RenaissanceRe Q3 2020 Earnings Report

Reported net income available to common shareholders, but experienced an operating loss due to climate-change driven catastrophic events.

Key Takeaways

RenaissanceRe reported a net income of $47.8 million, or $0.94 per diluted common share, in Q3 2020, compared to $36.7 million, or $0.83 per diluted common share, in Q3 2019. However, the company experienced an operating loss of $131.7 million, or $2.64 per diluted common share, due to significant catastrophic events.

Net negative impact of $321.7 million on net income available to RenaissanceRe common shareholders from Q3 2020 Large Loss Events.

Gross premiums written increased by $282.0 million, or 32.7%, to $1.1 billion.

Underwriting loss of $206.1 million and a combined ratio of 120.6%.

Total investment result was $307.8 million, generating an annualized total investment return of 6.2%.

Total Revenue

$1.33B

Previous year: $1.05B