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Jun 30, 2023
RenaissanceRe Q2 2023 Earnings Report
RenaissanceRe's Q2 2023 financial results were announced, showcasing strong profitability and strategic growth initiatives.
Key Takeaways
RenaissanceRe reported a strong quarter with a 28.8% operating return on average common equity, driven by robust underwriting income and record fee and net investment income. The company also announced an agreement to acquire Validus Re from American International Group, Inc.
Net income available to common shareholders was $191.0 million.
Operating income available to common shareholders was $407.4 million.
The company achieved a 28.8% annualized operating return on average common equity.
An agreement to acquire Validus Re from American International Group, Inc. in a $2.985 billion transaction was announced.