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Sep 30, 2021
RenaissanceRe Q3 2021 Earnings Report
Reported a net loss attributable to common shareholders and experienced significant impact from weather-related large losses.
Key Takeaways
RenaissanceRe reported a net loss attributable to common shareholders of $450.2 million and an operating loss attributable to common shareholders of $414.5 million for the third quarter of 2021. The results were significantly impacted by Hurricane Ida, severe flooding in Northwestern Europe, and other catastrophe events, which contributed to a $726.8 million net negative impact on net loss attributable to common shareholders. However, the company saw strong growth in gross premiums written, increasing by 55.2% across both segments, and repurchased $223.8 million of common shares during the quarter.
Net loss attributable to common shareholders was $450.2 million.
Operating loss attributable to common shareholders was $414.5 million.
Gross premiums written increased by 55.2% due to growth across both segments.
The company repurchased $223.8 million of common shares during the third quarter.
Forward Guidance
RenaissanceRe looks forward to 2022 with a strong capital position, providing flexibility to create value for shareholders. They anticipate ample capacity to renew existing risk and underwrite new opportunities if sufficiently profitable, and are also motivated to return excess capital to shareholders.
Positive Outlook
- Maintaining a robust capital position.
- Business fundamentals remain strong.
- Fortress balance sheet provides great flexibility.
- Ample capacity to renew existing risk.
- Motivated to return excess capital to shareholders at attractive multiples.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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