.90% | ||||
Combined ratio | 61.70% | 61.20% | 54.10% | 49.20% | ||||
Intersegment Eliminations
|
||||||||
Segment Reporting Information [Line Items] | ||||||||
Gross premiums written | (1,000) | (1,000) | ||||||
Catastrophe Reinsurance
|
||||||||
Segment Reporting Information [Line Items] | ||||||||
Gross premiums written | 388,083 | 576,903 | 855,794 | 1,055,699 | ||||
Net premiums written | 233,698 | 436,852 | 493,187 | 742,205 | ||||
Net premiums earned | 159,152 | 200,483 | 323,736 | 387,134 | ||||
Net claims and claim expenses incurred | 36,730 | 52,915 | 43,185 | 55,623 | ||||
Acquisition expenses | 17,806 | 14,197 | 24,932 | 23,817 | ||||
Operational expenses | 22,200 | 23,599 | 42,619 | 49,714 | ||||
Underwriting income | 82,416 | 109,772 | 213,000 | 257,980 | ||||
Net claims and claim expenses incurred - current accident year | 38,473 | 71,369 | 51,002 | 92,545 | ||||
Net claims and claim expenses incurred – prior accident years | (1,743) | (18,454) | (7,817) | (36,922) | ||||
Net claims and claim expenses incurred | 36,730 | 52,915 | 43,185 | 55,623 | ||||
Net claims and claim expense ratio - current accident year | 24.20% | 35.60% | 15.80% | 23.90% | ||||
Net claims and claim expense ratio - prior accident years | (1.10%) | (9.20%) | (2.50%) | (9.50%) | ||||
Net claims and claim expense ratio - calendar year | 23.10% | 26.40% | 13.30% | 14.40% | ||||
Underwriting expense ratio | 25.10% | 18.80% | 20.90% | 19.00% | ||||
Combined ratio | 48.20% | 45.20% | 34.20% | 33.40% | ||||
Specialty Reinsurance
|
||||||||
Segment Reporting Information [Line Items] | ||||||||
Gross premiums written | 51,554 | 58,539 | 205,844 | 140,869 | ||||
Net premiums written | 46,254 | 57,348 | 171,743 | 132,867 | ||||
Net premiums earned | 53,588 | 49,206 | 123,218 | 96,015 | ||||
Net claims and claim expenses incurred | 20,075 | 25,511 | 46,156 | 36,203 | ||||
Acquisition expenses | 11,699 | 9,009 | 28,246 | 17,448 | ||||
Operational expenses | 10,514 | 7,595 | 20,620 | 15,155 | ||||
Underwriting income | 11,300 | 7,091 | 28,196 | 27,209 | ||||
Net claims and claim expenses incurred - current accident year | 25,443 | 30,903 | 67,365 | 56,756 | ||||
Net claims and claim expenses incurred – prior accident years | (5,368) | (5,392) | (21,209) | (20,553) | ||||
Net claims and claim expenses incurred | 20,075 | 25,511 | 46,156 | 36,203 | ||||
Net claims and claim expense ratio - current accident year | 47.50% | 62.80% | 54.70% | 59.10% | ||||
Net claims and claim expense ratio - prior accident years | (10.00%) | (11.00%) | (17.20%) | (21.40%) | ||||
Net claims and claim expense ratio - calendar year | 37.50% | 51.80% | 37.50% | 37.70% | ||||
Underwriting expense ratio | 41.40% | 33.80% | 39.60% | 34.00% | ||||
Combined ratio | 78.90% | 85.60% | 77.10% | 71.70% | ||||
Lloyd's
|
||||||||
Segment Reporting Information [Line Items] | ||||||||
Gross premiums written | 71,903 | 68,769 | 155,162 | 143,061 | ||||
Net premiums written | 66,452 | 64,643 | 131,821 | 120,567 | ||||
Net premiums earned | 47,672 | 41,933 | 99,969 | 79,712 | ||||
Net claims and claim expenses incurred | 25,111 | 25,536 | 51,392 | 40,064 | ||||
Acquisition expenses | 10,122 | 8,484 | 20,689 | 15,400 | ||||
Operational expenses | 13,058 | 11,456 | 25,091 | 23,634 | ||||
Underwriting income | (619) | (3,543) | 2,797 | 614 | ||||
Net claims and claim expenses incurred - current accident year | 34,555 | 28,517 | 55,712 | 46,388 | ||||
Net claims and claim expenses incurred – prior accident years | (9,444) | (2,981) | (4,320) | (6,324) | ||||
Net claims and claim expenses incurred | 25,111 | 25,536 | 51,392 | 40,064 | ||||
Net claims and claim expense ratio - current accident year | 72.50% | 68.00% | 55.70% | 58.20% | ||||
Net claims and claim expense ratio - prior accident years | (19.80%) | (7.10%) | (4.30%) | (7.90%) | ||||
Net claims and claim expense ratio - calendar year | 52.70% | 60.90% | 51.40% | 50.30% | ||||
Underwriting expense ratio | 48.60% | 47.50% | 45.80% | 48.90% | ||||
Combined ratio | 101.30% | 108.40% | 97.20% | 99.20% | ||||
Other
|
||||||||
Segment Reporting Information [Line Items] | ||||||||
Gross premiums written | 0 | (988) | [1] | 0 | (988) | [1] | ||
Net premiums written | 3 | 266 | 3 | 283 | ||||
Net premiums earned | 4 | 267 | 27 | 283 | ||||
Net claims and claim expenses incurred | (528) | 0 | (430) | (677) | ||||
Acquisition expenses | (6,150) | 77 | (6,690) | 111 | ||||
Operational expenses | 69 | 139 | 135 | 272 | ||||
Underwriting income | 6,613 | 51 | 7,012 | 577 | ||||
Net investment income | 34,541 | 26,163 | 73,489 | 69,365 | ||||
Net foreign exchange gains (losses) | 2,392 | (932) | 1,331 | (318) | ||||
Equity in earnings of other ventures | 7,232 | 3,772 | 11,431 | 9,607 | ||||
Other loss | (535) | (1,128) | (473) | (2,837) | ||||
Net realized and unrealized gains on investments | 27,128 | (69,529) | 42,055 | (55,260) | ||||
Corporate expenses | (3,954) | (21,529) | (8,499) | (26,011) | ||||
Interest expense | (4,292) | (4,300) | (8,585) | (9,334) | ||||
Income tax benefit (expense) | 204 | (11) | 38 | (133) | ||||
Income from discontinued operations | 2,427 | 12,201 | ||||||
Net income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) | ||||
Dividends on preference shares | (5,596) | (7,483) | (11,191) | (13,758) | ||||
Net claims and claim expenses incurred - current accident year | 0 | 0 | 0 | 0 | ||||
Net claims and claim expenses incurred – prior accident years | (528) | 0 | (430) | (677) | ||||
Net claims and claim expenses incurred | $ (528) | $ 0 | $ (430) | $ (677) | ||||
Net claims and claim expense ratio - current accident year | 0.00% | 0.00% | 0.00% | 0.00% | ||||
Net claims and claim expense ratio - prior accident years | (13200.00%) | 0.00% | (1592.60%) | (239.20%) | ||||
Net claims and claim expense ratio - calendar year | (13200.00%) | 0.00% | (1592.60%) | (239.20%) | ||||
Underwriting expense ratio | (152025.00%) | 80.90% | (24277.80%) | 135.30% | ||||
Combined ratio | (165225.00%) | 80.90% | (25870.40%) | (103.90%) | ||||
|
X | ||||||||||
- Definition
Net claims and claim expense ratio - prior accident years is derived by dividing net claims and claim expenses - prior accident years by net premiums earned. No definition available.
|
X | ||||||||||
- Definition
Net claims and claim expense ratio - current accident year is derived by dividing net claims and claim expense - current accident year by net premiums earned. No definition available.
|
X | ||||||||||
- Definition
Net premiums earned less net claims and claim expenses incurred, acquisition expenses and operational expenses directly related to underwriting activities. No definition available.
|
X | ||||||||||
- Definition
Ratio of non-life losses and loss expenses, non-life acquisition expenses and non-life general and administrative expenses, to non-life net premiums earned. No definition available.
|
X | ||||||||||
- Definition
Amount of expense related to deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total provision in the period for claims incurred and costs incurred in the claim settlement process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of provision in the period for claims incurred in the reporting period and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of provision in the period for claims incurred in prior reporting periods and related claims settlement costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Ratio of non-life losses and loss expenses to non-life net premiums earned. No definition available.
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
|
X | ||||||||||
- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of direct and assumed premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Ratio of non-life acquisition expenses and certain non-life general and administrative expenses, to non-life net premiums earned. No definition available.
|
Derivative Instruments (Narrative) (Details) (USD $)
|
Jun. 30, 2014
|
Dec. 31, 2013
|
---|---|---|
Derivative [Line Items] | ||
Derivative Asset | $ 9,946,000 | $ 10,667,000 |
Interest Rate Contracts | Long
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 523,500,000 | 1,169,300,000 |
Interest Rate Contracts | Short
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 667,400,000 | 356,600,000 |
Foreign Currency Forward Contracts, Underwriting and Non-investment Operations | Long
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 163,600,000 | 263,600,000 |
Foreign Currency Forward Contracts, Underwriting and Non-investment Operations | Short
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 235,500,000 | 139,800,000 |
Foreign Currency Forward Contracts, Investment Operations | Long
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 41,600,000 | 39,600,000 |
Foreign Currency Forward Contracts, Investment Operations | Short
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 153,100,000 | 159,100,000 |
Credit Default Swaps | Long
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 5,000,000 | 7,100,000 |
Credit Default Swaps | Short
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 25,100,000 | 18,400,000 |
Weather Contract | Short
|
||
Derivative [Line Items] | ||
Derivative, Notional Amount | 6,700,000 | 6,400,000 |
Call Rights
|
||
Derivative [Line Items] | ||
Derivative Asset | $ 2,200,000 |
X | ||||||||||
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Derivative Instruments (Consolidated Balance Sheets And Fair Value Of The Principal Derivative Instruments) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
||||||
---|---|---|---|---|---|---|---|---|
Derivative Assets | ||||||||
Gross Amounts of Recognized Assets | $ 14,153 | $ 12,328 | ||||||
Gross Amounts Offset in the Balance Sheet | 4,207 | 1,661 | ||||||
Net Amounts of Assets Presented in the Balance Sheet | 9,946 | 10,667 | ||||||
Collateral | 570 | 310 | ||||||
Net Amount | 9,376 | 10,357 | ||||||
Derivative Liabilities | ||||||||
Gross Amounts of Recognized Liabilities | 3,915 | 6,419 | ||||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 460 | 510 | ||||||
Net Amounts of Liabilities Presented in the Balance Sheet | 3,455 | 5,909 | ||||||
Collateral | 331 | 12 | ||||||
Net Amount | 3,124 | 5,897 | ||||||
Call Rights
|
||||||||
Derivative Assets | ||||||||
Net Amounts of Assets Presented in the Balance Sheet | 2,200 | |||||||
Other Assets | Interest Rate Contracts
|
||||||||
Derivative Assets | ||||||||
Gross Amounts of Recognized Assets | 190 | 897 | ||||||
Gross Amounts Offset in the Balance Sheet | 189 | 62 | ||||||
Net Amounts of Assets Presented in the Balance Sheet | 1 | 835 | ||||||
Collateral | 0 | 0 | ||||||
Net Amount | 1 | 835 | ||||||
Other Assets | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations
|
||||||||
Derivative Assets | ||||||||
Gross Amounts of Recognized Assets | 10,764 | [1] | 9,612 | [1] | ||||
Gross Amounts Offset in the Balance Sheet | 3,747 | [1] | 1,179 | [1] | ||||
Net Amounts of Assets Presented in the Balance Sheet | 7,017 | [1] | 8,433 | [1] | ||||
Collateral | 0 | [1] | 0 | [1] | ||||
Net Amount | 7,017 | [1] | 8,433 | [1] | ||||
Other Assets | Foreign Currency Forward Contracts, Investment Operations
|
||||||||
Derivative Assets | ||||||||
Gross Amounts of Recognized Assets | 249 | [2] | 1,013 | [2] | ||||
Gross Amounts Offset in the Balance Sheet | 238 | [2] | 338 | [2] | ||||
Net Amounts of Assets Presented in the Balance Sheet | 11 | [2] | 675 | [2] | ||||
Collateral | 0 | [2] | 0 | [2] | ||||
Net Amount | 11 | [2] | 675 | [2] | ||||
Other Assets | Credit Default Swaps
|
||||||||
Derivative Assets | ||||||||
Gross Amounts of Recognized Assets | 730 | 806 | ||||||
Gross Amounts Offset in the Balance Sheet | 33 | 82 | ||||||
Net Amounts of Assets Presented in the Balance Sheet | 697 | 724 | ||||||
Collateral | 570 | 310 | ||||||
Net Amount | 127 | 414 | ||||||
Other Assets | Call Rights
|
||||||||
Derivative Assets | ||||||||
Gross Amounts of Recognized Assets | 2,220 | |||||||
Gross Amounts Offset in the Balance Sheet | 0 | |||||||
Net Amounts of Assets Presented in the Balance Sheet | 2,220 | |||||||
Collateral | 0 | |||||||
Net Amount | 2,220 | |||||||
Other Liabilities | Interest Rate Contracts
|
||||||||
Derivative Liabilities | ||||||||
Gross Amounts of Recognized Liabilities | 530 | 74 | ||||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 189 | 62 | ||||||
Net Amounts of Liabilities Presented in the Balance Sheet | 341 | 12 | ||||||
Collateral | 331 | 12 | ||||||
Net Amount | 10 | 0 | ||||||
Other Liabilities | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations
|
||||||||
Derivative Liabilities | ||||||||
Gross Amounts of Recognized Liabilities | 1,042 | [1] | 2,204 | [1] | ||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 0 | [1] | 28 | [1] | ||||
Net Amounts of Liabilities Presented in the Balance Sheet | 1,042 | [1] | 2,176 | [1] | ||||
Collateral | 0 | [1] | 0 | [1] | ||||
Net Amount | 1,042 | [1] | 2,176 | [1] | ||||
Other Liabilities | Foreign Currency Forward Contracts, Investment Operations
|
||||||||
Derivative Liabilities | ||||||||
Gross Amounts of Recognized Liabilities | 1,151 | [2] | 1,557 | [2] | ||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 238 | [2] | 338 | [2] | ||||
Net Amounts of Liabilities Presented in the Balance Sheet | 913 | [2] | 1,219 | [2] | ||||
Collateral | 0 | [2] | 0 | [2] | ||||
Net Amount | 913 | [2] | 1,219 | [2] | ||||
Other Liabilities | Credit Default Swaps
|
||||||||
Derivative Liabilities | ||||||||
Gross Amounts of Recognized Liabilities | 43 | 94 | ||||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 33 | 82 | ||||||
Net Amounts of Liabilities Presented in the Balance Sheet | 10 | 12 | ||||||
Collateral | 0 | 0 | ||||||
Net Amount | 10 | 12 | ||||||
Other Liabilities | Weather Contract
|
||||||||
Derivative Liabilities | ||||||||
Gross Amounts of Recognized Liabilities | 1,149 | 2,490 | ||||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 0 | 0 | ||||||
Net Amounts of Liabilities Presented in the Balance Sheet | 1,149 | 2,490 | ||||||
Collateral | 0 | 0 | ||||||
Net Amount | $ 1,149 | $ 2,490 | ||||||
|
X | ||||||||||
- Definition
Amount of obligation to return cash collateral under master netting arrangements offset against derivative assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of obligation to return cash collateral under master netting arrangements that have not been offset against derivative assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of right to receive cash collateral under master netting arrangements that have not been offset against derivative liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset offset against an obligation to return collateral. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset offset against the right to receive collateral. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of right to receive cash collateral under master netting arrangements offset against derivative liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative Instruments (Gain (Loss) Recognized In The Consolidated Statements Of Operations Related To Its Derivative Instruments) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | $ (6,596) | $ 6,899 | $ (14,795) | $ 11,401 | ||||||||
Net foreign exchange gains (losses) | Foreign Currency Forward Contracts, Underwriting and Non-investment Operations
|
||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | (1,990) | [1] | (13,264) | [1] | 2,109 | [1] | (10,876) | [1] | ||||
Net foreign exchange gains (losses) | Foreign Currency Forward Contracts, Investment Operations
|
||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | 58 | [2] | (332) | [2] | (1,341) | [2] | 1,346 | [2] | ||||
Net realized and unrealized gains (losses) on investments | Interest Rate Contracts
|
||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | (7,362) | 20,203 | (19,636) | 20,205 | ||||||||
Net realized and unrealized gains (losses) on investments | Credit Default Swaps
|
||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | 299 | 292 | 458 | 726 | ||||||||
Net realized and unrealized gains (losses) on investments | Weather Contract
|
||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | 179 | 0 | 1,395 | 0 | ||||||||
Other loss | Call Rights
|
||||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||
Amount of gain (loss) recognized on derivatives | $ 2,220 | $ 0 | $ 2,220 | $ 0 | ||||||||
|
X | ||||||||||
- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Commitments, Contingencies and Other Items (Syndicated Letter of Credit Facility) (Details) (Letter of Credit, Reimbursement Agreement, USD $)
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
---|---|---|---|
Letter of Credit | Reimbursement Agreement
|
|||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Current Borrowing Capacity | $ 100,000,000 | $ 180,000,000 | $ 250,000,000 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 450,000,000 |
X | ||||||||||
- Definition
Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Narrative) (Details) (RenRe North America Holdings Inc., USD $)
|
0 Months Ended | 3 Months Ended | |
---|---|---|---|
Mar. 17, 2010
|
Mar. 31, 2010
|
Jun. 30, 2014
|
|
Debt Instrument [Line Items] | |||
Subsidiary, ownership percentage | 100.00% | ||
5.75% Senior Notes Due March 15, 2020
|
|||
Debt Instrument [Line Items] | |||
Senior notes issuance date | Mar. 17, 2010 | ||
5.75% Senior notes issued | $ 250,000,000 | ||
Senior notes interest rate | 5.75% | ||
Senior notes maturity date | March 15, 2020 |
X | ||||||||||
- Definition
Subsidiary, Ownership Percentage No definition available.
|
X | ||||||||||
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the debt instrument was issued, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Balance Sheet) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2014
|
Dec. 31, 2013
|
Jun. 30, 2013
|
Dec. 31, 2012
|
||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | ||||||||||||
Total investments | $ 6,706,902 | $ 6,821,712 | ||||||||||
Cash and cash equivalents | 294,457 | 408,032 | 234,906 | 304,145 | ||||||||
Investments in subsidiaries | 0 | 0 | ||||||||||
Due from subsidiaries and affiliates | 0 | 0 | ||||||||||
Premiums receivable | 837,116 | 474,087 | ||||||||||
Prepaid reinsurance premiums | 267,963 | 66,132 | ||||||||||
Reinsurance recoverable | 85,115 | 101,025 | ||||||||||
Accrued investment income | 28,019 | 34,065 | ||||||||||
Deferred acquisition costs | 140,765 | 81,684 | ||||||||||
Receivable for investments sold | 58,205 | 75,845 | ||||||||||
Other assets | 97,083 | 116,549 | ||||||||||
Total assets | 8,515,625 | 8,179,131 | ||||||||||
Liabilities | ||||||||||||
Reserve for claims and claim expenses | 1,552,618 | 1,563,730 | ||||||||||
Unearned premiums | 929,523 | 477,888 | ||||||||||
Debt | 249,476 | 249,430 | ||||||||||
Amounts due to subsidiaries and affiliates | 0 | 0 | ||||||||||
Reinsurance balances payable | 558,185 | 293,022 | ||||||||||
Payable for investments purchased | 201,340 | 193,221 | ||||||||||
Other liabilities | 164,650 | 397,596 | ||||||||||
Total liabilities | 3,655,792 | 3,174,887 | ||||||||||
Redeemable noncontrolling interests | 1,023,892 | 1,099,860 | ||||||||||
Shareholders' Equity | ||||||||||||
Total shareholders’ equity | 3,835,941 | 3,904,384 | 3,571,990 | |||||||||
Total liabilities, noncontrolling interests and shareholders’ equity | 8,515,625 | 8,179,131 | ||||||||||
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
||||||||||||
Assets | ||||||||||||
Total investments | 168,982 | 210,719 | ||||||||||
Cash and cash equivalents | 3,194 | 8,796 | 1,636 | 6,298 | ||||||||
Investments in subsidiaries | 3,473,208 | 3,294,729 | ||||||||||
Due from subsidiaries and affiliates | 141,812 | 296,752 | ||||||||||
Premiums receivable | 0 | 0 | ||||||||||
Prepaid reinsurance premiums | 0 | 0 | ||||||||||
Reinsurance recoverable | 0 | 0 | ||||||||||
Accrued investment income | 179 | 0 | ||||||||||
Deferred acquisition costs | 0 | 0 | ||||||||||
Receivable for investments sold | 8 | 14 | ||||||||||
Other assets | 113,130 | 112,234 | ||||||||||
Total assets | 3,900,513 | 3,923,244 | ||||||||||
Liabilities | ||||||||||||
Reserve for claims and claim expenses | 0 | 0 | ||||||||||
Unearned premiums | 0 | 0 | ||||||||||
Debt | 0 | 0 | ||||||||||
Amounts due to subsidiaries and affiliates | 53,698 | 0 | ||||||||||
Reinsurance balances payable | 0 | 0 | ||||||||||
Payable for investments purchased | 0 | 0 | ||||||||||
Other liabilities | 10,874 | 18,860 | ||||||||||
Total liabilities | 64,572 | 18,860 | ||||||||||
Redeemable noncontrolling interests | 0 | 0 | ||||||||||
Shareholders' Equity | ||||||||||||
Total shareholders’ equity | 3,835,941 | 3,904,384 | ||||||||||
Total liabilities, noncontrolling interests and shareholders’ equity | 3,900,513 | 3,923,244 | ||||||||||
RenRe North America Holdings Inc.
|
||||||||||||
Assets | ||||||||||||
Total investments | 98,580 | 98,784 | ||||||||||
Cash and cash equivalents | 3,211 | 4,027 | 4,254 | 1,528 | ||||||||
Investments in subsidiaries | 72,077 | 74,718 | ||||||||||
Due from subsidiaries and affiliates | 24 | 0 | ||||||||||
Premiums receivable | 0 | 0 | ||||||||||
Prepaid reinsurance premiums | 0 | 0 | ||||||||||
Reinsurance recoverable | 0 | 0 | ||||||||||
Accrued investment income | 124 | 110 | ||||||||||
Deferred acquisition costs | 0 | 0 | ||||||||||
Receivable for investments sold | 4 | 0 | ||||||||||
Other assets | 1,362 | 1,481 | ||||||||||
Total assets | 175,382 | 179,120 | ||||||||||
Liabilities | ||||||||||||
Reserve for claims and claim expenses | 0 | 0 | ||||||||||
Unearned premiums | 0 | 0 | ||||||||||
Debt | 249,476 | 249,430 | ||||||||||
Amounts due to subsidiaries and affiliates | 2,420 | 3,173 | ||||||||||
Reinsurance balances payable | 0 | 0 | ||||||||||
Payable for investments purchased | 73 | 0 | ||||||||||
Other liabilities | 7,495 | 6,953 | ||||||||||
Total liabilities | 259,464 | 259,556 | ||||||||||
Redeemable noncontrolling interests | 0 | 0 | ||||||||||
Shareholders' Equity | ||||||||||||
Total shareholders’ equity | (84,082) | (80,436) | ||||||||||
Total liabilities, noncontrolling interests and shareholders’ equity | 175,382 | 179,120 | ||||||||||
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
||||||||||||
Assets | ||||||||||||
Total investments | 6,439,340 | [1] | 6,512,209 | [1] | ||||||||
Cash and cash equivalents | 288,052 | [1] | 395,209 | [1] | 229,016 | [1] | 296,319 | [1] | ||||
Investments in subsidiaries | 0 | [1] | 0 | [1] | ||||||||
Due from subsidiaries and affiliates | 0 | [1] | 0 | [1] | ||||||||
Premiums receivable | 837,116 | [1] | 474,087 | [1] | ||||||||
Prepaid reinsurance premiums | 267,963 | [1] | 66,132 | [1] | ||||||||
Reinsurance recoverable | 85,115 | [1] | 101,025 | [1] | ||||||||
Accrued investment income | 27,716 | [1] | 33,955 | [1] | ||||||||
Deferred acquisition costs | 140,765 | [1] | 81,684 | [1] | ||||||||
Receivable for investments sold | 58,193 | [1] | 75,831 | [1] | ||||||||
Other assets | 84,049 | [1] | 102,834 | [1] | ||||||||
Total assets | 8,228,309 | [1] | 7,842,966 | [1] | ||||||||
Liabilities | ||||||||||||
Reserve for claims and claim expenses | 1,552,618 | [1] | 1,563,730 | [1] | ||||||||
Unearned premiums | 929,523 | [1] | 477,888 | [1] | ||||||||
Debt | 0 | [1] | 0 | [1] | ||||||||
Amounts due to subsidiaries and affiliates | 0 | [1] | 0 | [1] | ||||||||
Reinsurance balances payable | 558,185 | [1] | 293,022 | [1] | ||||||||
Payable for investments purchased | 201,267 | [1] | 193,221 | [1] | ||||||||
Other liabilities | 147,739 | [1] | 371,783 | [1] | ||||||||
Total liabilities | 3,389,332 | [1] | 2,899,644 | [1] | ||||||||
Redeemable noncontrolling interests | 1,023,892 | [1] | 1,099,860 | [1] | ||||||||
Shareholders' Equity | ||||||||||||
Total shareholders’ equity | 3,815,085 | [1] | 3,843,462 | [1] | ||||||||
Total liabilities, noncontrolling interests and shareholders’ equity | 8,228,309 | [1] | 7,842,966 | [1] | ||||||||
Consolidating Adjustments
|
||||||||||||
Assets | ||||||||||||
Total investments | 0 | [2] | 0 | [2] | ||||||||
Cash and cash equivalents | 0 | [2] | 0 | [2] | ||||||||
Investments in subsidiaries | (3,545,285) | [2] | (3,369,447) | [2] | ||||||||
Due from subsidiaries and affiliates | (141,836) | [2] | (296,752) | [2] | ||||||||
Premiums receivable | 0 | [2] | 0 | [2] | ||||||||
Prepaid reinsurance premiums | 0 | [2] | 0 | [2] | ||||||||
Reinsurance recoverable | 0 | [2] | 0 | [2] | ||||||||
Accrued investment income | 0 | [2] | 0 | [2] | ||||||||
Deferred acquisition costs | 0 | [2] | 0 | [2] | ||||||||
Receivable for investments sold | 0 | [2] | 0 | [2] | ||||||||
Other assets | (101,458) | [2] | (100,000) | [2] | ||||||||
Total assets | (3,788,579) | [2] | (3,766,199) | [2] | ||||||||
Liabilities | ||||||||||||
Reserve for claims and claim expenses | 0 | [2] | 0 | [2] | ||||||||
Unearned premiums | 0 | [2] | 0 | [2] | ||||||||
Debt | 0 | [2] | 0 | [2] | ||||||||
Amounts due to subsidiaries and affiliates | (56,118) | [2] | (3,173) | [2] | ||||||||
Reinsurance balances payable | 0 | [2] | 0 | [2] | ||||||||
Payable for investments purchased | 0 | [2] | 0 | [2] | ||||||||
Other liabilities | (1,458) | [2] | 0 | [2] | ||||||||
Total liabilities | (57,576) | [2] | (3,173) | [2] | ||||||||
Redeemable noncontrolling interests | 0 | [2] | 0 | [2] | ||||||||
Shareholders' Equity | ||||||||||||
Total shareholders’ equity | (3,731,003) | [2] | (3,763,026) | [2] | ||||||||
Total liabilities, noncontrolling interests and shareholders’ equity | $ (3,788,579) | [2] | $ (3,766,199) | [2] | ||||||||
|
X | ||||||||||
- Definition
Balance may include, but not limited to, amounts related to other assets and goodwill and other intangible assets. No definition available.
|
X | ||||||||||
- Definition
Interest, dividends, rents, ancillary and other revenues earned but not yet received by the entity on its investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net amount of deferred policy acquisition costs capitalized on contracts remaining in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount payable to broker-dealers and clearing organizations, including, but not limited to, securities failed-to-receive, certain deposits received for securities loaned, open transactions, and floor-brokerage payables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount as of the balance sheet date due the entity from (a) agents and insureds, (b) uncollected premiums and (c) others, net of the allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount receivable from broker-dealers and clearing organizations, including, but not limited to, securities failed-to-deliver, certain deposits for securities borrowed, open transactions, good faith and margin deposits, commissions and floor brokerage receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount as of the balance sheet date of the known and estimated amounts owed to insurers under reinsurance treaties or other arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after valuation allowance recoverable including premium paid under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement Of Operations) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|||||||||
Revenues | ||||||||||||
Net premiums earned | $ 260,416 | $ 291,889 | $ 546,950 | $ 563,144 | ||||||||
Net investment income | 34,541 | 26,163 | 73,489 | 69,365 | ||||||||
Net foreign exchange gains (losses) | 2,392 | (932) | 1,331 | (318) | ||||||||
Equity in earnings of other ventures | 7,232 | 3,772 | 11,431 | 9,607 | ||||||||
Other loss | (535) | (1,128) | (473) | (2,837) | ||||||||
Net realized and unrealized gains on investments | 27,128 | (69,529) | 42,055 | (55,260) | ||||||||
Total revenues | 331,174 | 250,235 | 674,783 | 583,701 | ||||||||
Expenses | ||||||||||||
Net claims and claim expenses incurred | 81,388 | 103,962 | 140,303 | 131,213 | ||||||||
Acquisition expenses | 33,477 | 31,767 | 67,177 | 56,776 | ||||||||
Operational expenses | 45,841 | 42,789 | 88,465 | 88,775 | ||||||||
Corporate expenses | 3,954 | 21,529 | 8,499 | 26,011 | ||||||||
Interest expense | 4,292 | 4,300 | 8,585 | 9,334 | ||||||||
Total expenses | 168,952 | 204,347 | 313,029 | 312,109 | ||||||||
(Loss) income before equity in net income (loss) of subsidiaries and taxes | 162,222 | 45,888 | 361,754 | 271,592 | ||||||||
Equity in net income (loss) of subsidiaries | 0 | 0 | 0 | 0 | ||||||||
Income from continuing operations before taxes | 162,222 | 45,888 | 361,754 | 271,592 | ||||||||
Income tax benefit (expense) | 204 | (11) | 38 | (133) | ||||||||
Income from continuing operations | 162,426 | 45,877 | 361,792 | 271,459 | ||||||||
Income from discontinued operations | 2,427 | 0 | 12,201 | |||||||||
Net income | 162,426 | 48,304 | 361,792 | 283,660 | ||||||||
Net income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) | ||||||||
Net income (loss) attributable to RenaissanceRe | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
Dividends on preference shares | (5,596) | (7,483) | (11,191) | (13,758) | ||||||||
Net income available to RenaissanceRe common shareholders | 120,752 | 26,806 | 271,755 | 217,280 | ||||||||
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
||||||||||||
Revenues | ||||||||||||
Net premiums earned | 0 | 0 | 0 | 0 | ||||||||
Net investment income | 736 | 668 | 1,361 | 2,218 | ||||||||
Net foreign exchange gains (losses) | 6 | 0 | 7 | (50) | ||||||||
Equity in earnings of other ventures | 0 | 0 | 0 | 0 | ||||||||
Other loss | 0 | 0 | 0 | 106 | ||||||||
Net realized and unrealized gains on investments | 190 | (158) | 84 | (1,444) | ||||||||
Total revenues | 932 | 510 | 1,452 | 830 | ||||||||
Expenses | ||||||||||||
Net claims and claim expenses incurred | 0 | 0 | 0 | 0 | ||||||||
Acquisition expenses | 0 | 0 | 0 | 0 | ||||||||
Operational expenses | (1,236) | (1,241) | (2,116) | (2,463) | ||||||||
Corporate expenses | 3,468 | 21,007 | 7,470 | 24,909 | ||||||||
Interest expense | 0 | 0 | 0 | 734 | ||||||||
Total expenses | 2,232 | 19,766 | 5,354 | 23,180 | ||||||||
(Loss) income before equity in net income (loss) of subsidiaries and taxes | (1,300) | (19,256) | (3,902) | (22,350) | ||||||||
Equity in net income (loss) of subsidiaries | 127,648 | 53,545 | 286,848 | 253,388 | ||||||||
Income from continuing operations before taxes | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
Income tax benefit (expense) | 0 | 0 | 0 | 0 | ||||||||
Income from continuing operations | 34,289 | 231,038 | ||||||||||
Income from discontinued operations | 0 | 0 | ||||||||||
Net income | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to RenaissanceRe | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
Dividends on preference shares | (5,596) | (7,483) | (11,191) | (13,758) | ||||||||
Net income available to RenaissanceRe common shareholders | 120,752 | 26,806 | 271,755 | 217,280 | ||||||||
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
||||||||||||
Revenues | ||||||||||||
Net premiums earned | 0 | 0 | 0 | 0 | ||||||||
Net investment income | 445 | 37 | 919 | 236 | ||||||||
Net foreign exchange gains (losses) | 0 | (2) | 0 | (2) | ||||||||
Equity in earnings of other ventures | 0 | 0 | 0 | 0 | ||||||||
Other loss | 0 | 0 | (8) | 0 | ||||||||
Net realized and unrealized gains on investments | 4,340 | (145) | 4,717 | (114) | ||||||||
Total revenues | 4,785 | (110) | 5,628 | 120 | ||||||||
Expenses | ||||||||||||
Net claims and claim expenses incurred | 0 | 0 | 0 | 0 | ||||||||
Acquisition expenses | 0 | 0 | 0 | 0 | ||||||||
Operational expenses | 1,684 | 1,568 | 3,578 | 4,017 | ||||||||
Corporate expenses | 59 | 59 | 118 | 118 | ||||||||
Interest expense | 3,616 | 3,616 | 7,233 | 7,233 | ||||||||
Total expenses | 5,359 | 5,243 | 10,929 | 11,368 | ||||||||
(Loss) income before equity in net income (loss) of subsidiaries and taxes | (574) | (5,353) | (5,301) | (11,248) | ||||||||
Equity in net income (loss) of subsidiaries | (38) | (4,197) | 815 | (3,838) | ||||||||
Income from continuing operations before taxes | (612) | (9,550) | (4,486) | (15,086) | ||||||||
Income tax benefit (expense) | (38) | (313) | 646 | (5) | ||||||||
Income from continuing operations | (9,863) | (15,091) | ||||||||||
Income from discontinued operations | 2,427 | 12,201 | ||||||||||
Net income | (650) | (7,436) | (3,840) | (2,890) | ||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||||||
Net income (loss) attributable to RenaissanceRe | (650) | (7,436) | (3,840) | (2,890) | ||||||||
Dividends on preference shares | 0 | 0 | 0 | 0 | ||||||||
Net income available to RenaissanceRe common shareholders | (650) | (7,436) | (3,840) | (2,890) | ||||||||
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
||||||||||||
Revenues | ||||||||||||
Net premiums earned | 260,416 | [1] | 291,889 | [1] | 546,950 | [1] | 563,144 | [1] | ||||
Net investment income | 34,293 | [1] | 26,403 | [1] | 73,079 | [1] | 68,808 | [1] | ||||
Net foreign exchange gains (losses) | 2,386 | [1] | (930) | [1] | 1,324 | [1] | (266) | [1] | ||||
Equity in earnings of other ventures | 7,232 | [1] | 3,772 | [1] | 11,431 | [1] | 9,607 | [1] | ||||
Other loss | (535) | [1] | (1,128) | [1] | (465) | [1] | (2,943) | [1] | ||||
Net realized and unrealized gains on investments | 22,598 | [1] | (69,226) | [1] | 37,254 | [1] | (53,702) | [1] | ||||
Total revenues | 326,390 | [1] | 250,780 | [1] | 669,573 | [1] | 584,648 | [1] | ||||
Expenses | ||||||||||||
Net claims and claim expenses incurred | 81,388 | [1] | 103,962 | [1] | 140,303 | [1] | 131,213 | [1] | ||||
Acquisition expenses | 33,477 | [1] | 31,767 | [1] | 67,177 | [1] | 56,776 | [1] | ||||
Operational expenses | 45,483 | [1] | 42,314 | [1] | 87,171 | [1] | 87,221 | [1] | ||||
Corporate expenses | 427 | [1] | 463 | [1] | 911 | [1] | 984 | [1] | ||||
Interest expense | 676 | [1] | 684 | [1] | 1,352 | [1] | 1,367 | [1] | ||||
Total expenses | 161,451 | [1] | 179,190 | [1] | 296,914 | [1] | 277,561 | [1] | ||||
(Loss) income before equity in net income (loss) of subsidiaries and taxes | 164,939 | [1] | 71,590 | [1] | 372,659 | [1] | 307,087 | [1] | ||||
Equity in net income (loss) of subsidiaries | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | ||||
Income from continuing operations before taxes | 164,939 | [1] | 71,590 | [1] | 372,659 | [1] | 307,087 | [1] | ||||
Income tax benefit (expense) | 242 | [1] | 302 | [1] | (608) | [1] | (128) | [1] | ||||
Income from continuing operations | 71,892 | [1] | 306,959 | [1] | ||||||||
Income from discontinued operations | 0 | [1] | 0 | [1] | ||||||||
Net income | 165,181 | [1] | 71,892 | [1] | 372,051 | [1] | 306,960 | [1] | ||||
Net income attributable to noncontrolling interests | (36,078) | [1] | (14,015) | [1] | (78,846) | [1] | (52,622) | [1] | ||||
Net income (loss) attributable to RenaissanceRe | 129,103 | [1] | 57,877 | [1] | 293,205 | [1] | 254,338 | [1] | ||||
Dividends on preference shares | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | ||||
Net income available to RenaissanceRe common shareholders | 129,103 | [1] | 57,877 | [1] | 293,205 | [1] | 254,338 | [1] | ||||
Consolidating Adjustments
|
||||||||||||
Revenues | ||||||||||||
Net premiums earned | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Net investment income | (933) | [2] | (945) | [2] | (1,870) | [2] | (1,897) | [2] | ||||
Net foreign exchange gains (losses) | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Equity in earnings of other ventures | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Other loss | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Net realized and unrealized gains on investments | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Total revenues | (933) | [2] | (945) | [2] | (1,870) | [2] | (1,897) | [2] | ||||
Expenses | ||||||||||||
Net claims and claim expenses incurred | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Acquisition expenses | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Operational expenses | (90) | [2] | 148 | [2] | (168) | [2] | 0 | [2] | ||||
Corporate expenses | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Interest expense | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Total expenses | (90) | [2] | 148 | [2] | (168) | [2] | 0 | [2] | ||||
(Loss) income before equity in net income (loss) of subsidiaries and taxes | (843) | [2] | (1,093) | [2] | (1,702) | [2] | (1,897) | [2] | ||||
Equity in net income (loss) of subsidiaries | (127,610) | [2] | (49,348) | [2] | (287,663) | [2] | (249,550) | [2] | ||||
Income from continuing operations before taxes | (128,453) | [2] | (50,441) | [2] | (289,365) | [2] | (251,447) | [2] | ||||
Income tax benefit (expense) | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Income from continuing operations | (50,441) | [2] | (251,447) | [2] | ||||||||
Income from discontinued operations | 0 | [2] | 0 | [2] | ||||||||
Net income | (128,453) | [2] | (50,441) | [2] | (289,365) | [2] | (251,448) | [2] | ||||
Net income attributable to noncontrolling interests | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Net income (loss) attributable to RenaissanceRe | (128,453) | [2] | (50,441) | [2] | (289,365) | [2] | (251,448) | [2] | ||||
Dividends on preference shares | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Net income available to RenaissanceRe common shareholders | $ (128,453) | [2] | $ (50,441) | [2] | $ (289,365) | [2] | $ (251,448) | [2] | ||||
|
X | ||||||||||
- Definition
The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of expense related to deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
|
X | ||||||||||
- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement of Comprehensive Income (Loss) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
|
Jun. 30, 2013
|
|||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Net income | $ 162,426 | $ 48,304 | $ 361,792 | $ 283,660 | ||||||||
Change in net unrealized gains on investments | (45) | (1,141) | (213) | (8,713) | ||||||||
Portion of other-than-temporary impairments recognized in other comprehensive income | 0 | 0 | ||||||||||
Comprehensive income | 162,381 | 47,163 | 361,579 | 274,947 | ||||||||
Net income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) | ||||||||
Comprehensive income attributable to noncontrolling interests | (36,078) | (14,015) | (78,846) | (52,622) | ||||||||
Comprehensive income attributable to RenaissanceRe | 126,303 | 33,148 | 282,733 | 222,325 | ||||||||
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Net income | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
Change in net unrealized gains on investments | 0 | 0 | 0 | 0 | ||||||||
Comprehensive income | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||||||
Comprehensive income attributable to RenaissanceRe | 126,348 | 34,289 | 282,946 | 231,038 | ||||||||
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Net income | (650) | (7,436) | (3,840) | (2,890) | ||||||||
Change in net unrealized gains on investments | 0 | 0 | 0 | 0 | ||||||||
Comprehensive income | (650) | (7,436) | (3,840) | (2,890) | ||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | 0 | ||||||||
Comprehensive income attributable to RenaissanceRe | (650) | (7,436) | (3,840) | (2,890) | ||||||||
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Net income | 165,181 | [1] | 71,892 | [1] | 372,051 | [1] | 306,960 | [1] | ||||
Change in net unrealized gains on investments | (45) | [1] | (1,141) | [1] | (213) | [1] | (8,713) | [1] | ||||
Comprehensive income | 165,136 | [1] | 70,751 | [1] | 371,838 | [1] | 298,247 | [1] | ||||
Net income attributable to noncontrolling interests | (36,078) | [1] | (14,015) | [1] | (78,846) | [1] | (52,622) | [1] | ||||
Comprehensive income attributable to noncontrolling interests | (36,078) | [1] | (14,015) | [1] | (78,846) | [1] | (52,622) | [1] | ||||
Comprehensive income attributable to RenaissanceRe | 129,058 | [1] | 56,736 | [1] | 292,992 | [1] | 245,625 | [1] | ||||
Consolidating Adjustments
|
||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Net income | (128,453) | [2] | (50,441) | [2] | (289,365) | [2] | (251,448) | [2] | ||||
Change in net unrealized gains on investments | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Comprehensive income | (128,453) | [2] | (50,441) | [2] | (289,365) | [2] | (251,448) | [2] | ||||
Net income attributable to noncontrolling interests | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Comprehensive income attributable to noncontrolling interests | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ||||
Comprehensive income attributable to RenaissanceRe | $ (128,453) | [2] | $ (50,441) | [2] | $ (289,365) | [2] | $ (251,448) | [2] | ||||
|
X | ||||||||||
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount after tax of income (loss) attributable to other redeemable noncontrolling equity holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax of other than temporary impairment (OTTI) on investment in available-for-sale debt security, recognized in other comprehensive loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Consolidating Financial Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $)
|
6 Months Ended | |||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2014
|
Jun. 30, 2013
|
Jun. 30, 2014
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
Jun. 30, 2013
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
Jun. 30, 2014
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
Jun. 30, 2013
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
Jun. 30, 2014
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
Jun. 30, 2013
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
Jun. 30, 2014
Series C Preferred Stock
|
Jun. 30, 2013
Series C Preferred Stock
|
Jun. 30, 2013
Series C Preferred Stock
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
Jun. 30, 2013
Series C Preferred Stock
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
Jun. 30, 2013
Series C Preferred Stock
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
Jun. 30, 2014
Series D Preferred Stock
|
Jun. 30, 2013
Series D Preferred Stock
|
Jun. 30, 2013
Series D Preferred Stock
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
Jun. 30, 2013
Series D Preferred Stock
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
Jun. 30, 2013
Series D Preferred Stock
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
Jun. 30, 2014
Series E Preferred Stock
|
Jun. 30, 2013
Series E Preferred Stock
|
Jun. 30, 2013
Series E Preferred Stock
RenaissanceRe Holdings Ltd. (Parent Guarantor)
|
Jun. 30, 2013
Series E Preferred Stock
RenRe North America Holdings Inc. (Subsidiary Issuer)
|
Jun. 30, 2013
Series E Preferred Stock
Other RenaissanceRe Holdings Ltd. Subsidiaries And Eliminations (Non-Guarantor Subsidiaries)
|
||||||||
Cash flows (used in) provided by operating activities: | ||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ 173,386,000 | $ 177,419,000 | $ (14,828,000) | $ (42,805,000) | $ (8,410,000) | $ (20,926,000) | $ 196,624,000 | [1] | $ 241,150,000 | [1] | ||||||||||||||||||||
Cash flows provided by investing activities | ||||||||||||||||||||||||||||||
Proceeds from sales and maturities of fixed maturity investments trading | 4,020,174,000 | 4,448,449,000 | 4,912,000 | 409,514,000 | 5,353,000 | 64,535,000 | 4,009,909,000 | [1] | 3,974,400,000 | [1] | ||||||||||||||||||||
Purchases of fixed maturity investments trading | (3,970,317,000) | (4,225,188,000) | (79,714,000) | (20,604,000) | 0 | (43,799,000) | (3,890,603,000) | [1] | (4,160,785,000) | [1] | ||||||||||||||||||||
Proceeds from sales and maturities of fixed maturity investments available for sale | 5,114,000 | 41,338,000 | 0 | 0 | 0 | 0 | 5,114,000 | [1] | 41,338,000 | [1] | ||||||||||||||||||||
Net purchases of equity investments trading | (11,146,000) | (35,958,000) | 0 | 0 | (370,000) | 0 | (10,776,000) | [1] | (35,958,000) | [1] | ||||||||||||||||||||
Net sales (purchases) of short term investments | 89,549,000 | (110,562,000) | 116,511,000 | 98,000,000 | (68,000) | 10,396,000 | (26,894,000) | [1] | (218,958,000) | [1] | ||||||||||||||||||||
Net sales of other investments | 68,684,000 | 42,935,000 | 0 | 0 | 0 | 0 | 68,684,000 | [1] | 42,935,000 | [1] | ||||||||||||||||||||
Net sales (purchases) of investments in other ventures | 1,030,000 | (2,500,000) | 0 | 0 | 0 | 0 | 1,030,000 | [1] | (2,500,000) | [1] | ||||||||||||||||||||
Net sales of other assets | 6,000,000 | 598,000 | 0 | 0 | 0 | 0 | 6,000,000 | 598,000 | [1] | |||||||||||||||||||||
Dividends and return of capital from subsidiaries | 0 | 0 | 359,891,000 | 128,922,000 | 5,406,000 | 4,806,000 | (365,297,000) | [1] | (133,728,000) | [1] | ||||||||||||||||||||
Contributions to subsidiaries | 0 | 0 | (47,220,000) | (296,179,000) | (1,950,000) | (12,625,000) | 49,170,000 | [1] | 308,804,000 | [1] | ||||||||||||||||||||
Due to (from) subsidiary | 0 | 0 | 4,123,000 | (11,753,000) | (777,000) | 339,000 | (3,346,000) | [1] | 11,414,000 | [1] | ||||||||||||||||||||
Net cash provided by investing activities | 209,088,000 | 159,112,000 | 358,503,000 | 307,900,000 | 7,594,000 | 23,652,000 | (157,009,000) | [1] | (172,440,000) | [1] | ||||||||||||||||||||
Cash flows provided by (used in) financing activities | ||||||||||||||||||||||||||||||
Dividends paid – RenaissanceRe common shares | (23,550,000) | (24,658,000) | (23,550,000) | (24,658,000) | 0 | 0 | 0 | [1] | 0 | [1] | ||||||||||||||||||||
Dividends paid – preference shares | (11,191,000) | (13,758,000) | (11,191,000) | (13,758,000) | 0 | 0 | 0 | [1] | 0 | [1] | ||||||||||||||||||||
RenaissanceRe common share repurchases | (314,536,000) | (121,996,000) | (314,536,000) | (121,996,000) | 0 | 0 | 0 | [1] | 0 | [1] | ||||||||||||||||||||
Net (repayment) drawdown of debt | 0 | (101,410,000) | (100,000,000) | 0 | (1,410,000) | [1] | ||||||||||||||||||||||||
Redemption of preference stock | 0 | (125,000,000) | (125,000,000) | 0 | 0 | [1] | 0 | (150,000,000) | (150,000,000) | 0 | 0 | [1] | ||||||||||||||||||
Issuance of 5.375% Series E preference shares, net of expenses | 0 | 265,655,000 | 265,655,000 | 0 | 0 | [1] | ||||||||||||||||||||||||
Net third party redeemable noncontrolling interest share transactions | (144,096,000) | (105,633,000) | 0 | 0 | 0 | 0 | (144,096,000) | [1] | (105,633,000) | [1] | ||||||||||||||||||||
Net cash used in financing activities | (493,373,000) | (376,800,000) | (349,277,000) | (269,757,000) | 0 | 0 | (144,096,000) | [1] | (107,043,000) | [1] | ||||||||||||||||||||
Effect of exchange rate changes on foreign currency cash | (2,676,000) | 505,000 | 0 | 0 | 0 | 0 | (2,676,000) | [1] | 505,000 | [1] | ||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (113,575,000) | (39,764,000) | (5,602,000) | (4,662,000) | (816,000) | 2,726,000 | (107,157,000) | [1] | (37,828,000) | [1] | ||||||||||||||||||||
Net increase in cash and cash equivalents of discontinued operations | 0 | (29,475,000) | 0 | 0 | (29,475,000) | [1] | ||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 408,032,000 | 304,145,000 | 8,796,000 | 6,298,000 | 4,027,000 | 1,528,000 | 395,209,000 | [1] | 296,319,000 | [1] | ||||||||||||||||||||
Cash and cash equivalents, end of period | $ 294,457,000 | $ 234,906,000 | $ 3,194,000 | $ 1,636,000 | $ 3,211,000 | $ 4,254,000 | $ 288,052,000 | [1] | $ 229,016,000 | [1] | ||||||||||||||||||||
|
X | ||||||||||
- Definition
Amount of cash inflow or outflow to settle intercompany receivables or payables with an entity that is affiliated with the reporting entity by means of direct or indirect ownership. No definition available.
|
X | ||||||||||
- Definition
The net cash inflow (outflow) associated with the acquisition or disposal of other investments during the period. No definition available.
|
X | ||||||||||
- Definition
The net amount paid (received) by the reporting entity through acquisition (sale/maturities) of short-term investments with an original maturity that is one year or less which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. No definition available.
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Increase (decrease) in cash associated with the entity's discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to reacquire preferred stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow during the period for redemption of redeemable noncontrolling interests. No definition available.
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to preferred shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
X | ||||||||||
- Definition
The cash inflow from an entity that is affiliated with the entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholders and which takes precedence over common stockholders in the event of liquidation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from sales and purchases of trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale, maturities, repayments and calls of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
Subsequent Events (Details) (DaVinciRe, USD $)
In Millions, unless otherwise specified |
Jun. 30, 2014
|
Jan. 03, 2014
|
Dec. 31, 2013
|
Jan. 02, 2013
|
Dec. 31, 2012
|
Sep. 30, 2013
Redeemable Noncontrolling Interest
|
Jul. 02, 2014
Subsequent Event
|
Jul. 02, 2014
Subsequent Event
Redeemable Noncontrolling Interest
|
---|---|---|---|---|---|---|---|---|
Subsequent Event [Line Items] | ||||||||
Issuance of equity to third party investors | $ 77.4 | $ 38.9 | ||||||
Parent company ownership in redeemable noncontrolling interest | 26.50% | 26.50% | 27.30% | 32.90% | 30.80% | 23.40% |
X | ||||||||||
- Definition
Proceeds from Divestiture of Partial Interest in Consolidated Subsidiaries No definition available.
|
X | ||||||||||
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
X | ||||||||||
- Details
|