5th November 2023

RenaissanceRe reports Q3 2023 Net Income of $194m

Highlights are:
-Income available to Common Shareholders of $422.3m.
-Completed acquisition of Validus Re from American International Group, Inc. on 1st November 2023,
accelerating the company’s strategy.
- Annualised return on average common equity of 11.5% and an annualised operating return on average common equity of 250%, which includes a dilutive effect of nearly 5 percentage points from the capital raised in Q2 2023 to fund the Validus Acquisition.
-Overall combined ratio of 78.
-Fee income of $64.m; up 150.9% from Q3 2022.
-Net investment income of $329.1m; up 108.6% from Q3 2022.

RenaissanceRe Trends(154 articles)