v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows provided by (used in) operating activities      
Net income (loss) $ 3,617,743 $ 2,960,532 $ 3,620,127
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Amortization, accretion and depreciation (14,122) 258,456 (134,753)
Equity in undistributed (earnings) losses of other ventures (17,218) 9,035 (7,642)
Net realized and unrealized (gains) losses on investments (1,181,974) (29,439) (482,794)
Change in:      
Premiums receivable 37,774 (9,546) (126,852)
Prepaid reinsurance premiums (105,449) 36,445 223,385
Reinsurance recoverable 581,477 862,896 663,909
Deferred acquisition costs and value of business acquired 13,819 199,078 37,301
Reserve for claims and claim expenses 998,854 816,622 (34,656)
Unearned premiums 77,759 (185,720) (227,001)
Reinsurance balances payable (263,826) (381,830) (1,040,110)
Other (51,730) (371,707) (579,280)
Net cash provided by (used in) operating activities 3,693,107 4,164,822 1,911,634
Cash flows provided by (used in) investing activities      
Proceeds from sales and maturities of fixed maturity investments trading 12,687,277 23,515,450 21,796,577
Purchases of fixed maturity investments trading (13,304,154) (26,296,842) (24,771,411)
Proceeds from sales of short term investments 45,559,744 31,772,072 41,152,880
Purchases of short term investments (45,694,376) (31,597,588) (39,309,700)
Proceeds from sales of equity investments 1,602 463 566,040
Purchases of equity investments (1,564,947) (205) (1,715)
Proceeds from sales of other investments 1,010,790 1,087,445 489,658
Purchases of other investments (1,475,319) (1,445,666) (1,217,158)
Purchases of investments in other ventures (1,089) (57,335) (25,265)
Return of investments in other ventures 321 41,349 5,554
Net settlements of derivatives 564,342 (79,999) (74,350)
Net purchase of Validus 0 0 (2,433,746)
Net cash provided by (used in) investing activities (2,215,809) (3,060,856) (3,822,636)
Cash flows provided by (used in) financing activities      
Dividends paid – RenaissanceRe common shares (74,843) (80,849) (75,112)
Dividends paid – preference shares (35,375) (35,375) (35,375)
RenaissanceRe common share repurchases (1,599,680) (666,921) 0
RenaissanceRe common share issuance, net of expenses 0 0 1,351,608
Repayment of debt (450,000) (75,000) (30,000)
Issuance of debt, net of expenses 889,114 0 740,581
Repayment of Medici Revolving Credit Facility (75,000) (75,000) 0
Drawdown of Medici Revolving Credit Facility 75,000 75,000 75,000
Subscriptions of third-party redeemable noncontrolling interest shares 212,240 537,433 982,914
Redemptions of third-party redeemable noncontrolling interest shares (328,437) (943,223) (400,458)
Taxes paid on withholding shares (23,522) (23,580) (20,518)
Net cash provided by (used in) financing activities (1,410,503) (1,287,515) 2,588,639
Effect of exchange rate changes on foreign currency cash (12,218) (17,365) 5,542
Net increase (decrease) in cash and cash equivalents 54,577 (200,914) 683,179
Cash and cash equivalents, beginning of year 1,676,604 1,877,518 1,194,339
Cash and cash equivalents, end of year 1,731,181 1,676,604 1,877,518
Supplemental disclosure of cash flow information      
Interest paid 111,830 88,046 73,543
Non-cash consideration [1] $ 0 $ 0 $ 285,168
[1] Represents the non-cash component of the total Validus Acquisition consideration. Refer to “Note 3. Acquisition of Validus” for additional information related to the Validus Acquisition.