The market expects RenaissanceRe (RNR) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 28, 2025, might help the stock move higher if these key numbers ...

RenaissanceRe Holdings Ltd. (RNR) is currently aided by improved premiums and investment income, sturdy segmental performances, buyouts, and a solid financial position. The rise in returns from the fixed maturity portfolio and improving underwriting results add further momentum.In the past six months, RNR has delivered 11% growth, outperforming the industry’s 2.1% growth. The company’s price performance also outperformed its peers, such as First American Financial Corporation (FAF) and Fidelity National Fin ...

RenaissanceRe Holdings Ltd. (RNR) is currently trading at a discount compared to the industry average. The stock is currently trading at 1.34X, trailing 12-month tangible book value, which compares to 1.57X for the industry, indicating undervaluation. The company has a Value Score of B.Image Source: Zacks Investment ResearchIn the past three months, RNR has delivered 5.9% growth, outperforming the industry’s 2.8% growth. The company’s price performance also outperformed its peers, such as First American Fin ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? The Zacks Style Sc ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Score ...

RenaissanceRe Holdings Ltd. (RNR) reported third-quarter 2024 operating income of $10.23 per share, which surpassed the Zacks Consensus Estimate by 29.7%. The bottom line advanced 21.6% year over year.Total operating revenues soared 45.7% year over year to $3 billion. The top line beat the consensus mark by 3.7%.Its shares lost 4.4% on Thursday. Despite the earnings beat, the quarterly results were hurt by a rise in total expenses due to increased claims and acquisition costs, alongside a deterioration in c ...

Financial Data and Key Metrics - Operating income for Q3 2024 was $540 million, representing a 22% operating return on average common equity [5] - Year-to-date operating income reached $1.8 billion with a 26% operating return on equity [5] - Net income for Q3 2024 was $1.2 billion, with an annualized return on average common equity of 47% [22] - Underwriting income was $394 million with an adjusted combined ratio of 82% [23] - Retained net investment income was $292 million, up 35% year-over-year [23] - Tangible book value per share plus accumulated dividends increased by 30% since December 2023 [25] Business Line Performance - Property Catastrophe gross premiums written increased by 114% to $344 million, while net premiums written grew by 175% to $262 million [29] - Other Property gross premiums written rose by 28%, and net premiums written increased by 26% [32] - Casualty and Specialty net premiums written grew by 45% and 50%, respectively [35] - Fee income from Capital Partners business was $82 million, up 27%, with management fees at $55 million and performance fees at $27 million [39] Market Performance - The Property Catastrophe market remains disciplined with reinsurers holding on retentions and terms, despite increased demand for reinsurance [16] - U S cat limit purchases are estimated to increase by $10 billion in 2025, creating new opportunities [17] - Casualty lines are increasingly competitive, with the company engaging customers to provide feedback on rate and trend observations [21] Strategic Direction and Industry Competition - The acquisition of Validus has significantly contributed to growth across underwriting, investments, and Capital Partners business [8] - The company has successfully integrated Validus, unlocking $1 billion in capital and increasing financial flexibility [10][11] - The company is focusing on maintaining its book and seeking additional opportunities with existing customers in Specialty lines [18] - The Casualty business cycle is viewed over a 10-year scale, with the company advocating for accelerated rates to maintain attractiveness [20] Management Commentary on Operating Environment and Future Outlook - The company expects the Property market to remain attractive, with favorable rate environments in 2025 [17] - Management is optimistic about achieving additional rate increases in Casualty lines due to positive customer engagement [21] - The company anticipates continued strong returns in 2025, driven by its three profit drivers: underwriting, investments, and Capital Partners [5] Other Important Information - The company increased its share repurchase authorization from $500 million to $750 million, reflecting its larger scale and capital flexibility [14] - Hurricane Milton is estimated to have a net negative impact of $275 million in Q4 2024, based on an industry loss estimate of $25 billion [34] - The Bermuda Government will implement a 15% corporate income tax in 2025, with the company starting to accrue for this tax in Q1 2025 [45] Q&A Session Summary Question: Impact of excess capital on 1 1 renewals and potential rate declines [72] - The company believes the additional $10 billion in new capacity will stabilize the pricing environment, with rates remaining fair and adequate [72] Question: Casualty Specialty combined ratio and reserve adjustments [73] - The company is increasing the combined ratio to mid-to-upper 90s in 2025, reflecting forward-looking trends and current accident year adjustments [74][75] Question: Loss trend issues and prior year reserves [80] - The company's reserving process is independent of client bookings, with a focus on maintaining resilient reserves through prudent underwriting and portfolio construction [81] Question: Share repurchase authorization increase [82] - The increase reflects the company's larger scale and the completion of Validus integration, providing greater capital flexibility [83][84] Question: Equity capital needs and excess capital [86] - The company manages with a degree of undeployed capital for flexibility, expecting opportunities to deploy capital in 2025 while returning excess to shareholders [86] Question: Impact of European losses on 1 1 renewals [87] - Loss activity in Europe and North America is expected to stabilize retentions and structures, with price discussions centered around current levels [87] Question: Adequacy of share repurchase authorization [91] - The company evaluates share repurchase opportunities quarterly, with the ability to deploy capital into the business and return excess to shareholders [94] Question: Special dividends as a capital return mechanism [95] - The company prefers share buybacks due to their accretive nature to tangible book value per share, with no immediate plans for special dividends [95] Question: Casualty and Specialty reserve movement by accident year [96] - Purchase accounting adjustments affected prior year reserves by approximately $10 million, with the company maintaining a balanced portfolio in better years [96][97] Question: Shifting focus to excess of loss in Casualty lines [98] - The company emphasizes quota share structures for alignment with clients, with seeding commissions reducing and benefiting net positions [98][99] Question: Casualty Specialty guidance and rate assumptions [102] - The company has priced in additional loss trend and rate increases for 2025, reflecting market responses to accelerating loss trends [103] Question: Retrocapacity availability in 2025 [107] - The company expects stable retrocapacity in 2025, with plans to purchase slightly less retro to shape its portfolio [107] Question: Casualty loss ratio improvement assumptions [110] - The company sets initial loss picks independently and adjusts curves slowly, reflecting cautious reserving practices and a focus on margin enhancement [110][112] Question: Engagement with Casualty seeding and reserve adjustments [114] - The company has engaged early with brokers and clients to gather data on trends, claim settlement practices, and underwriting adjustments for 2025 pricing [114][115]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14428 RENAISSANCERE HOLDINGS LTD. (Exact Name Of Registrant As Specified In Its Charter) Bermuda 98-0141974 (State or Other Jurisdicti ...

RenaissanceRe (RNR) reported $3.01 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 45.7%. EPS of $10.23 for the same period compares to $8.33 a year ago.The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $2.9 billion. With the consensus EPS estimate being $7.89, the EPS surprise was +29.66%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

RenaissanceRe (RNR) came out with quarterly earnings of $10.23 per share, beating the Zacks Consensus Estimate of $7.89 per share. This compares to earnings of $8.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 29.66%. A quarter ago, it was expected that this insurance company would post earnings of $10.88 per share when it actually produced earnings of $12.41, delivering a surprise of 14.06%.Over the last four quarters, th ...