RenaissanceRe Holdings Ltd

Latest Results (18.12.2024):

Net Income and Operating Income

In the third quarter of 2024, RenaissanceRe Holdings Ltd reported a net income available to common shareholders of $1.2 billion. The operating income available to common shareholders was $540.3 million. This reflects a strong financial performance for the quarter, despite the challenges posed by large loss events.

Return on Equity

RenaissanceRe Holdings Ltd achieved an annualized return on average common equity of 47.1% in Q3 2024. The annualized operating return on average common equity was 21.7%, indicating robust profitability and efficient use of equity capital during the quarter.

Impact of Large Loss Events

The third quarter of 2024 saw large loss events having a net negative impact of $243.2 million on RenaissanceRe Holdings Ltd's net income available to common shareholders. These events added 12.7 percentage points to the company's combined ratio, highlighting the significant impact of catastrophic events on financial results.

Investment and Fee Income

RenaissanceRe Holdings Ltd reported a net investment income of $423.9 million in Q3 2024, marking a 28.8% increase from the same quarter in 2023. Additionally, the company earned fee income of $82.1 million, up 27.1% from Q3 2023, reflecting growth in its investment and fee-generating activities.

Share Repurchases and Future Outlook

During the third quarter of 2024, RenaissanceRe Holdings Ltd repurchased $106.8 million of common shares, demonstrating its commitment to returning capital to shareholders. Looking ahead, the company anticipates a net negative impact of $275.0 million from Hurricane Milton on its fourth-quarter results, but remains optimistic about delivering consistent, superior returns for shareholders through 2025 and beyond.