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Mar 31
RenaissanceRe Q1 2025 Earnings Report
RenaissanceRe reported mixed results impacted by major catastrophe events but posted solid investment returns in Q1 2025.
Key Takeaways
RenaissanceRe experienced a challenging quarter due to $702.8M in net losses from major events like the California Wildfires but managed to deliver positive net income and strong investment gains.
Reported net income of $161.1 million despite $702.8 million in catastrophe-related losses.
Operating loss of $69.8 million with a diluted operating EPS of -$1.49.
Achieved a total investment result of $738.3 million driven by fixed income and derivatives gains.
Tangible book value per share plus accumulated dividends grew 0.9%.
RenaissanceRe
RenaissanceRe
RenaissanceRe Revenue by Segment
Revenue by Segment
Property Revenue
CapyFin.comCasualty & Specialty Revenue
CapyFin.com Forward Guidance
No explicit forward guidance provided in the report, but commentary highlights focus on value creation amid volatility.
Positive Outlook
- Tangible book value per share grew despite major catastrophe impacts.
- Strong investment performance across asset classes.
- New catastrophe bond fund launched with $341.5 million in capital.
- Raised $461.8 million in third-party capital across multiple platforms.
- Successfully returned $380 million to shareholders via buybacks and dividends.
Challenges Ahead
- Significant underwriting losses due to California Wildfires and other large events.
- Adjusted combined ratio climbed to 126.4%.
- Fee income down 63.5% year-over-year.
- Operating return on equity dropped to -2.9%.
- Casualty and Specialty segment posted underwriting loss of $163.4 million.