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Dec 31, 2022
RenaissanceRe Q4 2022 Earnings Report
RenaissanceRe's Q4 2022 financial results were reported, featuring net income available to common shareholders of $448.1 million and operating income of $322.2 million.
Key Takeaways
RenaissanceRe reported an excellent quarter with a 29.6% annualized operating return on average common equity, driven by strong underwriting results, significantly increased net investment income, and stable management fees. The company demonstrated leadership and discipline at the January renewal, achieving a step change in rate and terms investors required, while providing the reinsurance capacity customers needed.
41.2% annualized return on average common equity and 29.6% annualized operating return on average common equity in Q4 2022.
Net investment income of $211.2 million in Q4 2022, a 162.5% growth compared to Q4 2021.
21.2% growth in net premiums written in 2022, driven by 41.6% growth in Casualty and Specialty.
Casualty and Specialty combined ratio of 93.7% in Q4 2022 and 95.3% in 2022.
RenaissanceRe
RenaissanceRe
Forward Guidance
RenaissanceRe anticipates continuing strong demand for its products and expects a successful year in 2023.
Positive Outlook
- Expectations of continuing strong demand for RenaissanceRe's products.
- Ample capital to meet the demand.
- Anticipation of one of the most successful years in RenaissanceRe's history.
- Demonstrated leadership and discipline at the January renewal.
- Achieved a step change in rate and terms investors required.