Renaissance Stock Price, News & Analysis

RenaissanceRe Holdings Ltd. (NYSE: RNR) announced Q2 2022 financial results showing a net loss attributable to common shareholders of $(324.9) million, or $(7.53) per diluted share. Despite this, the company reported a 23.2% growth in net premiums written, driven by strong performance in its Casualty and Specialty segment, which saw a 37.6% increase in net premiums. The combined ratio improved to 93.8%, reflecting strong underwriting results, although the annualized return on average common equity decreased to (25.1)% due to significant mark-to-market losses.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ and the Long-Term Issuer Credit Ratings (ICR) of 'aa-' for RenaissanceRe (NYSE: RNR) and its subsidiaries, highlighting their strong balance sheet and risk management. These ratings reflect the company's robust capitalization, effective underwriting practices, and diversification into specialty lines. The outlook remains stable, with expectations of pricing improvements across key product lines, although there remains exposure to high severity catastrophe events.

RenaissanceRe Holdings Ltd. (NYSE: RNR) will hold an investment community conference call on July 26, 2022, at 10:00 a.m. ET to discuss its Q2 2022 financial results and outlook. The results will be released after the market closes on July 25, 2022. Interested participants can access a live webcast on the company’s website. An archive of the call will be available from 1:00 p.m. ET on the same day until midnight ET on August 2, 2022.

The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has announced a quarterly dividend of $0.37 per common share, payable on June 30, 2022, to shareholders of record on June 15, 2022.

Additionally, the Board approved a renewal of the company's share repurchase program, increasing the total authorization to $500 million. This program will continue until the full amount is repurchased, reflecting the company's commitment to enhancing shareholder value.

RenaissanceRe Holdings Ltd. (NYSE: RNR) reported a net loss attributable to common shareholders of $(394.4 million) for Q1 2022, equivalent to $(9.10) per diluted share, amidst significant weather-related losses and impacts from the Russia-Ukraine conflict.

Net premiums written grew by 18.7% to $2.17 billion, driven by a 56.3% increase in Casualty and Specialty segments. The combined ratio improved to 86.5%, despite weather losses affecting results. Share buybacks totaled $93.4 million, and the launch of the joint venture Fontana is expected to bolster future fee income.

RenaissanceRe Holdings Ltd. (NYSE: RNR) has appointed Shannon Lowry Bender, the Group General Counsel and Corporate Secretary, to its Governance Committee, the company's senior management team responsible for governance and strategy. Since joining RenaissanceRe in January 2021, Bender's legal expertise has been pivotal for the executive team and the Board. CEO Kevin J. O'Donnell expressed confidence in her contributions following her invaluable counsel during her tenure.

RenaissanceRe Holdings Ltd. has established Fontana Holdings L.P., a joint venture focused on Casualty and Specialty risks, launching with $475 million in capital. Institutional investors contributed $325 million, with RenaissanceRe supplying the rest. Fontana will manage RenaissanceRe’s global Casualty and Specialty portfolio, enhancing potential shareholder value through steady fee income. Fontana is regulated by the Bermuda Monetary Authority and will be consolidated into RenaissanceRe's financial statements, forming part of the company's strategic evolution in the reinsurance sector.

RenaissanceRe Holdings Ltd. (NYSE: RNR) will host a conference call on May 4, 2022, at 11:00 a.m. ET, to discuss its Q1 2022 financial results and outlook. Results will be released post-market on May 3, 2022. A live webcast will be available via the company's website, with an archive accessible from 2:00 p.m. ET on May 4 until midnight ET on June 4, 2022. RenaissanceRe specializes in reinsurance and insurance, providing solutions through intermediaries globally.