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RENAISSANCERE HOLDINGS LTD (RNR)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Casualty and Specialty | 3,563.8 | 2,585.9 | 2,016.2 | 1,710.9 | 925.3 | 786.5 | 682.3 | 594.6 |
| Property | 2,770.2 | 2,608.3 | 1,936.2 | 1,627.5 | 1,050.8 | 931.1 | 721.0 | 806.0 |
| Other | 559.9 | 319.5 | 354.0 | 424.2 | 270.0 | 222.2 | 181.9 | 152.5 |
| Other | | | 865.8 | 439.3 | | 163.9 | 142.7 | |
| Total revenues | 5,060.4 | 5,277.7 | 5,172.3 | 4,202.0 | 2,074.9 | 2,103.7 | 1,727.8 | 1,515.1 |
| Revenue growth | -4.1% | 2.0% | 23.1% | 102.5% | -1.4% | 21.8% | 14.0% | 20.2% |
| Loss and loss adjustment expenses | 4,338.8 | 3,876.1 | 2,924.6 | 2,097.0 | 1,120.0 | 1,861.4 | 530.8 | 448.2 |
| Policy acquisition costs | 1,568.6 | 1,214.9 | 897.7 | 762.2 | 433.0 | 346.9 | 289.3 | 238.6 |
| Investment expenses | 21.6 | 20.8 | 18.6 | 17.6 | 14.9 | 15.4 | 15.4 | 14.2 |
| Other operating expenses | 301.8 | 232.6 | 285.1 | 299.2 | 197.3 | 164.0 | 219.7 | 281.4 |
| General and administrative | 46.8 | 41.2 | 97.0 | 94.1 | 34.0 | 18.6 | 37.4 | 76.5 |
| Equity in earnings | 11.2 | 12.3 | 17.2 | 23.2 | 18.5 | 8.0 | 1.0 | 20.5 |
| EBITDA | -1,254.4 | -128.6 | 1,090.8 | 963.9 | 297.4 | -242.1 | 689.4 | 548.1 |
| EBITDA margin | -24.8% | -2.4% | 21.1% | 22.9% | 14.3% | -11.5% | 39.9% | 36.2% |
| Depreciation | -27.0 | -21.0 | 16.7 | -59.0 | 0.1 | 31.2 | 29.3 | 18.2 |
| EBIT | -1,227.4 | -107.6 | 1,074.1 | 1,022.9 | 297.3 | -273.4 | 660.1 | 529.9 |
| EBIT margin | -24.3% | -2.0% | 20.8% | 24.3% | 14.3% | -13.0% | 38.2% | 35.0% |
| Interest income, net [+] | -1,954.1 | -354.2 | 747.5 | 294.4 | -106.6 | -44.2 | -95.3 | -74.9 |
| Interest expense | 48.3 | 47.5 | 50.5 | 58.4 | 47.1 | 44.2 | 42.1 | 36.3 |
| Interest income | -1,905.7 | -306.7 | 798.0 | 352.8 | -59.5 | | -53.2 | -38.7 |
| Other income (expense), net | | | | | | | -1.4 | -0.3 |
| Pre-tax income | -1,218.8 | -114.1 | 995.9 | 967.5 | 262.6 | -328.2 | 630.4 | 496.4 |
| Income taxes | -59.0 | -10.7 | 2.9 | 17.2 | -6.3 | 26.5 | 0.3 | -45.9 |
| Tax rate | 4.8% | 9.3% | 0.3% | 1.8% | | | 0.1% | |
| Minority interest | | | | | | -132.3 | 127.1 | 111.1 |
| Net income | -1,096.6 | -73.4 | 731.5 | 712.0 | 197.3 | -244.8 | 480.6 | 408.8 |
| Net margin | -21.7% | -1.4% | 14.1% | 16.9% | 9.5% | -11.6% | 27.8% | 27.0% |
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| Basic EPS | ($25.48) | ($1.56) | $15.53 | $16.51 | $4.97 | ($6.14) | $11.63 | $9.47 |
| Diluted EPS | ($25.48) | ($1.56) | $15.50 | $16.49 | $4.96 | ($6.14) | $11.56 | $9.39 |
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| Shares outstanding (basic) | 43.0 | 47.2 | 47.1 | 43.1 | 39.7 | 39.9 | 41.3 | 43.2 |
| Shares outstanding (diluted) | 43.0 | 47.2 | 47.2 | 43.2 | 39.8 | 39.9 | 41.6 | 43.5 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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