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Jun 30, 2020
RenaissanceRe Q2 2020 Earnings Report
Reported strong financial results and accomplished several strategic goals.
Key Takeaways
RenaissanceRe reported a net income available to common shareholders of $575.8 million, or $12.63 per diluted common share, in the second quarter of 2020, compared to $367.9 million, or $8.35 per diluted common share, in the second quarter of 2019. Operating income available to common shareholders was $190.1 million, or $4.06 per diluted common share, compared to $198.8 million, or $4.47 per diluted common share, in the second quarter of 2019.
Gross premiums written increased by $225.0 million, or 15.2%, to $1.7 billion.
Underwriting income of $217.1 million and a combined ratio of 78.5%.
Total investment result was a gain of $537.7 million, generating an annualized total investment return of 11.8%.
Over $250.0 million of gross capital raised through the Company’s managed joint ventures and third-party capital vehicles.
Forward Guidance
The Company continues to evaluate industry trends and its own potential exposure associated with the ongoing COVID-19 pandemic, and expects historically significant industry losses to emerge over time as the full impact of the pandemic and its effects on the global economy are realized.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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