v3.25.4
SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s reportable segments are defined as follows: (1) Property, which is comprised of catastrophe and other property (re)insurance written on behalf of the Company’s consolidated operating subsidiaries, joint ventures and managed funds, and (2) Casualty and Specialty, which is comprised of casualty and specialty (re)insurance written on behalf of the Company’s consolidated operating subsidiaries, joint ventures and managed funds. In addition to its reportable segments, the Company has an Other category, which primarily includes its investments unit, strategic investments, corporate expenses, certain expenses related to acquisitions and dispositions, capital servicing costs, income tax benefit (expense) and noncontrolling interests.
The Company’s reportable segments each have executive leadership who are responsible for the overall performance of their respective segments and who are directly accountable to the Company’s chief operating decision maker (“CODM”), the Chief Executive Officer of RenaissanceRe, who is ultimately responsible for reviewing the business to assess performance, make operating decisions and allocate
resources. The Company reports the results of its operations consistent with the manner in which the CODM reviews the business.
The Company does not manage its assets by segment; accordingly, net investment income and total assets are not allocated to the segments.
A summary of the significant components of the Company’s revenues and expenses by segment is as follows:
Year ended December 31, 2025PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$4,942,141 $6,796,279 $— $11,738,420 
Net premiums written$4,043,996 $5,826,204 $— $9,870,200 
Net premiums earned$3,971,669 $5,929,513 $— $9,901,182 
Net claims and claim expenses incurred
1,426,015 4,189,824 — 5,615,839 
Acquisition expenses714,852 1,835,971 — 2,550,823 
Operational expenses297,481 166,996 — 464,477 
Underwriting income (loss)$1,533,321 $(263,278)$— 1,270,043 
Net investment income1,703,475 1,703,475 
Net foreign exchange gains (losses)(13,504)(13,504)
Equity in earnings (losses) of other ventures
71,332 71,332 
Other income (loss)4,321 4,321 
Net realized and unrealized gains (losses) on investments1,181,268 1,181,268 
Corporate expenses(82,008)(82,008)
Interest expense(120,852)(120,852)
Income (loss) before taxes
4,014,075 
Income tax benefit (expense)
(396,332)(396,332)
Net (income) loss attributable to redeemable noncontrolling interests(935,409)(935,409)
Dividends on preference shares(35,375)(35,375)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$2,646,959 
Net claims and claim expenses incurred – current accident year
$2,515,211 $4,191,561 $— $6,706,772 
Net claims and claim expenses incurred – prior accident years
(1,089,196)(1,737)— (1,090,933)
Net claims and claim expenses incurred – total
$1,426,015 $4,189,824 $— $5,615,839 
Net claims and claim expense ratio – current accident year
63.3 %70.7 %67.7 %
Net claims and claim expense ratio – prior accident years
(27.4)%— %(11.0)%
Net claims and claim expense ratio – calendar year
35.9 %70.7 %56.7 %
Underwriting expense ratio25.5 %33.7 %30.5 %
Combined ratio61.4 %104.4 %87.2 %
Year ended December 31, 2024PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$4,823,731 $6,909,335 $— $11,733,066 
Net premiums written$3,833,636 $6,118,580 $— $9,952,216 
Net premiums earned$3,850,352 $6,245,408 $— $10,095,760 
Net claims and claim expenses incurred
1,141,726 4,191,255 — 5,332,981 
Acquisition expenses758,554 1,885,313 — 2,643,867 
Operational expenses302,360 194,228 — 496,588 
Underwriting income (loss)$1,647,712 $(25,388)$— 1,622,324 
Net investment income1,654,289 1,654,289 
Net foreign exchange gains (losses)(76,076)(76,076)
Equity in earnings (losses) of other ventures
47,087 47,087 
Other income (loss)1,928 1,928 
Net realized and unrealized gains (losses) on investments(27,840)(27,840)
Corporate expenses(134,784)(134,784)
Interest expense(93,768)(93,768)
Income (loss) before taxes
2,993,160 
Income tax benefit (expense)
(32,628)(32,628)
Net (income) loss attributable to redeemable noncontrolling interests(1,090,172)(1,090,172)
Dividends on preference shares(35,375)(35,375)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$1,834,985 
Net claims and claim expenses incurred – current accident year
$1,960,578 $4,223,737 $— $6,184,315 
Net claims and claim expenses incurred – prior accident years
(818,852)(32,482)— (851,334)
Net claims and claim expenses incurred – total
$1,141,726 $4,191,255 $— $5,332,981 
Net claims and claim expense ratio – current accident year
50.9 %67.6 %61.3 %
Net claims and claim expense ratio – prior accident years
(21.2)%(0.5)%(8.5)%
Net claims and claim expense ratio – calendar year
29.7 %67.1 %52.8 %
Underwriting expense ratio27.5 %33.3 %31.1 %
Combined ratio57.2 %100.4 %83.9 %
Year ended December 31, 2023PropertyCasualty and SpecialtyOtherTotal
Gross premiums written$3,562,414 $5,299,952 $— $8,862,366 
Net premiums written$2,967,309 $4,500,504 $— $7,467,813 
Net premiums earned$3,090,792 $4,380,341 $— $7,471,133 
Net claims and claim expenses incurred
799,905 2,773,604 — 3,573,509 
Acquisition expenses600,127 1,274,907 — 1,875,034 
Operational expenses251,433 123,749 — 375,182 
Underwriting income (loss)$1,439,327 $208,081 $— 1,647,408 
Net investment income1,253,110 1,253,110 
Net foreign exchange gains (losses)(41,479)(41,479)
Equity in earnings (losses) of other ventures
43,474 43,474 
Other income (loss)(6,152)(6,152)
Net realized and unrealized gains (losses) on investments414,522 414,522 
Corporate expenses(127,642)(127,642)
Interest expense(73,181)(73,181)
Income (loss) before taxes
3,110,060 
Income tax benefit (expense)
510,067 510,067 
Net (income) loss attributable to redeemable noncontrolling interests(1,058,995)(1,058,995)
Dividends on preference shares(35,375)(35,375)
Net income (loss) available (attributable) to RenaissanceRe common shareholders$2,525,757 
Net claims and claim expenses incurred – current accident year
$1,208,810 $2,815,306 $— $4,024,116 
Net claims and claim expenses incurred – prior accident years
(408,905)(41,702)— (450,607)
Net claims and claim expenses incurred – total
$799,905 $2,773,604 $— $3,573,509 
Net claims and claim expense ratio – current accident year
39.1 %64.3 %53.9 %
Net claims and claim expense ratio – prior accident years
(13.2)%(1.0)%(6.1)%
Net claims and claim expense ratio – calendar year
25.9 %63.3 %47.8 %
Underwriting expense ratio27.5 %31.9 %30.1 %
Combined ratio53.4 %95.2 %77.9 %
The following is a summary of the Company’s gross premiums written by territory of coverage exposure:
Year ended December 31,202520242023
Gross
Premiums
Written		Percentage
of Gross
Premiums
Written		Gross
Premiums
Written		Percentage
of Gross
Premiums
Written		Gross
Premiums
Written		Percentage
of Gross
Premiums
Written
Property
U.S. and Caribbean$3,162,323 26.9 %$2,996,981 25.5 %$2,303,013 26.0 %
Worldwide1,038,625 8.8 %1,063,292 9.1 %798,623 9.0 %
Europe233,440 2.0 %244,523 2.1 %163,500 1.9 %
Worldwide (excluding U.S.) (1)
152,653 1.3 %180,688 1.5 %70,646 0.8 %
Japan103,383 0.9 %106,533 0.9 %85,823 1.0 %
Australia and New Zealand94,161 0.8 %101,976 0.9 %70,107 0.8 %
Other157,556 1.4 %129,738 1.1 %70,702 0.8 %
Total Property4,942,141 42.1 %4,823,731 41.1 %3,562,414 40.3 %
Casualty and Specialty
U.S. and Caribbean3,127,671 26.6 %2,986,956 25.5 %2,333,096 26.3 %
Worldwide3,070,027 26.2 %3,217,662 27.3 %2,280,687 25.7 %
Europe274,346 2.3 %353,863 3.0 %197,228 2.2 %
Worldwide (excluding U.S.) (1)
165,274 1.4 %195,489 1.7 %130,334 1.5 %
Australia and New Zealand22,076 0.2 %43,183 0.4 %27,397 0.3 %
Other136,885 1.2 %112,182 1.0 %331,210 3.7 %
Total Casualty and Specialty6,796,279 57.9 %6,909,335 58.9 %5,299,952 59.7 %
Total gross premiums written$11,738,420 100.0 %$11,733,066 100.0 %$8,862,366 100.0 %
(1)The category “Worldwide (excluding U.S.)” consists of contracts that cover more than one geographic region (other than the U.S.).