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Sep 30, 2022
RenaissanceRe Q3 2022 Earnings Report
Reported a net loss attributable to common shareholders and an operating loss due to Hurricane Ian and other catastrophe events.
Key Takeaways
RenaissanceRe reported a net loss attributable to common shareholders of $825.3 million and an operating loss attributable to common shareholders of $396.7 million for Q3 2022. The results were significantly impacted by Hurricane Ian and other catastrophe events, which contributed to a $648.4 million net negative impact.
Hurricane Ian and other catastrophe events led to a $648.4 million net negative impact on net loss attributable to common shareholders.
Net investment income grew by 101.6% compared to Q3 2021.
Casualty and Specialty combined ratio improved by 3.9 percentage points from Q3 2021 to 95.7%.
Net premiums written increased by 22.6%, driven by a 39.7% growth in Casualty and Specialty.
Forward Guidance
RenaissanceRe is positioned to deliver an attractive return to its investors through materially increased underwriting profit, robust fee income, and significantly higher investment income.
Positive Outlook
- Materially increased underwriting profit
- Robust fee income
- Significantly higher investment income
- Strategic focus on reinsurance
- Strong capital and industry leadership
Challenges Ahead
- Exposure to natural and non-natural catastrophic events
- Effect of climate change
- Volatility in the financial market
- Effects of inflation
- Uncertainty of the continuing and future impact of the COVID-19 pandemic
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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