Welcome to our dedicated page for Renaissance news (Ticker: RNR), a resource for investors and traders seeking the latest updates and insights on Renaissance stock.
RenaissanceRe Holdings Ltd. (NYSE: RNR) is a global provider of reinsurance and insurance, with a focus on property, casualty and specialty reinsurance and certain insurance solutions. This news page aggregates company-specific updates so readers can review how RenaissanceRe communicates its financial performance, capital management and major events over time.
RenaissanceRe regularly issues quarterly earnings press releases detailing net income and operating income available to common shareholders, combined and adjusted combined ratios, segment results for its Property and Casualty and Specialty segments, and the contribution from underwriting, fee income and net investment income. These releases often explain the impact of large loss events, such as natural catastrophes, on its catastrophe and other property classes and on casualty and specialty lines.
The company also announces conference calls and webcasts for the investment community, where management discusses quarterly and year-end financial results and the company’s outlook. In addition, RenaissanceRe’s news includes dividend declarations on its common shares and updates on the renewal and size of its authorized share repurchase program, including commentary on capital returned to shareholders through buybacks.
Other news items may highlight developments in fee income from joint ventures and managed vehicles such as DaVinci, Vermeer, Upsilon and Medici, as well as commentary on investment results, including net realized and unrealized gains or losses on investments and investment-related derivatives. Investors who follow RNR news can use this page to track recurring themes in underwriting performance, large loss event impacts, capital management actions and investment returns.
For anyone researching RenaissanceRe, this news feed provides a centralized view of the company’s public announcements, helping readers understand how its property, casualty and specialty reinsurance and insurance activities translate into reported financial results and strategic updates.
RenaissanceRe Holdings (NYSE: RNR) has announced its upcoming third quarter 2024 financial results conference call. The call is scheduled for Thursday, November 7, 2024, at 10:00 a.m. ET. The company will release its financial results after the market closes on Wednesday, November 6, 2024. Investors and interested parties can access the live webcast of the conference call through the Investors section of RenaissanceRe's website at www.renre.com. For those unable to attend the live call, an archive will be available from approximately 1:00 p.m. ET on November 7, 2024, until midnight ET on November 14, 2024. This event provides an opportunity for the investment community to discuss RenaissanceRe's financial performance and outlook with the company's management.
AM Best has affirmed the credit ratings of RenaissanceRe Holdings (RNR) and its main subsidiaries. The Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICR) of 'aa-' (Superior) were affirmed for RenaissanceRe's key entities. RNR's Long-Term ICR of 'a-' (Excellent) was also affirmed. The outlook for these ratings is stable.
The ratings reflect RenaissanceRe's strongest balance sheet strength, adequate operating performance, very favorable business profile, and very strong enterprise risk management. AM Best highlighted RNR's improved operating performance in recent years, with reduced volatility due to diversification into specialty and casualty lines. The company's successful integration of Validus Reinsurance, and its subsidiaries has further strengthened its global market position.
RenaissanceRe Holdings (NYSE: RNR) has announced two significant decisions by its Board of Directors. Firstly, the company declared a quarterly dividend of $0.39 per common share, payable on September 30, 2024, to shareholders of record on September 13, 2024. Secondly, the Board approved a renewal of RenaissanceRe's share repurchase program, increasing the total current authorization to $500.0 million. This authorization includes remaining amounts from previous authorizations.
The repurchase program will continue until the full value of authorized shares is repurchased or until terminated by the Board. RenaissanceRe may repurchase shares through open market purchases and privately negotiated transactions. The decision to repurchase shares will be based on factors such as market price and the company's capital requirements.
RenaissanceRe (NYSE: RNR) reported strong Q2 2024 financial results, with $495.0 million in net income available to common shareholders and $650.8 million in operating income. Key highlights include:
- Gross premiums written grew 29.2% to $3.43 billion
- Combined ratio improved to 81.1%
- Fee income increased 48.3% to $84.1 million
- Net investment income rose 40.4% to $410.8 million
- Annualized return on average common equity of 21.4%
The company saw growth across both its Property and Casualty & Specialty segments, benefiting from the Validus acquisition. RenaissanceRe repurchased $108.5 million of common shares in Q2 and an additional $61.2 million from July 1-22, 2024.
RenaissanceRe Holdings (NYSE: RNR) has announced a conference call to discuss its Q2 2024 financial results and company outlook. The call is scheduled for July 25, 2024, at 10:00 a.m. ET, following the release of their results after market close on July 24, 2024. Investors can access the live webcast via the Investors section on RenaissanceRe's website. A replay will be available from 1:00 p.m. ET on July 25 until midnight ET on August 1, 2024.
RenaissanceRe Holdings (NYSE: RNR) has declared a quarterly dividend of $0.39 per common share, payable on June 28, 2024, to shareholders of record by June 14, 2024. The Board also renewed the company's share repurchase program, authorizing up to $500 million for repurchases. This includes remaining amounts from prior authorizations. The repurchase program will end when the full amount is repurchased, unless terminated earlier. Repurchases may occur via open market purchases or private transactions, influenced by market price and capital requirements.
RenaissanceRe Holdings (NYSE: RNR) reported $364.8 million of net income available to common shareholders and $636.4 million of operating income available to common shareholders in Q1 2024. The company achieved an annualized return on average common equity of 16.4% and an annualized operating return on average common equity of 28.7%. Gross premiums written grew by 43.0%, with significant growth in the Property and Casualty and Specialty segments. Fee income increased by 86.6% from Q1 2023, and net investment income was up 53.6%. The Company's President and CEO, Kevin J. O’Donnell, highlighted strong profitability and growth, driven by successful renewals and partnerships.
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