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 Ltd. (NYSE:RNR) announced the mandatory redemption of all 11 million outstanding 5.375% Series E Preference Shares on August 11, 2021, at $25.00 per share, plus accrued dividends. This decision is financed partly by proceeds from its 4.20% Series G Preference Share offering, which closed on July 12, 2021. The outstanding Series E Preference Shares will cease to earn dividends post-redemption. A notice of redemption has been mailed to registered holders, and inquiries can be directed to Computershare Trust Company.
RenaissanceRe Holdings Ltd. announced an underwritten public offering of 20,000,000 Depositary Shares, each representing a 1/1,000th interest in its 4.20% Series G Preference Shares, priced at $25 per share, totaling $500 million. The proceeds will primarily be used to redeem the 5.375% Series E Preference Shares. The offering is expected to close on July 12, 2021, subject to customary conditions. The shares will be listed on the NYSE under the symbol 'RNRPRG.'
RenaissanceRe Holdings Ltd. (NYSE: RNR) will host a conference call on July 23, 2021, at 10:00 a.m. ET to discuss its second-quarter 2021 financial results and future outlook. Results will be released after market close on July 22, 2021. The call will be accessible via a live webcast on RenaissanceRe's website, with an archived version available from July 23 to August 23, 2021. RenaissanceRe specializes in providing reinsurance and insurance solutions globally, focusing on efficiently matching risks with capital sources.
AM Best has affirmed the Financial Strength Rating (FSR) of A+ and Long-Term Issuer Credit Ratings (ICR) of “aa-” for RenaissanceRe and various associated companies, noting their strong balance sheet and operation performance. Additionally, DaVinci and Vermeer received favorable ratings, reflecting their balance sheet strengths and adequate performance. The outlook for all ratings is stable. RenaissanceRe maintains a competitive edge due to superior risk management and capitalization, positioning it well amid ongoing pricing improvements in the reinsurance market.
RenaissanceRe Holdings Ltd. (NYSE: RNR) declared a quarterly dividend of $0.36 per common share, payable on June 30, 2021, to shareholders of record on June 15, 2021. Additionally, the company renewed its share repurchase program, increasing the authorization to $500.0 million. This program allows repurchase through open market purchases, subject to market conditions and capital requirements. RenaissanceRe specializes in reinsurance and insurance solutions, operating globally since 1993.
RenaissanceRe Holdings Ltd. (NYSE: RNR) reported significant losses for Q1 2021, with a net loss of $(290.9M) or $(5.87) per diluted share. The underwriting loss was $(35.8M), attributed primarily to Winter Storm Uri, which negatively impacted results by $(179.8M). Despite these challenges, the company expanded its underwriting portfolio and is optimistic about future opportunities. Gross premiums written increased to $2.65B from $2.03B year-over-year. The combined ratio rose to 103.1%, indicating underwriting challenges, while the return on equity fell to -17.1%. There was a 5.3% decline in book value per share.
RenaissanceRe (NYSE: RNR) estimates a net loss of approximately $180 million due to Winter Storm Uri, impacting Q1 2021 results. The storm caused widespread damage in February 2021, particularly in Texas. Despite this loss, the company maintains a strong capital position and looks forward to mid-year renewal opportunities. The estimates of net impact may vary based on ongoing assessments and claims data. CEO Kevin J. O’Donnell emphasized their commitment to support affected customers and communities through rapid claim payments.
RenaissanceRe Holdings Ltd. (RNR) will hold a conference call on April 29, 2021, at 11:00 a.m. ET to discuss its first-quarter financial results and outlook. These results will be released after market close on April 28, 2021. A live webcast of the call will be available on the company's website, with an archived version accessible from April 29 until May 29, 2021. RenaissanceRe specializes in reinsurance and insurance, providing solutions mainly through intermediaries, with a presence in multiple countries worldwide.
RenaissanceRe Holdings Ltd. (NYSE: RNR) announced a rebranding of its Ventures business to "RenaissanceRe Capital Partners," effective immediately. Chris Parry will lead this division, focusing on managing third-party capital relationships and joint ventures, including DaVinci and others. Additionally, the strategic investments pillar has been renamed "RenaissanceRe Strategic Investments," overseen by Jonathan Anderson. This rebranding aims to enhance investment strategies and increase shareholder value. The company emphasizes its strong partnership approach as a key driver of its success over the past two decades.
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has approved an increase in the quarterly dividend to $0.36 per share, up from $0.35. This marks the twenty-sixth consecutive year of dividend increases since the company went public. The new dividend will be payable on March 31, 2021, to shareholders on record as of March 15, 2021.
RenaissanceRe specializes in providing reinsurance and insurance solutions globally, established in 1993 with offices in key financial centers.