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Renaissancere (RNR)
NYSE:RNR
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
10.96Last Year’s EPS
-1.49Same Quarter Last Year
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights substantial financial strength and execution: strong operating income, very large tangible book value growth, robust returns from investments and fees, active capital return via repurchases, and diversified portfolio positioning. Key challenges include a material wildfire-related underwriting loss, continued pricing pressure in Property CAT and tight underwriting margins in Casualty & Specialty (adjusted combined ratio above 100% in 2025). Management emphasizes strategic mitigants (selective deployment, ceded reinsurance, capital partners, tax credits, and technology/integration investments) and expects the three drivers of profit to remain robust in 2026. On balance, the positive operational and capital outcomes outweigh the notable event-driven and market-pressure headwinds.Company Guidance
Strong Overall Financial Performance
Operating income of $1.9 billion for 2025; operating ROE of 18% for the year and 22% in Q4; operating EPS in Q4 of $13.34.
Exceptional Tangible Book Value Growth
Tangible book value per share plus accumulated dividends grew ~30% (Bob cited 31%) in 2025 and has more than doubled over the last 3 years.
Disciplined Capital Return and Share Repurchases
Repurchased $650 million of shares in Q4; repurchased 13% of shares during 2025 and 17% since Q1 2024; returned approximately $1.6 billion to shareholders in 2025 (over 6.4 million shares repurchased at prices near book value).
Three Diversified Drivers of Profit Performing Well
Underwriting income of $1.3 billion for 2025 (including large wildfire loss), fee income of $329 million (management fees $207M; performance fees $121M), and retained net investment income of $1.2 billion (up 4% year-over-year).
Quarterly Underwriting Strength
In Q4, underwriting income was $669 million with a combined ratio of 71%; fees of $102 million and retained investment income of $314 million — both among the highest reported.
Investment Gains and Portfolio Positioning
Retained mark-to-market gains of $1.1 billion for the year, including ~ $400 million attributable to a gold position (gold doubled in price since the position was initiated); retained yield-to-maturity of 4.8% and reduced portfolio duration to 3.0 years (from 3.4 years).
Property Cat Growth Opportunities and Portfolio Resilience
Gross premiums written in Property Cat grew ~5% in 2025; management highlights that modeled margins remain well above cost of capital and the company selectively deployed additional capacity into attractive opportunities.
Capital Partners Momentum
Capital Partners fees increased year-over-year (total fees $329M), with performance fees recovering after the wildfire-impacted quarter and strong third-party engagement expected to keep fees a key driver.
Expense and Tax Management Benefits
Operating expense ratio for 2025 was 4.7% (reduced by Bermuda substance-based tax credits); recognized ~ $70 million cash benefit from Bermuda deferred tax asset; Bermuda tax credits reduced annual operating expense ratio by ~60 basis points and corporate expenses by ~15% in 2025.
RNR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RNR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | $285.95 | $300.37 | +5.04% |
Oct 28, 2025 | $231.25 | $247.20 | +6.90% |
Jul 23, 2025 | $236.52 | $238.26 | +0.74% |
Apr 23, 2025 | $238.83 | $226.87 | -5.01% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Renaissancere (RNR) report earnings?
Renaissancere (RNR) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is Renaissancere (RNR) earnings time?
Renaissancere (RNR) earnings time is at May 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RNR EPS forecast?
RNR EPS forecast for the fiscal quarter 2026 (Q1) is 10.96.