RenaissanceRe Q2 operating income up driven by strong underwriting

RenaissanceRe Holdings

22/07/2026 21:30

    

    Overview
  
Reinsurance provider Q2 operating income per share rose yr/yr, driven by strong underwriting
Gross premiums written fell 10% yr/yr due to lower catastrophe and casualty business
Company repurchased $350 mln of common shares in Q2 2026

    

    Outlook
  
Company did not provide specific guidance for future quarters or the full year

    

    Result Drivers
  
UNDERWRITING PERFORMANCE - Strong underwriting results, especially in Property, with a 27.1% combined ratio and low catastrophe losses, drove overall profitability
FAVORABLE PRIOR YEAR DEVELOPMENT - $199.4 mln of net favorable prior year reserve development, mainly in Property, supported results
HIGHER NET INVESTMENT INCOME - Net investment income rose 4.7% yr/yr to $432.5 mln, mainly due to higher average invested assets and portfolio reallocation

    
Company press release: ID:nBw3P9cDNa

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Gross Premiums
 
$2.99 bln
 
Q2 Combined Ratio
 
72.80%
 
Q2 Fee Income
 
$83 mln
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the reinsurance peer group is "buy."
Wall Street's median 12-month price target for Renaissancere Holdings Ltd is $329.00, about 2.4% above its July 21 closing price of $321.18
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

    

    Reuters Recommended Reads
  
July 21 - Munich Re reviewing P&C reinsurance revenue outlook, Boersen-Zeitung newspaper reports
July 21 - Chubb Q2 adjusted EPS beats estimates on underwriting discipline
July 20 - W. R. Berkley's Q2 EPS up, gross premiums rise 4%

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)