Renaissance Stock Price, News & Analysis

The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has announced an increase in its quarterly dividend to $0.38 per common share, up from $0.37. This marks the twenty-eighth consecutive year the company has raised its dividend. The new dividend is payable on March 31, 2023, to shareholders of record on March 15, 2023. RenaissanceRe specializes in reinsurance and insurance, offering property, casualty, and specialty reinsurance globally. The company operates in multiple countries including Bermuda, Australia, Ireland, Singapore, Switzerland, the United Kingdom, and the United States.

RenaissanceRe reported an annual net loss for common shareholders of $1.1 billion for 2022, with an operating income of $315.6 million. Despite challenges, it achieved a 29.6% annualized operating return on average common equity in Q4. The company experienced 21.2% growth in net premiums written, significantly driven by a 41.6% growth in its Casualty and Specialty segments. Q4 net investment income reached $211.2 million, reflecting a remarkable 162.5% growth year-over-year. However, $807.6 million in weather-related losses adversely impacted net income. The company ended 2022 with solid capital levels following the raising of $1.4 billion in third-party capital.

RenaissanceRe Holdings Ltd. (NYSE: RNR) will hold an investment community conference call on February 1, 2023, at 11:00 a.m. ET to discuss its financial results for the fourth quarter and year-end 2022. The company plans to release its financial results following the market close on January 31, 2023. Investors can access the live webcast through the company's website, with an archive available from 1:00 p.m. ET on February 1 to midnight ET on February 8, 2023.

The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has declared a quarterly dividend of $0.37 per common share. This dividend is set to be paid on December 30, 2022, to shareholders who are on record by December 15, 2022. Established in 1993, RenaissanceRe operates globally, providing reinsurance and insurance solutions.

RenaissanceRe Holdings Ltd. (NYSE: RNR) announced the appointments of David Marra as EVP, Group Chief Underwriting Officer and CEO of Renaissance Reinsurance U.S. Inc., and Ross Curtis as EVP, Chief Portfolio Officer, effective January 1, 2023. Marra will oversee the company's underwriting strategy and join the Governance Committee, while Curtis will manage portfolio optimization and capital allocation. President Kevin J. O'Donnell emphasized the leadership changes as a strategic move to capitalize on market opportunities.

RenaissanceRe Holdings Ltd. (NYSE: RNR) reported a Q3 2022 net loss of $825.3M, attributed to Hurricane Ian and other catastrophes, resulting in a 57.2 percentage point increase in the combined ratio. Despite these challenges, net investment income grew by 101.6% year-over-year to $157.8M. The casualty and specialty combined ratio improved to 95.7%, and net premiums written increased by 22.6%, driven by a 39.7% rise in the casualty and specialty segment. However, the company faced $641.5M in net investment losses.

RenaissanceRe Holdings Ltd. (NYSE: RNR) estimates a net negative impact of approximately $650 million from 2022 catastrophe events, primarily due to Hurricane Ian, which alone accounts for $540 million. The company anticipates reporting a net loss attributable to common shareholders for Q3 2022 and the nine months ending September 30, 2022. While Q3 will show an operating loss, the nine-month results are expected to be modest. Uncertainties remain regarding actual loss estimates and their significant variation as further data becomes available.

RenaissanceRe Holdings Ltd. (NYSE: RNR) hosted its 16th Annual Risk Mitigation Leadership Forum, focusing on the transition to a green economy through credit and risk transfer. The event featured discussions on renewable energy financing, carbon markets, and climate risk mitigation strategies. Notable speakers included leaders from academia and financial services. CEO Kevin O'Donnell emphasized the company's commitment to managing climate change impacts and supporting a sustainable future. The forum aims to bring together diverse stakeholders to foster resilience against climate risks.

RenaissanceRe Holdings Ltd. (NYSE: RNR) will host an investment community conference call on November 2, 2022, at 11:00 a.m. ET to discuss its third quarter 2022 financial results and outlook. The financial results will be released after market close on November 1, 2022. Interested parties can access a live webcast through the company's website, and an archive will be available from 1:00 p.m. ET on November 2 until midnight ET on November 9, 2022.