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, 2015 and December 31, 2014 , condensed consolidating statements of operations and condensed consolidating statements of comprehensive income for the three and six months ended June 30, 2015 and 2014 , and condensed consolidating statements of cash flow for the six months ended June 30, 2015 and 2014 . Each of RRNAH, Platinum Finance and RenaissanceRe Finance is a 100% owned subsidiary of RenaissanceRe. In connection with an intercompany restructuring, subsequent to June 30, 2015 and effective July 1, 2015, Platinum was merged with RenaissanceRe, with RenaissanceRe continuing as the surviving company and RenaissanceRe assumed all of the obligations of Platinum with respect to, and is the sole guarantor of, the Platinum Finance Notes. Refer to “Note 7 . Debt and Credit Facilities” for information related to the Company’s debt obligations. Condensed Consolidating Balance Sheet at June 30, 2015 RenaissanceRe Platinum Underwriters Holdings, Ltd. (Subsidiary Guarantor) RenRe North Platinum Underwriters Finance, Inc. (Subsidiary Issuer) RenaissanceRe Finance, Inc. (Subsidiary Issuer) Other Consolidating RenaissanceRe Assets Total investments $ 182,375 $ — $ 88,177 $ 282,027 $ — $ 8,727,688 $ — $ 9,280,267 Cash and cash equivalents 2,535 9,181 2,146 1,089 224 382,915 — 398,090 Investments in subsidiaries 4,550,601 648,991 258,980 611,580 828,023 — (6,898,175 ) — Due from subsidiaries and affiliates 79,807 27,612 15 — — — (107,434 ) — Premiums receivable — — — — — 1,068,819 — 1,068,819 Prepaid reinsurance premiums — — — — — 276,231 — 276,231 Reinsurance recoverable — — — — — 136,464 — 136,464 Accrued investment income 462 — 173 307 — 36,538 — 37,480 Deferred acquisition costs — — — — — 195,291 (21,883 ) 173,408 Receivable for investments sold 56 — 21 151 — 148,835 — 149,063 Other assets 20,921 — 32,250 3,125 121,323 198,964 (118,962 ) 257,621 Goodwill and other intangible assets 267,945 — — — — 7,798 — 275,743 Total assets $ 5,104,702 $ 685,784 $ 381,762 $ 898,279 $ 949,570 $ 11,179,543 $ (7,146,454 ) $ 12,053,186 Liabilities, Noncontrolling Interests and Shareholders’ Equity Liabilities Reserve for claims and claim expenses $ — $ — $ — $ — $ — $ 2,828,161 $ 19,487 $ 2,847,648 Unearned premiums — — — — — 1,155,596 — 1,155,596 Debt 117,000 — 249,568 250,000 299,415 148,761 (92,382 ) 972,362 Amounts due to subsidiaries and affiliates 60,202 1,872 218 23 407 — (62,722 ) — Reinsurance balances payable — — — — — 512,019 — 512,019 Payable for investments purchased 2,979 — 38 233 — 508,001 — 511,251 Other liabilities 87,577 336 2,380 — 3,357 202,854 (67,950 ) 228,554 Total liabilities 267,758 2,208 252,204 250,256 303,179 5,355,392 (203,567 ) 6,227,430 Redeemable noncontrolling interest — — — — — 988,812 — 988,812 Shareholders’ Equity Total shareholders’ equity 4,836,944 683,576 129,558 648,023 646,391 4,835,339 (6,942,887 ) 4,836,944 Total liabilities, noncontrolling interests and shareholders’ equity $ 5,104,702 $ 685,784 $ 381,762 $ 898,279 $ 949,570 $ 11,179,543 $ (7,146,454 ) $ 12,053,186 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Balance Sheet at December 31, 2014 RenaissanceRe Holdings Ltd. (Parent Guarantor) RenRe North America Holdings Inc. (Subsidiary Issuer) Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) Consolidating Adjustments (2) RenaissanceRe Consolidated Assets Total investments $ 137,006 $ 88,150 $ 6,518,594 $ — $ 6,743,750 Cash and cash equivalents 5,986 1,033 518,565 — 525,584 Investments in subsidiaries 3,509,974 71,796 — (3,581,770 ) — Due from subsidiaries and affiliates 126,548 23 — (126,571 ) — Premiums receivable — — 440,007 — 440,007 Prepaid reinsurance premiums — — 94,810 — 94,810 Reinsurance recoverable — — 66,694 — 66,694 Accrued investment income — 121 26,388 — 26,509 Deferred acquisition costs — — 110,059 — 110,059 Receivable for investments sold 10 — 52,380 — 52,390 Other assets 112,400 1,242 123,661 (101,458 ) 135,845 Goodwill and other intangible assets — — 7,902 — 7,902 Total assets $ 3,891,924 $ 162,365 $ 7,959,060 $ (3,809,799 ) $ 8,203,550 Liabilities, Redeemable Noncontrolling Interest and Shareholders’ Equity Liabilities Reserve for claims and claim expenses $ — $ — $ 1,412,510 $ — $ 1,412,510 Unearned premiums — — 512,386 — 512,386 Debt — 249,522 — — 249,522 Amounts due to subsidiaries and affiliates 6,000 233 — (6,233 ) — Reinsurance balances payable — — 454,580 — 454,580 Payable for investments purchased — — 203,021 — 203,021 Other liabilities 20,209 4,013 351,344 (1,458 ) 374,108 Total liabilities 26,209 253,768 2,933,841 (7,691 ) 3,206,127 Redeemable noncontrolling interest — — 1,131,708 — 1,131,708 Shareholders’ Equity Total shareholders’ equity 3,865,715 (91,403 ) 3,893,511 (3,802,108 ) 3,865,715 Total liabilities, redeemable noncontrolling interest and shareholders’ equity $ 3,891,924 $ 162,365 $ 7,959,060 $ (3,809,799 ) $ 8,203,550 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Operations for RenaissanceRe Platinum Underwriters Holdings, Ltd. (Subsidiary Guarantor) RenRe North Platinum Underwriters Finance, Inc. (Subsidiary Issuer) RenaissanceRe Finance, Inc. (Subsidiary Issuer) Other Consolidating RenaissanceRe Revenues Net premiums earned $ — $ — $ — $ — $ — $ 379,828 $ — $ 379,828 Net investment income 98 — 300 1,221 468 37,342 (825 ) 38,604 Net foreign exchange gains (losses) 12 — — — — (1,752 ) — (1,740 ) Equity in earnings of other ventures — — — — — 6,160 — 6,160 Other income 15,692 497 — — — 431 (15,193 ) 1,427 Net realized and unrealized (losses) gains on investments (535 ) — 609 (1,389 ) — (25,397 ) — (26,712 ) Total revenues 15,267 497 909 (168 ) 468 396,612 (16,018 ) 397,567 Expenses Net claims and claim expenses incurred — — — — — 171,023 (1,679 ) 169,344 Acquisition expenses — — — — — 73,537 (11,871 ) 61,666 Operational expenses (1,300 ) 932 1,588 — — 51,334 2,119 54,673 Corporate expenses 6,373 980 153 109 77 5,449 (109 ) 13,032 Interest expense 468 — 3,616 4,687 2,790 880 (2,743 ) 9,698 Total expenses 5,541 1,912 5,357 4,796 2,867 302,223 (14,283 ) 308,413 Income (loss) before equity in net income (loss) of subsidiaries and taxes 9,726 (1,415 ) (4,448 ) (4,964 ) (2,399 ) 94,389 (1,735 ) 89,154 Equity in net income (loss) of subsidiaries 72,555 (805 ) 127 565 (2,443 ) (11,916 ) (58,083 ) — Income (loss) before taxes 82,281 (2,220 ) (4,321 ) (4,399 ) (4,842 ) 82,473 (59,818 ) 89,154 Income tax (expense) benefit (3,452 ) — 1,743 1,956 888 707 — 1,842 Net income (loss) 78,829 (2,220 ) (2,578 ) (2,443 ) (3,954 ) 83,180 (59,818 ) 90,996 Net income attributable to noncontrolling interests — — — — — (12,167 ) — (12,167 ) Net income (loss) attributable to RenaissanceRe 78,829 (2,220 ) (2,578 ) (2,443 ) (3,954 ) 71,013 (59,818 ) 78,829 Dividends on preference shares (5,596 ) — — — — — — (5,596 ) Net income (loss) attributable to RenaissanceRe common shareholders $ 73,233 $ (2,220 ) $ (2,578 ) $ (2,443 ) $ (3,954 ) $ 71,013 $ (59,818 ) $ 73,233 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Comprehensive Income (Loss) for the three months ended June 30, 2015 RenaissanceRe Platinum Underwriters Holdings, Ltd. (Subsidiary Guarantor) RenRe North Platinum Underwriters Finance, Inc. (Subsidiary Issuer) RenaissanceRe Finance, Inc. (Subsidiary Issuer) Other Consolidating RenaissanceRe Comprehensive income (loss) Net income (loss) $ 78,829 $ (2,220 ) $ (2,578 ) $ (2,443 ) $ (3,954 ) $ 83,180 $ (59,818 ) $ 90,996 Change in net unrealized gains on investments — — — — — (349 ) — (349 ) Comprehensive income (loss) 78,829 (2,220 ) (2,578 ) (2,443 ) (3,954 ) 82,831 (59,818 ) 90,647 Net income attributable to noncontrolling interests — — — — — (12,167 ) — (12,167 ) Comprehensive income attributable to noncontrolling interests — — — — — (12,167 ) — (12,167 ) Comprehensive income (loss) attributable to RenaissanceRe $ 78,829 $ (2,220 ) $ (2,578 ) $ (2,443 ) $ (3,954 ) $ 70,664 $ (59,818 ) $ 78,480 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Operations for RenaissanceRe Platinum Underwriters Holdings, Ltd. (Subsidiary Guarantor) RenRe North Platinum Underwriters Finance, Inc. (Subsidiary Issuer) RenaissanceRe Finance, Inc. (Subsidiary Issuer) Other Consolidating RenaissanceRe Revenues Net premiums earned $ — $ — $ — $ — $ — $ 676,588 $ — $ 676,588 Net investment income 2,722 — 631 1,181 504 75,072 (1,799 ) 78,311 Net foreign exchange gains (losses) 2 — — — — (4,872 ) — (4,870 ) Equity in earnings of other ventures — — — — — 11,455 — 11,455 Other income 21,881 663 — — — 1,639 (21,217 ) 2,966 Net realized and unrealized (losses) gains on investments (496 ) — 1,015 (1,388 ) — 15,906 — 15,037 Total revenues 24,109 663 1,646 (207 ) 504 775,788 (23,016 ) 779,487 Expenses Net claims and claim expenses incurred — — — — — 248,435 (2,238 ) 246,197 Acquisition expenses — — — — — 121,855 (16,788 ) 105,067 Operational expenses (2,478 ) 5,919 3,478 1 — 85,849 7,525 100,294 Corporate expenses 22,677 9,162 251 144 84 26,456 (144 ) 58,630 Interest expense 763 — 7,233 6,250 3,006 1,474 (3,777 ) 14,949 Total expenses 20,962 15,081 10,962 6,395 3,090 484,069 (15,422 ) 525,137 Income (loss) before equity in net income (loss) of subsidiaries and taxes 3,147 (14,418 ) (9,316 ) (6,602 ) (2,586 ) 291,719 (7,594 ) 254,350 Equity in net income (loss) of subsidiaries 256,235 (7,362 ) 17,526 (1,581 ) (5,656 ) — (259,162 ) — Income (loss) before taxes 259,382 (21,780 ) 8,210 (8,183 ) (8,242 ) 291,719 (266,756 ) 254,350 Income tax (expense) benefit (7,115 ) — 32,748 2,527 953 20,633 — 49,746 Net income (loss) 252,267 (21,780 ) 40,958 (5,656 ) (7,289 ) 312,352 (266,756 ) 304,096 Net income attributable to noncontrolling interests — — — — — (51,829 ) — (51,829 ) Net income (loss) attributable to RenaissanceRe 252,267 (21,780 ) 40,958 (5,656 ) (7,289 ) 260,523 (266,756 ) 252,267 Dividends on preference shares (11,191 ) — — — — — — (11,191 ) Net income (loss) attributable to RenaissanceRe common shareholders $ 241,076 $ (21,780 ) $ 40,958 $ (5,656 ) $ (7,289 ) $ 260,523 $ (266,756 ) $ 241,076 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Comprehensive Income (Loss) for the six months ended June 30, 2015 RenaissanceRe Platinum Underwriters Holdings, Ltd. (Subsidiary Guarantor) RenRe North Platinum Underwriters Finance, Inc. (Subsidiary Issuer) RenaissanceRe Finance, Inc. (Subsidiary Issuer) Other Consolidating RenaissanceRe Comprehensive income (loss) Net income (loss) $ 252,267 $ (21,780 ) $ 40,958 $ (5,656 ) $ (7,289 ) $ 312,352 $ (266,756 ) $ 304,096 Change in net unrealized gains on investments — — — — — (423 ) — (423 ) Comprehensive income (loss) 252,267 (21,780 ) 40,958 (5,656 ) (7,289 ) 311,929 (266,756 ) 303,673 Net income attributable to noncontrolling interests — — — — — (51,829 ) — (51,829 ) Comprehensive income attributable to noncontrolling interests — — — — — (51,829 ) — (51,829 ) Comprehensive income (loss) attributable to RenaissanceRe $ 252,267 $ (21,780 ) $ 40,958 $ (5,656 ) $ (7,289 ) $ 260,100 $ (266,756 ) $ 251,844 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor, Subsidiary Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Operations RenaissanceRe Holdings Ltd. (Parent Guarantor) RenRe North America Holdings Inc. (Subsidiary Issuer) Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) Consolidating Adjustments (2) RenaissanceRe Consolidated Revenues Net premiums earned $ — $ — $ 260,416 $ — $ 260,416 Net investment income 736 445 34,293 (933 ) 34,541 Net foreign exchange gains 6 — 2,386 — 2,392 Equity in earnings of other ventures — — 7,232 — 7,232 Other loss — — (535 ) — (535 ) Net realized and unrealized gains on investments 190 4,340 22,598 — 27,128 Total revenues 932 4,785 326,390 (933 ) 331,174 Expenses Net claims and claim expenses incurred — — 81,388 — 81,388 Acquisition expenses — — 33,477 — 33,477 Operational expenses (1,236 ) 1,684 45,483 (90 ) 45,841 Corporate expenses 3,468 59 427 — 3,954 Interest expense — 3,616 676 — 4,292 Total expenses 2,232 5,359 161,451 (90 ) 168,952 (Loss) income before equity in net income (loss) of subsidiaries and taxes (1,300 ) (574 ) 164,939 (843 ) 162,222 Equity in net income (loss) of subsidiaries 127,648 (38 ) — (127,610 ) — Income (loss) before taxes 126,348 (612 ) 164,939 (128,453 ) 162,222 Income tax (expense) benefit — (38 ) 242 — 204 Net income (loss) 126,348 (650 ) 165,181 (128,453 ) 162,426 Net income attributable to noncontrolling interests — — (36,078 ) — (36,078 ) Net income (loss) attributable to RenaissanceRe 126,348 (650 ) 129,103 (128,453 ) 126,348 Dividends on preference shares (5,596 ) — — — (5,596 ) Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 120,752 $ (650 ) $ 129,103 $ (128,453 ) $ 120,752 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Comprehensive Income (Loss) for the three months ended June 30, 2014 RenaissanceRe Holdings Ltd. (Parent Guarantor) RenRe North America Holdings Inc. (Subsidiary Issuer) Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) Consolidating Adjustments (2) RenaissanceRe Consolidated Comprehensive income (loss) Net income (loss) $ 126,348 $ (650 ) $ 165,181 $ (128,453 ) $ 162,426 Change in net unrealized gains on investments — — (45 ) — (45 ) Comprehensive income (loss) 126,348 (650 ) 165,136 (128,453 ) 162,381 Net income attributable to noncontrolling interests — — (36,078 ) — (36,078 ) Comprehensive income attributable to noncontrolling interests — — (36,078 ) — (36,078 ) Comprehensive income (loss) attributable to RenaissanceRe $ 126,348 $ (650 ) $ 129,058 $ (128,453 ) $ 126,303 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Operations RenaissanceRe Holdings Ltd. (Parent Guarantor) RenRe North America Holdings Inc. (Subsidiary Issuer) Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) Consolidating Adjustments (2) RenaissanceRe Consolidated Revenues Net premiums earned $ — $ — $ 546,950 $ — $ 546,950 Net investment income 1,361 919 73,079 (1,870 ) 73,489 Net foreign exchange gains 7 — 1,324 — 1,331 Equity in earnings of other ventures — — 11,431 — 11,431 Other loss — (8 ) (465 ) — (473 ) Net realized and unrealized gains on investments 84 4,717 37,254 — 42,055 Total revenues 1,452 5,628 669,573 (1,870 ) 674,783 Expenses Net claims and claim expenses incurred — — 140,303 — 140,303 Acquisition expenses — — 67,177 — 67,177 Operational expenses (2,116 ) 3,578 87,171 (168 ) 88,465 Corporate expenses 7,470 118 911 — 8,499 Interest expense — 7,233 1,352 — 8,585 Total expenses 5,354 10,929 296,914 (168 ) 313,029 (Loss) income before equity in net income of subsidiaries and taxes (3,902 ) (5,301 ) 372,659 (1,702 ) 361,754 Equity in net income of subsidiaries 286,848 815 — (287,663 ) — Income (loss) before taxes 282,946 (4,486 ) 372,659 (289,365 ) 361,754 Income tax benefit (expense) — 646 (608 ) — 38 Net income (loss) 282,946 (3,840 ) 372,051 (289,365 ) 361,792 Net income attributable to noncontrolling interests — — (78,846 ) — (78,846 ) Net income (loss) attributable to RenaissanceRe 282,946 (3,840 ) 293,205 (289,365 ) 282,946 Dividends on preference shares (11,191 ) — — — (11,191 ) Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 271,755 $ (3,840 ) $ 293,205 $ (289,365 ) $ 271,755 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Comprehensive Income (Loss) for the six months ended June 30, 2014 RenaissanceRe Holdings Ltd. (Parent Guarantor) RenRe North America Holdings Inc. (Subsidiary Issuer) Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) Consolidating Adjustments (2) RenaissanceRe Consolidated Comprehensive income (loss) Net income (loss) $ 282,946 $ (3,840 ) $ 372,051 $ (289,365 ) $ 361,792 Change in net unrealized gains on investments — — (213 ) — (213 ) Comprehensive income (loss) 282,946 (3,840 ) 371,838 (289,365 ) 361,579 Net income attributable to noncontrolling interests — — (78,846 ) — (78,846 ) Comprehensive income attributable to noncontrolling interests — — (78,846 ) — (78,846 ) Comprehensive income (loss) attributable to RenaissanceRe $ 282,946 $ (3,840 ) $ 292,992 $ (289,365 ) $ 282,733 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. (2) Includes Parent Guarantor and Subsidiary Issuer consolidating adjustments. Condensed Consolidating Statement of Cash Flows RenaissanceRe Platinum Underwriters Holdings, Ltd. (Subsidiary Guarantor) RenRe North Platinum Underwriters Finance, Inc. (Subsidiary Issuer) RenaissanceRe Finance, Inc. (Subsidiary Issuer) Other RenaissanceRe Consolidated Cash flows provided by (used in) operating activities Net cash provided by (used in) operating activities $ 66,113 $ (1,326 ) $ (5,393 ) $ (10,030 ) $ (119,583 ) $ 40,849 $ (29,370 ) Cash flows (used in) provided by investing activities Proceeds from sales and maturities of fixed maturity investments trading 14,718 — 7,016 45,087 — 4,695,154 4,761,975 Purchases of fixed maturity investments trading (56,559 ) — (38,668 ) — — (4,500,891 ) (4,596,118 ) Proceeds from sales and maturities of fixed maturity investments available for sale — — — — — 5,000 5,000 Net sales (purchases) of equity investments trading — — 33,687 (273,501 ) — 73,329 (166,485 ) Net (purchases) sales of short term investments (1,088 ) — (5,848 ) 238,048 — 129,050 360,162 Net purchases of other investments — — — — — (1,250 ) (1,250 ) Net purchases of investments in other ventures — — — — — (45 ) (45 ) Net sales of other assets — — — — — 4,500 4,500 Dividends and return of capital from subsidiaries 1,009,161 (30,000 ) — — — (979,161 ) — Contributions to subsidiaries (205,362 ) — 10,342 — (180,000 ) 375,020 — Due (from) to subsidiary (3,595 ) (21,913 ) (23 ) (52 ) 407 25,176 — Net purchase of Platinum (904,433 ) 62,420 — 1,537 — 162,324 (678,152 ) Net cash (used in) provided by investing activities (147,158 ) 10,507 6,506 11,119 (179,593 ) (11,794 ) (310,413 ) Cash flows provided by (used in) financing activities Dividends paid – RenaissanceRe common shares (27,479 ) — — — — — (27,479 ) Dividends paid – preference shares (11,191 ) — — — — — (11,191 ) RenaissanceRe common share repurchases (736 ) — — — — — (736 ) Net issuance (repayment) of debt 117,000 — — — 299,400 29,189 445,589 Net third party redeemable noncontrolling interest share transactions — — — — — (187,064 ) (187,064 ) Net cash provided by (used in) financing activities 77,594 — — — 299,400 (157,875 ) 219,119 Effect of exchange rate changes on foreign currency cash — — — — — (6,830 ) (6,830 ) Net (decrease) increase in cash and cash equivalents (3,451 ) 9,181 1,113 1,089 224 (135,650 ) (127,494 ) Cash and cash equivalents, beginning of period 5,986 — 1,033 — — 518,565 525,584 Cash and cash equivalents, end of period $ 2,535 $ 9,181 $ 2,146 $ 1,089 $ 224 $ 382,915 $ 398,090 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. Condensed Consolidating Statement of Cash Flows RenaissanceRe Holdings Ltd. (Parent Guarantor) RenRe North America Holdings Inc. (Subsidiary Issuer) Other RenaissanceRe Holdings Ltd. Subsidiaries and Eliminations (Non-guarantor Subsidiaries) (1) RenaissanceRe Consolidated Cash flows (used in) provided by operating activities Net cash (used in) provided by operating activities $ (14,828 ) $ (8,410 ) $ 196,624 $ 173,386 Cash flows provided by (used in) investing activities Proceeds from sales and maturities of fixed maturity investments trading 4,912 5,353 4,009,909 4,020,174 Purchases of fixed maturity investments trading (79,714 ) — (3,890,603 ) (3,970,317 ) Proceeds from sales and maturities of fixed maturity investments available for sale — — 5,114 5,114 Net purchases of equity investments trading — (370 ) (10,776 ) (11,146 ) Net sales (purchases) of short term investments 116,511 (68 ) (26,894 ) 89,549 Net sales of other investments — — 68,684 68,684 Net sales of investments in other ventures — — 1,030 1,030 Net sales of other assets — — 6,000 6,000 Dividends and return of capital from subsidiaries 359,891 5,406 (365,297 ) — Contributions to subsidiaries (47,220 ) (1,950 ) 49,170 — Due to (from) subsidiaries 4,123 (777 ) (3,346 ) — Net cash provided by (used in) investing activities 358,503 7,594 (157,009 ) 209,088 Cash flows used in financing activities Dividends paid – RenaissanceRe common shares (23,550 ) — — (23,550 ) Dividends paid – preference shares (11,191 ) — — (11,191 ) RenaissanceRe common share repurchases (314,536 ) — — (314,536 ) Net third party redeemable noncontrolling interest share transactions — — (144,096 ) (144,096 ) Net cash used in financing activities (349,277 ) — (144,096 ) (493,373 ) Effect of exchange rate changes on foreign currency cash — — (2,676 ) (2,676 ) Net decrease in cash and cash equivalents (5,602 ) (816 ) (107,157 ) (113,575 ) Cash and cash equivalents, beginning of period 8,796 4,027 395,209 408,032 Cash and cash equivalents, end of period $ 3,194 $ 3,211 $ 288,052 $ 294,457 (1) Includes all other subsidiaries of RenaissanceRe Holdings Ltd. and eliminations. |