RNR
RenaissanceRe Holdings Ltd.272.44
+0.90+0.33%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
CAT rates soften further, adequacy robust
Q&A confirmed Property CAT premiums down mid-singles for full 2026 as rate pressure persists into midyear renewals, yet management insisted on robust rate adequacy—especially U.S. wildfire-hit layers—and plans net Southeast hurricane risk flat. Casualty answers stressed cautious reserving amid price persistence, flat ceding commissions, and ramped cedent collaboration on claims handling. Data centers surfaced as an early reinsurance opportunity requiring tight underwriting. Expense ratio guidance of 5-5.5% after tax credits funds scale investments; REMS rebuild goes client-centric and AI-ready. No walk-backs. Rate adequacy holds firm.
Key Stats
Market Cap
12.82BP/E (TTM)
7.60Basic EPS (TTM)
35.83Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
RenaissanceRe's FY2025 gross premiums written held flat at $11.7B, up 32% y/y from 2023, with Property growing 2.5% to $4.9B on catastrophe strength while Casualty & Specialty dipped 1.6%. Q4 momentum shone through $1.4B net negative impact from Large Loss Events (California Wildfires, Hurricane Melissa et al.), adding 15.3 pts to the combined ratio of 87.2%—yet prior-year favorable development swelled to $1.1B, beating 2024's $851M, as Property reserves beat expectations. Underwriting income fell to $1.3B; fee income ticked up to $329M; investments roared with $1.7B net income and $1.2B realized/unrealized gains on falling yields and gold. Share repurchases hit $1.6B, book value per share soared 26% to $247. Catastrophe variance looms large.
8-K
RenaissanceRe's strong 2025 results
RenaissanceRe posted $2.6B net income to common shareholders for 2025, with 25.9% ROE despite 15.3-point hit to 87.2% combined ratio from large losses like California Wildfires. Q4 shone: 71.4% combined ratio, $751.6M net income, $1.6B shares repurchased slashing count 12.8%. Book value per share leaped 26.2%. Large loss estimates carry uncertainty.
8-K
Extended LC facility to 2027
RenaissanceRe extended its secured $320 million letter of credit facility with Citibank Europe Plc, effective December 22, 2025. Availability now runs to December 31, 2026, expiry to 2027; optional expansion to $350 million possible. All other terms unchanged. Secures ongoing reinsurance operations.
10-Q
Q3 FY2025 results
RenaissanceRe posted Q3 net premiums earned of $2.4B, down 5.8% y/y yet underwriting income soared to $770M from $394M, thanks to no major cat losses versus Q3 2024's Hurricane Helene hit and $837M prior-year favorable development (derived). Diluted EPS fell to $19.40 from $22.62 on softer investment gains, confirmed against 46M diluted shares. Cash hit $1.7B with $3.2B YTD operating cash flow; debt rose to $2.2B after $790M new notes, offset by $450M maturities. Issued $500M 5.8% notes due 2035 in Feb. Solid ratings intact. Cat exposure stays volatile.
8-K
Q3 net income $907.7M
RenaissanceRe posted Q3 net income of $907.7M and operating income of $733.7M, fueled by a stellar 68.4% combined ratio from low catastrophe losses and 40.9% prior-year favorable development in property. Fee income jumped 24.1% to $101.8M; investments delivered $750.2M. Repurchased $205.2M in shares. Book value grew 9.0%. Casualty dragged with 101.4% ratio.
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