Renaissancere Holdings Ltd (RNR)
NYSE:RNR
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Renaissancere Holdings
(NYSE:RNR)
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Rating:80Outperform
Price Target:
$332.00
▲(9.56% Upside)
Action:ReiteratedDate:02/12/26
The score is driven primarily by strong financial performance with conservative leverage and an attractively low P/E valuation. Technicals are supportive with an established uptrend. The latest earnings call adds confidence via strong capital returns and profitability, but ongoing rate pressure and catastrophe-driven volatility keep the score from the high end.
Positive Factors
Robust profitability and ROE
Sustained high operating income and double-digit ROE through 2023–2025 indicate durable underwriting and investment discipline. Strong returns provide internal capital for growth, underwriting capacity and shareholder distributions, improving resilience across multi-year cycles.
Negative Factors
Catastrophe-driven earnings volatility
Large CAT losses show inherent volatility in reinsurance results; sizable event-driven hits can materially swing annual earnings and capital metrics. This cyclicality constrains predictability of underwriting income and can force capital reallocation or increased reinsurance purchases.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust profitability and ROE
Sustained high operating income and double-digit ROE through 2023–2025 indicate durable underwriting and investment discipline. Strong returns provide internal capital for growth, underwriting capacity and shareholder distributions, improving resilience across multi-year cycles.
Read all positive factors
Renaissancere Holdings (RNR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.18B
Dividend Yield0.57%
Average Volume (3M)315.72K
Price to Earnings (P/E)4.7
Beta (1Y)0.20
Revenue Growth-3.96%
EPS Growth-48.08%
CountryUS
Employees945
SectorFinancial
Sector Strength70
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)13.34
Shares Outstanding43,488,907
10 Day Avg. Volume212,685
30 Day Avg. Volume315,724
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.09
Price to Sales (P/S)0.99
P/FCF Ratio3.42
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue1.08
Enterprise Value/Gross Profit2.66
Enterprise Value/Ebitda3.33
Forecast
1Y Price Target
$327.18Price Target Upside7.97% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)38.23
Revenue Forecast (FY)$10.03B
Renaissancere Holdings Business Overview & Revenue Model
Company Description
RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess o...
How the Company Makes Money
RenaissanceRe generates revenue primarily through its reinsurance and insurance operations. In the Reinsurance segment, the company earns income by underwriting various types of insurance risks, with premiums collected from insurers and other enti...
Renaissancere Holdings Key Performance Indicators (KPIs)
Renaissancere Holdings Earnings Call Summary
Earnings Call Date:Feb 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
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.Positive Updates
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.
Negative Updates
Large California Wildfire Impact
Underwriting included a $1.1 billion underwriting loss from the California wildfires in 2025; the company noted a $786 million net negative impact from margin effects over the year but still delivered $1.9B operating income.
Read all updates
Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
The company guided that Property CAT rates were down low‑teens at the Jan 1 renewal, with Property CAT gross premiums written having grown 5% in 2025 but top‑line Property CAT expected to be down only mid‑single digits in 2026 (ex‑reinstatements) and ceded rates down high‑teens; Q1 targets include Other Property net premiums earned ≈ $360M with attritional loss ratio in the mid‑50s and Casualty & Specialty net premiums earned ≈ $1.4B with an adjusted combined ratio in the high‑90s (absent large losses). They expect management fees ≈ $50M and performance fees ≈ $30M in Q1, retained net investment income to be at similar levels (2025 retained NII = $1.2B, up 4%), and an operating expense ratio that was 4.7% in 2025 but is expected to average 5.0–5.5% in 2026 after Bermuda substance‑based tax credits (2025 credits reduced operating expenses by ~60 bps, recognized at 50% in 2025, 75% in 2026, 100% in 2027). Key 2025 metrics and capital actions referenced to frame the guidance: operating income $1.9B, operating ROE 18% (Q4 operating EPS $13.34 and Q4 operating ROE 22%), tangible book value per share + accumulated dividends up ~30% (31%) in 2025, underwriting income $1.3B (including $1.1B wildfire loss), adjusted underwriting combined ratio 85% for the year, GWP $11.7B / NPW $9.9B, fee income $329M (management $207M, performance $121M), retained MTM gains $1.1B (including >$400M from gold), retained YTM 4.8% and duration ~3 years, and $1.6B returned to shareholders in 2025 (repurchased >6.4M shares, $650M repurchased in Q4).Renaissancere Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.75B | 11.65B | 9.09B | 5.05B | 5.27B |
| Gross Profit | 5.18B | 3.67B | 3.64B | -858.28M | 174.46M |
| EBITDA | 4.14B | 3.35B | 3.05B | -1.20B | -87.56M |
| Net Income | 2.68B | 1.87B | 2.56B | -1.06B | -40.16M |
Balance Sheet | |||||
| Total Assets | 53.80B | 50.71B | 49.01B | 36.55B | 33.96B |
| Cash, Cash Equivalents and Short-Term Investments | 32.96B | 6.21B | 6.48B | 5.86B | 7.16B |
| Total Debt | 2.33B | 1.89B | 1.96B | 1.17B | 1.17B |
| Total Liabilities | 34.59B | 33.16B | 33.45B | 26.69B | 23.78B |
| Stockholders Equity | 11.61B | 10.57B | 9.45B | 5.33B | 6.62B |
Cash Flow | |||||
| Free Cash Flow | 3.69B | 4.16B | 1.91B | 1.12B | 2.05B |
| Operating Cash Flow | 3.69B | 4.16B | 1.91B | 1.60B | 1.23B |
| Investing Cash Flow | -2.22B | -3.06B | -3.82B | -3.02B | -816.30M |
| Financing Cash Flow | -1.41B | -1.29B | 2.59B | 725.34M | -302.46M |
Renaissancere Holdings Technical Analysis
Positive
303.03
Price Trends
296.87
Positive
283.58
Positive
264.66
Positive
Market Momentum
2.73
Negative
67.66
Neutral
85.93
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RNR, the sentiment is Positive. The current price of 303.03 is above the 20-day moving average (MA) of 296.53, above the 50-day MA of 296.87, and above the 200-day MA of 264.66, indicating a bullish trend. The MACD of 2.73 indicates Negative momentum. The RSI at 67.66 is Neutral, neither overbought nor oversold. The STOCH value of 85.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RNR.
Renaissancere Holdings Risk Analysis
Renaissancere Holdings disclosed 35 risk factors in its most recent earnings report. Renaissancere Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Renaissancere Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.06B | 4.91 | 22.09% | ― | 22.79% | -5.17% | |
80 Outperform | $13.18B | 4.70 | 24.24% | 0.57% | -3.96% | -48.08% | |
75 Outperform | $627.68M | 6.59 | 11.10% | ― | 5.83% | -101.38% | |
75 Outperform | $2.67B | 5.55 | 20.87% | ― | 7.87% | -4.68% | |
73 Outperform | $13.69B | 11.38 | 9.48% | 1.76% | 2.10% | 19.23% | |
72 Outperform | $13.32B | 8.83 | 10.61% | 2.37% | 8.62% | -78.92% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
RNR
Renaissancere Holdings
303.03
66.47
28.10%
EG
Everest Group
329.87
-11.29
-3.31%
GLRE
Greenlight Capital Re
18.47
5.37
40.99%
RGA
Reinsurance Group
205.05
30.17
17.25%
SPNT
SiriusPoint
22.83
6.79
42.33%
HG
Hamilton Insurance Group, Ltd. Class B
30.87
14.55
89.20%
Renaissancere Holdings Corporate Events
Business Operations and StrategyPrivate Placements and Financing
RenaissanceRe Extends Secured Letter of Credit Facility
Positive
Dec 22, 2025
On December 22, 2025, Citibank Europe and several RenaissanceRe group companies executed an amendment to their secured letter of credit facility, extending the facility’s availability end date to December 31, 2026 and its expiry date to Dece...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.