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RenaissanceRe Holdings Ltd. (RNR) is a global leader in catastrophe, casualty, and specialty reinsurance solutions. This page provides investors and industry professionals with centralized access to the company’s official announcements, strategic developments, and financial updates.
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Content Coverage Includes: Quarterly financial results, mergers & acquisitions, Lloyd’s syndicate participation updates, and joint venture formations. Discover insights into RNR’s underwriting discipline and its impact on reinsurance industry dynamics.
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The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has nominated Shyam Gidumal for election as an independent director at the Annual General Meeting in May 2022. Gidumal, who has over 35 years of operational and advisory experience, previously served as Chief Operating Officer at WeWork. He succeeds Jean Hamilton, who will retire after 17 years on the Board. Both the CEO and the non-Executive Chair expressed confidence that Gidumal's leadership will enhance the company's global operations and governance, while thanking Hamilton for her significant contributions.
RenaissanceRe Holdings Ltd. (NYSE: RNR) has increased its quarterly dividend to $0.37 per share, up from $0.36. This marks the 27th consecutive annual dividend increase since its IPO. The new dividend is payable on March 31, 2022, to shareholders of record as of March 15, 2022. Additionally, the Board approved an extension of the share repurchase program, raising the total authorization to $500 million. Share repurchases will depend on market conditions and capital needs, showcasing the company's commitment to returning value to shareholders.
RenaissanceRe reported a net loss of $73.4 million for 2021, with an operating income of $81.6 million. Gross premiums written surged by $2 billion (34.9%) and net premiums increased by $1.8 billion (45%). The combined ratio for the Casualty and Specialty segment was 92.5% in Q4. The company repurchased $326.9 million in shares in Q4 and $1 billion in 2021. Weather-related losses had a $962.1 million negative impact on net loss for the year. The company raised $1.1 billion in capital in 2021, including $258 million from RenaissanceRe itself.
RenaissanceRe Holdings Ltd. (NYSE: RNR) will host a conference call on January 26, 2022, at 10:00 a.m. ET to discuss its financial results for the fourth quarter and year-end 2021, releasing results on January 25, 2022. Investors can access a live webcast through the company's website. Notably, RenaissanceRe specializes in reinsurance and insurance, effectively matching structured risks with capital sources since its establishment in 1993, maintaining a global presence with offices in key regions including Bermuda, Australia, Ireland, Singapore, Switzerland, the UK, and the US.
The Board of Directors of RenaissanceRe Holdings (NYSE: RNR) has declared a quarterly dividend of
RenaissanceRe reported a net loss of $726.8 million for Q3 2021, primarily due to significant weather-related losses from Hurricane Ida and flooding in Europe. Gross premiums written surged to $1.77 billion, marking a 55.2% increase year-over-year. The company repurchased $223.8 million of common shares in Q3 and a total of $704.5 million for 2021. However, the underwriting loss reached $678.8 million, resulting in a combined ratio of 145.1%. Despite these setbacks, management emphasized their strong capital position and strategic focus on profitable growth.
RenaissanceRe Holdings Ltd. (NYSE: RNR) reported a net negative impact of approximately $725 million from 2021 catastrophe events on Q3 results. This includes $440 million from Hurricane Ida and $210 million from severe flooding in Northwestern Europe. The estimates remain uncertain due to limited claims data and other variables affecting loss estimation. CEO Kevin O'Donnell highlighted the company's commitment to promptly pay claims and its strong balance sheet, positioning it for leadership in the global reinsurance market in 2022.
RenaissanceRe Holdings Ltd. (NYSE: RNR) will host a conference call on October 26, 2021, at 10:00 a.m. ET, to discuss its third-quarter financial results and outlook. The results will be released after market close on October 25, 2021. Investors can access a live webcast via the RenaissanceRe website, with an archived version available from 1:00 p.m. ET on October 26 through midnight ET on November 26, 2021.
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) declared a quarterly dividend of $0.36 per common share, payable on September 30, 2021 to shareholders recorded by September 15, 2021.
Additionally, they renewed the authorized share repurchase program, raising the total authorization to $500 million, which will remain effective until the full amount is repurchased. Share repurchases will depend on market price and capital needs.
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