Earnings ·
Reports Q3 net loss of $161.4M and operating income of $512.6M with a 79.7% combined ratio
RNRRenaissancere Holdings Ltd
RenaissanceRe reported a third-quarter net loss attributable to common shareholders of $161.4 million, or $4.02 per diluted share, driven by $879.8 million in mark-to-market investment losses and large loss events including the Middle East War and Ras Laffan Explosion. Operating income available to common shareholders was $512.6 million, or $12.71 per diluted share, supported by a 79.7% combined ratio and $440.9 million in net investment income. The company repurchased $310.1 million of shares during the quarter and an additional $143.8 million through late October. RenaissanceRe is a global provider of reinsurance and insurance that specializes in matching desirable risk with efficient capital.