RenaissanceRe reports Q2 operating EPS $12.29, consensus $9.59

Reports Q2 revenue $3.21B, consensus $2.96B. Reports tangible book value per common share of $194.86 vs. $159.22 last year. The company said, “We delivered outstanding results this quarter, reporting 24.2% annualized operating return on average common equity and 10.4% year-to-date growth in tangible book value per common share plus change in accumulated dividends. Underwriting and fee income reached record highs, and investment income remained near peak levels. At the mid-year renewals, our partnership approach and ability to provide lead quotes and increased capacity to our customers enabled us to grow into attractive property catastrophe opportunities at rates and terms that outperformed the broader market. Our performance this quarter reflects the continuing strength of our business and the powerful execution of our team. As we look forward, the strength of our earnings base combined with persistent favorable underwriting and investment environments position us to continue delivering substantial value for our shareholders.”