📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance contracts to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S. multi-line reinsurance. The Casualty and Specialty segment writes various classes of products, such as directors and officers, medical malpractice, transactional liability, and professional indemnity; automobile and employer’s liability, casualty clash, umbrella or excess casualty, workers’ compensation, and general liability; financial and mortgage guaranty, political risk, surety, and trade credit; and accident and health, agriculture, aviation, construction, cyber, energy, marine, satellite, and terrorism. The company distributes products and services primarily through intermediaries. It invests in and manages funds. RenaissanceRe Holdings Ltd. was incorporated in 1993 and is headquartered in Pembroke, Bermuda.

Key Ratios Snapshot

📈 Growth Pattern

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🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Kevin O'Donnell declared 'I have never been more pleased' and called results 'exceptional' and 'outstanding'. Specific figures were provided: 24% operating ROE, 73% combined ratio, $602M underwriting income, and $95M fees. Detailed metrics were given for property cat growth (13% in U.S.), private terms (80% of Florida premium at above-market rates), and expected Q3 figures for other property and casualty segments.

Q3 2025

Confident Specific

Management used specific metrics (10 of 12 quarters >20% OR, $1.3B operating income YTD, record EPS) and repeatedly emphasized sustained strong performance and ability to navigate market changes. No defensiveness or evasion.

Q4 2025

Confident Specific

Management used precise numbers (operating income $1.9B, ROE 18%, TBV growth 30%, share repurchases $650M) and provided specific forward guidance on rates, expenses, and margins. No hedging or uncertainty expressed.

Q1 2026 latest

Confident Specific

Management used assertive language like 'proud of the quarter's results', 'strong operating income', and gave specific figures (operating income $591M, 22% annualized ROE, operating EPS $13.75). They proactively addressed headwinds such as mark-to-market losses and share repurchases, framing them as temporary and constructive.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. RenaissanceRe demonstrated that its diversified earnings model (underwriting, fee, investment income) can deliver excellent returns even as property-cat rates decline and competition intensifies. Management provided specific Q2 guidance showing continued profitability and disciplined capital allocation, including aggressive buybacks. The proactive portfolio shifts (reducing gold, locking in higher yields, extending duration) improved future earnings power. However, the vagueness around Iran casualty losses and the absence of a specific ROE target suggest some caution in the casualty cycle. Key items to watch next quarter: midyear renewal pricing and demand, actual Iran loss emergence, expense ratio trajectory, and pace of share repurchases. Overall, the call reinforces confidence in management's ability to navigate a competitive market while compounding book value.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED RenaissanceRe Q1 2026 operating income $591M, 22% annualized operating ROE.

Revenue & Profitability

Operating income was $591M, with operating EPS of $13.75 and an annualized operating return on equity of 22%. Underwriting income was $589M, fee income $94M, and retained net investment income $304M. The company reported $357M of retained mark-to-market losses and repurchased $353M of shares. Tangible book value per share increased 1.5% to $233.49.

Outlook

Management described a constructive outlook with rates remaining adequate despite competitive pressure. Geopolitical risk is elevated and markets are volatile. For midyear renewals, U.S. property catastrophe rates are down roughly 10% but remain highly accretive. New demand for U.S. cat limit is estimated at $10-15 billion. Florida continues to benefit from improved terms and tort reform.

Growth Drivers

Key growth levers include deploying $1 billion of new limit in property catastrophe, especially in select California deals and nationwide accounts, and growing in Florida. In Casualty & Specialty, the company is shifting the portfolio mix toward specialty and credit lines, which now make up over half of the segment. The investment portfolio was repositioned: duration extended to 3.4 years and new money yield increased from 4.8% to 5.1%.

Balance Sheet & CapEx

Not discussed in this earnings call in terms of specific CapEx guidance. The company mentioned investments in a new front office system for REMS and expects the operating expense ratio to grow from 4.1% to 5%–5.5% over the year as it invests in people and platform.

Margins

Overall adjusted combined ratio was 72%. Property catastrophe combined ratio was 19.2%, Other Property 66.1%, and Casualty & Specialty 99.4% (guided to high 90s). The operating expense ratio was 4.1% in Q1, expected to rise to 5%–5.5% due to investments. Underwriting margins in property remain strong, while casualty margins are tight but supported by investment income.

Key Risks

Management flagged elevated geopolitical risk (war in the Middle East) and market volatility (mark-to-market losses from interest rate moves). Casualty & Specialty is exposed to social inflation and loss trend uncertainty; the company reduced general liability exposure by 40% over two years. The war in the Middle East is not expected to have a significant impact due to low underwriting exposure and retrocessional protection.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-23

Operating income reached $548 million with a 20% ROE, and tangible book value per share grew 27% year-over-year. Underwriting, fee, and investment income all contributed, while disciplined capital management drove $350 million in share repurchases. Property catastrophe rates remain adequate, and the outlook is positive for the balance of 2026.

Q1 2026 Q1 2026 2026-04-29

Q1 2026 saw robust operating income of $591M and a 22% operating ROE, with strong contributions from underwriting, fee, and investment income. Share repurchases and portfolio adjustments supported long-term value, while disciplined risk management and favorable market conditions underpin a constructive outlook for 2026.

Q4 2025 Q4 2025 2026-02-04

Delivered $1.9B operating income and 18% ROE in 2025, with tangible book value per share up 30%. Despite large catastrophe losses, all profit drivers performed strongly, and disciplined capital management led to $1.6B in share repurchases.

Q3 2025 Q3 2025 2025-10-29

Q3 saw robust operating income, high ROE, and record EPS, with strong underwriting, investment, and fee income. Tangible book value per share rose 22% YTD, and over $1B was returned to shareholders. Despite expected rate pressure in 2026, profitability and capital management remain strong.

Q2 2025 Q2 2025 2025-07-24

Tangible book value per share grew 10% YTD and 20% YoY, with a 24% operating ROE and strong results across underwriting, investment, and fee income. Property Catastrophe premiums grew 8%, and share repurchases totaled $808 million YTD. Market conditions remain favorable and rate adequacy is expected to persist.

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