Welcome to our dedicated page for RenaissanceRe Holdings Ltd. news (Ticker: RNR), a resource for investors and traders seeking the latest updates and insights on RenaissanceRe Holdings Ltd. stock.
RenaissanceRe Holdings Ltd. (symbol: RNR) is a premier global provider of reinsurance and insurance solutions, founded in Bermuda in 1993. As one of the world’s largest and most successful catastrophe reinsurers, the company also excels in offering casualty and specialty reinsurance across a broad spectrum of products. RenaissanceRe selectively participates in the insurance market through RenaissanceRe Syndicate 1458 at Lloyd’s and manages significant joint ventures, such as DaVinci Reinsurance Ltd. and Top Layer Reinsurance Ltd., allowing partners to invest alongside them.
The company’s strengths lie in its disciplined underwriting approach, sophisticated risk models, and a proven track record of exceptional financial performance. RenaissanceRe’s main business segments include the Property Segment which covers catastrophe and other property reinsurance, and the Casualty and Specialty Segment that encompasses casualty and specialty reinsurance. The latter contributes to the majority of the company’s revenue.
Revenue streams for RenaissanceRe include net premiums earned from insurance and reinsurance products, net investment income from capital funds and cash, and other income derived from joint ventures, advisory services, and other related activities.
Recent achievements and current projects have solidified RenaissanceRe’s standing in the industry, showcasing their ability to respond to market needs with agility and precision. Their deep client relationships and commitment to excellent service continue to drive their success, further enhancing their reputation for reliability and expertise.
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.
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has declared a quarterly dividend of $0.37 per share, payable on September 30, 2022 to shareholders on record as of September 15, 2022. In addition, the Board has renewed its share repurchase program, increasing total authorization to $500.0 million. Shares may be bought back through open market and privately negotiated transactions, depending on market conditions and capital needs, thus potentially enhancing shareholder value.
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.
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