RenaissanceRe reports Q1 operating EPS ($1.49), consensus (85c)

Kevin J. O’Donnell, President and Chief Executive Officer, said, “This quarter, we grew our primary metric, tangible book value per share plus accumulated dividends, against a backdrop of elevated natural catastrophe losses and significant macroeconomic volatility. We also recorded an annualized return on average common equity of 6.6% and a modest operating loss while returning $380 million of capital to our shareholders through buybacks and dividends. Our ability to deliver enduring shareholder value in times of instability demonstrates the strength of RenaissanceRe’s (RNR) platform, the benefit of our Three Drivers of Profit and the value we bring as a risk provider.”