Financial Data and Key Metrics Changes - The company reported operating income of $734 million for Q3 2025, with an operating return on average common equity of 28% [5] - Year-to-date operating income reached almost $1.3 billion, delivering about a 17% operating return on average common equity [5] - Tangible book value per share plus change in accumulated dividends grew by 10% in the quarter and nearly 22% year-to-date [5][6] - Annualized return on equity was 35% for the quarter, with operating return on equity at 28% [14] Business Line Data and Key Metrics Changes - Underwriting income increased to $770 million, nearly double from Q3 2024, with retained net investment income rising to $305 million, up 4% [15] - Fee income reached $102 million, up 24% [15] - The adjusted combined ratio for underwriting was 67%, reflecting disciplined underwriting and low catastrophe losses [19] - Gross premiums written were $2.3 billion, with net premiums written at $2 billion, slightly down from the comparable quarter [20] Market Data and Key Metrics Changes - The property catastrophe portfolio grew from $2 billion in gross written premium in 2022 to around $3.3 billion in 2025 [7] - The company expects property catastrophe rates to decline by about 10% in 2026, although some accounts may see stable or increased rates due to specific conditions [31][32] - The casualty and specialty segment maintained a combined ratio in the high 90s, with a focus on managing exposure to U.S. general liability [36] Company Strategy and Development Direction - The company aims to prioritize margin over growth, focusing on strong underwriting practices to maintain profitability [9] - It plans to continue growing tangible book value per share at an attractive pace, leveraging its strong underwriting and investment capabilities [6][39] - The company is committed to returning capital to shareholders, having returned over $1 billion so far in 2025 through share repurchases [8][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as decreasing property catastrophe rates and falling short-term interest rates but expressed confidence in overcoming these through disciplined execution [8][39] - The company anticipates continued demand growth in property catastrophe, although at a slower rate than in previous years [9][31] - Management emphasized the importance of maintaining strong customer relationships to capitalize on future growth opportunities [10][36] Other Important Information - The company has returned over $1 billion in capital to shareholders in 2025, reflecting its strong capital position and belief in the value of its shares [8][18] - Retained net investment income is expected to persist and potentially grow as the asset base increases [25] Q&A Session Summary Question: What is the normal expectation for fee income and net investment income contributions to return in 2026? - Management expects around 11-12% from investment income and about 3% from fees as a starting point for 2026 [41] Question: What is the expected ROE on cat business written in 2026? - Management indicated that while rates may decline, the business remains profitable with strong rate adequacy, suggesting continued positive outlook [45][46] Question: How is third-party capital influencing pricing in 2026? - Management noted that third-party capital is not the primary driver of pricing; traditional reinsurers' comfort with return levels is more influential [54][56] Question: Can you provide insights on the casualty and specialty segment's pricing? - Management observed that pricing increases have primarily occurred at the insurer level, benefiting the reinsurance side, and emphasized ongoing optimization of their portfolio [78][80]

RenaissanceRe Holdings Ltd. Contents | | Page | | --- | --- | | Basis of Presentation | i | | Financial Highlights | 1 | | Summary Consolidated Financial Statements | | | a. Consolidated Statements of Operations | 3 | | b. Consolidated Balance Sheets | 4 | | Underwriting and Reserves | | | a. Segment Underwriting Results | 5 | | b. Segment Underwriting Results - Five Quarter Trend | 7 | | c. Property Segment - Catastrophe and Other Property Underwriting Results | 10 | | d. Gross Premiums Written | 12 | | e. ...

Core Insights - Oxbridge Re Holdings Limited is a leader in digitizing reinsurance securities as tokenized real-world assets, with its subsidiary SurancePlus focusing on this innovative approach [1][5] - The upcoming panel at Uncorrelated Cayman 2025 will discuss the impact of tokenization and stablecoins on traditional finance and on-chain markets, highlighting regulatory and custody considerations [2][3] - SurancePlus aims to democratize access to reinsurance as an alternative investment, offering high-yield opportunities supported by blockchain infrastructure and regulatory compliance [4][7] Company Overview - Oxbridge Re Holdings Limited is headquartered in the Cayman Islands and offers tokenized Real-World Assets as reinsurance securities and business solutions to property and casualty insurers [5] - The company operates through subsidiaries including SurancePlus Inc, Oxbridge Re NS, and Oxbridge Reinsurance Limited, focusing on the Gulf Coast region of the United States for property and casualty reinsurance [6] Investment Opportunities - SurancePlus has introduced two tokenized offerings for the treaty year 2025/2026, targeting annual returns of 20% for EtaCat Re and 42% for ZetaCat Re [8]

Core Viewpoint - Oxbridge Re Holdings Limited plans to hold a conference call on November 6, 2025, to discuss its third-quarter financial results for the period ending September 30, 2025, with results to be released after market close on the same day [1] Group 1: Company Overview - Oxbridge Re Holdings Limited is a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs) [1] - The company is headquartered in the Cayman Islands and offers tokenized RWAs and reinsurance business solutions to property and casualty insurers through its subsidiaries [3] - Subsidiaries include SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited [3] Group 2: Subsidiary Focus - SurancePlus Inc., a Web3-focused subsidiary, has developed the first "on-chain" reinsurance RWA sponsored by a publicly traded company [5] - By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus democratizes access to reinsurance as an alternative investment for both U.S. and non-U.S. investors [5] Group 3: Conference Call Details - The conference call is scheduled for November 6, 2025, at 4:30 p.m. Eastern time, with a listen-only toll-free number provided for participants [2] - A replay of the call will be available until November 20, 2025, with specific toll-free and international replay numbers [3]

Core Viewpoint - The article highlights three stocks with strong income characteristics and a buy rank for investors to consider as of October 24 Group 1: Stock Analysis - SCOR SE (SCRYY) is a reinsurance company with a Zacks Consensus Estimate for current year earnings increasing by 6% over the last 60 days and a dividend yield of 4.1%, significantly higher than the industry average of 1.7% [1] - Royal Bank of Canada (RY) is a diversified financial services company with a Zacks Consensus Estimate for current year earnings increasing by 5.3% over the last 60 days and a dividend yield of 3.1%, slightly above the industry average of 3% [2] - Universal Insurance Holdings, Inc. (UVE) is an insurance holding company with a Zacks Consensus Estimate for current year earnings increasing by 63.8% over the last 60 days [2]

Strategic Transaction Accelerates FG Nexus ETH Treasury Strategy Positions FG Reinsurance as a Pioneer in Tokenized Reinsurance Charlotte, NC, Oct. 23, 2025 (GLOBE NEWSWIRE) -- FG Nexus Inc. (Nasdaq: FGNX, FGNXP) (the “Company” or “FG Nexus”), today announced an agreement to sell a majority stake in FG Reinsurance Ltd. and FG Re Solutions Limited (the “FG Reinsurance Division”) to Devondale Holdings LLC (“Devondale”) led by industry veteran Tom Heise. Through the transaction, FG Nexus will receive approxima ...

Core Viewpoint - The market anticipates a year-over-year decline in Everest Group's earnings despite higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Everest Group is expected to report quarterly earnings of $13.39 per share, reflecting an 8.4% decrease year-over-year, while revenues are projected to be $4.45 billion, a 3.8% increase from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 14.96% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that Everest Group has an Earnings ESP of 0%, suggesting no recent differing analyst views from the consensus estimate [11]. The company holds a Zacks Rank of 2, complicating predictions of an earnings beat [11]. Historical Performance - In the last reported quarter, Everest Group exceeded the expected earnings of $15.14 per share, achieving $17.36, resulting in a surprise of +14.66% [12]. Over the past four quarters, the company has beaten consensus EPS estimates twice [13]. Market Reaction Factors - An earnings beat or miss alone may not dictate stock movement, as other factors can influence investor sentiment [14]. Betting on stocks expected to beat earnings can improve success odds, making it essential to check Earnings ESP and Zacks Rank before quarterly releases [15]. Conclusion - Everest Group does not currently appear to be a strong candidate for an earnings beat, but investors should consider additional factors when making investment decisions ahead of the earnings release [16].

Core Insights - FGH Parent (FGP), along with Fortitude Re and Carlyle, has launched a new reinsurance sidecar named Fortitude Carlyle Asia Reinsurance (FCA Re) to enhance Fortitude Re's operations in the Asian life and annuity insurance market [1][2] Group 1: FCA Re Overview - FCA Re is a Class E-licensed reinsurer based in Bermuda, aimed at facilitating Fortitude Re's growth in Asia [1] - The initial focus of FCA Re will be to assume a portion of Fortitude Re's existing liabilities and provide reinsurance for future transactions in the Asian market [2] Group 2: Financial Commitments and Structure - FCA Re has a capital base exceeding $700 million, which includes both equity and anticipated debt capacity [2] - Equity commitments have been secured from Fortitude Re, Carlyle, and a consortium of international institutional investors, including T&D Insurance Group, AllianceBernstein, Shinhan Life, and the National Pension Service of Korea [3] Group 3: Strategic Implications - Once fully deployed, FCA Re is expected to contribute approximately $10 billion in fee-earning assets under management to Carlyle [4] - The initiative is seen as a strategic extension of Carlyle's approach to providing integrated asset, capital, and liability solutions to insurance clients globally [4][5] Group 4: Recent Transactions - Earlier in the year, Fortitude Re completed a $4 billion reinsurance transaction with Taiyo Life Insurance, part of T&D Holdings [6]

Core Insights - AllianceBernstein L.P. plans to expand its insurance presence in Asia through an equity investment in Fortitude Carlyle Asia Reinsurance, Ltd. [1][2] - The investment positions AllianceBernstein as a lead investor in FCA Re, which focuses on Asian liabilities and will manage private alternative assets for the reinsurance entity [2][3] - The partnership aims to enhance innovative solutions for clients in the Asian market, reflecting AllianceBernstein's commitment to growth in the region [3] Company Overview - AllianceBernstein has over 40 years of experience serving insurance companies and currently manages nearly $190 billion in insurance-related assets as of June 30, 2025 [3][4] - As of September 30, 2025, AllianceBernstein's total assets under management reached $860 billion [4] Strategic Goals - The investment in FCA Re is part of AllianceBernstein's broader growth strategy in the Asia Insurance Market, reinforcing its long-term commitment to the region [3]

Core Insights - The rise of catastrophe bonds is impacting the market share of reinsurers, with primary insurers increasingly relying on these bonds instead of traditional reinsurance [1][2] - The market for catastrophe bonds has grown significantly, with estimates indicating a growth of over 50% to $55 billion since 2023 [3] - Reinsurers are experiencing pressure on their rates due to the shift towards capital markets for risk transfer, leading to price corrections and diminished market dominance [6] Market Dynamics - Primary insurers now sponsor 58% of all catastrophe bonds, up from 48% two years ago, indicating a shift in reliance from reinsurers [1] - Reinsurers remain dominant but are losing market share to alternative investment managers seeking higher returns [2] - The increasing reliance on capital markets coincides with rising costs from natural catastrophes, with industry losses expected to exceed $150 billion this year [3] Catastrophe Bonds Performance - Catastrophe bonds can yield significant returns if no catastrophic event occurs, as evidenced by the Swiss Re Global Cat Bond Performance Index, which gained about 10% this year [4][5] - The issuance of catastrophe bonds has reached record levels, with projections for continued growth into 2025 [5] Reinsurers' Response - Some reinsurers are adapting by increasing their involvement in the catastrophe bond market, both as issuers and investment managers [7] - Swiss Re emphasizes the importance of capital market instruments as complementary to traditional reinsurance, aiming to provide effective risk transfer solutions [8]