RenaissanceRe Q3 2020 Earnings Report
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%.
RenaissanceRe
RenaissanceRe
Forward Guidance
The Company is monitoring Hurricane Delta and Hurricane Zeta, as well as wildfires impacting several Western U.S. states.