RenaissanceRe Q3 2023 Earnings Report
Key Takeaways
RenaissanceRe reported a net income available to common shareholders of $194.0 million and an operating income available to common shareholders of $422.3 million for Q3 2023. The company's annualized operating return on average common equity was 25.0%. On November 1, 2023, RenaissanceRe completed the acquisition of Validus Re from American International Group, Inc.
Completed acquisition of Validus Re on November 1, 2023, accelerating the Company’s strategy.
Annualized return on average common equity of 11.5% and an annualized operating return on average common equity of 25.0%, including a dilutive effect from capital raised in Q2 2023.
Overall combined ratio of 78.0%.
Fee income of $64.6 million; up 150.9% from Q3 2022.
RenaissanceRe
RenaissanceRe
Forward Guidance
As we approach the January 1 renewals, we remain resolutely focused on executing our strategy as a unified company, retaining the Validus portfolio and capturing additional attractive growth opportunities that support our customers and deliver value for our shareholders.