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Renaissancere Holdings
(NYSE:RNR)
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Rating:79Outperform
Price Target:
$363.00
▲(10.30% Upside)
Action:Reiterated
Date:07/24/26
The score is driven primarily by strong recent financial performance (high profitability/ROE and conservative leverage) and attractive valuation (low P/E). The latest earnings call reinforced strength in underwriting results, investment income, and capital returns, but notable offsets include premium declines, competitive rate pressure, and weaker Casualty & Specialty underwriting. Technicals are supportive but more neutral than strongly bullish.
Positive Factors
Strong recent profitability and ROE
Sustained high operating returns and ROE imply durable internal capital generation and underwriting competence. Over a 2–6 month horizon this supports continued capital returns, reinvestment in underwriting capacity, and cushions the balance sheet against cyclical loss shocks, underpinning long-term earnings power.
Negative Factors
Declining gross premiums written
A sustained decline in top-line ceded business reduces scale and underwriting leverage, limiting fee income and opportunities to deploy capital profitably. Over months this can compress growth prospects, force higher reliance on retained investment returns, and make fixed expense absorption harder if the trend persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong recent profitability and ROE
Sustained high operating returns and ROE imply durable internal capital generation and underwriting competence. Over a 2–6 month horizon this supports continued capital returns, reinvestment in underwriting capacity, and cushions the balance sheet against cyclical loss shocks, underpinning long-term earnings power.
Read all positive factors
Renaissancere Holdings Key Performance Indicators (KPIs)
Any
Net Premiums Written by Segment
Captures the premiums Renaissancere retains after ceding reinsurance, showing actual retained exposure and growth in each business line. This metric is key to understanding the company’s risk appetite and the base of premiums available to fund claims and generate underwriting income.
Captures the premiums Renaissancere retains after ceding reinsurance, showing actual retained exposure and growth in each business line. This metric is key to understanding the company’s risk appetite and the base of premiums available to fund claims and generate underwriting income.
Data provided by:
The Fly
The FlyRenaissancere Holdings (RNR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.23B
Dividend Yield0.51%
Average Volume (3M)357.32K
Price to Earnings (P/E)5.5
Beta (1Y)0.20
Revenue Growth-14.15%
EPS Growth48.57%
CountryUS
Employees1,040
SectorFinancial
Sector Strength70
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)58.63
Shares Outstanding41,551,890
10 Day Avg. Volume367,375
30 Day Avg. Volume357,324
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$347.79Price Target Upside5.68% Upside
Rating ConsensusHold
Number of Analyst Covering14
EPS Forecast (FY)42.92
Revenue Forecast (FY)$8.34B
Renaissancere Holdings Business Overview & Revenue Model
Company Description
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment wri...
How the Company Makes Money
RenaissanceRe makes money primarily by underwriting reinsurance and insurance policies and investing the funds it holds to pay future claims. Its core revenue and earnings drivers include: (1) Underwriting income: The company collects premiums fro...
Renaissancere Holdings Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call emphasized strong earnings, meaningful tangible book value growth, record investment income, disciplined capital returns (including large buybacks) and effective portfolio shaping via retrocession and capital partners. Key negatives were a double‑digit decline in gross premiums written, above‑100% combined ratio in Casualty & Specialty due to a reserve shift and persistent rate pressure in the property catastrophe market. Management framed the negatives as manageable and part of active portfolio management while highlighting robust capital position and confidence heading into the rest of 2026.Positive Updates
Strong Operating Earnings and ROE
Reported operating income of $548 million and operating earnings per share of $12.92; annualized operating return on equity ~20% (20.0–20.1%) and annualized return on common equity 24%.
Negative Updates
Top-Line Declines in Gross Premiums Written
Gross premiums written totaled ~$3.0 billion, down ~12% year-over-year. Property catastrophe top line declined ~14% (ex-reinstatements) and casualty & specialty were down ~15%; credit down ~19% driven by timing of large deals.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Operating Earnings and ROE
Reported operating income of $548 million and operating earnings per share of $12.92; annualized operating return on equity ~20% (20.0–20.1%) and annualized return on common equity 24%.
Read all positive updates
Company Guidance
Management's guidance and outlook included explicit Q3 targets and many key metrics: other property net premiums earned of about $330 million with an attritional loss ratio in the mid‑50s, and Casualty & Specialty net premiums earned of roughly $1.3 billion with an adjusted combined ratio in the high‑90s; retained net investment income (Q2: $314 million) is expected to trend modestly higher and retained portfolio duration rose modestly to 3.5 years (from 3.4), while management fees are expected near $50 million in Q3 (Q2 fees were $83M: $48M management, $35M performance) and performance fees typically average ~$30M/quarter but are variable. Q2 results that frame the guidance included operating income of $548 million, operating EPS $12.92, annualized operating ROE ~20% (20.1%), annualized ROCE 24%, underwriting income ~$600 million, an overall adjusted combined ratio of 72% (property cat adjusted combined ratio 9% with a 12% current accident‑year loss ratio and ~25 points of favorable development; other property adjusted combined ratio 52% with ~35 points favorable development; casualty & specialty current accident‑year loss ratio 68% and adjusted combined ratio 102% with 4.4 points adverse prior‑year development including ~4.1 points from the Baltimore bridge), gross premiums written $3.0 billion (down 12%), ceded/partner sharing ~35% of C&S gross premium written versus 25% a year ago, retained mark‑to‑market gains $154 million, tangible book value per share up ~6% in the quarter and 27% year‑over‑year (66% since Q2 2024), operating expense ratio 4.3% (expected to build toward ~5%/5–5.5%), effective GAAP tax rate 12% (tax rate on shareholder‑applicable income ~17%), and continued capital return with $350 million of repurchases in Q2 plus ~$83 million repurchased through July 20 (about $3 billion repurchased since Q2 2024 at an average $258/share).Renaissancere Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.66B | 12.75B | 11.65B | 9.09B | 5.05B | 5.27B |
| Gross Profit | 6.24B | 5.18B | 3.67B | 3.64B | -858.28M | 174.46M |
| EBITDA | 4.21B | 4.14B | 3.35B | 3.05B | -1.20B | -87.56M |
| Net Income | 2.63B | 2.68B | 1.87B | 2.56B | -1.06B | -40.16M |
Balance Sheet | ||||||
| Total Assets | 55.20B | 53.80B | 50.71B | 49.01B | 36.55B | 33.95B |
| Cash, Cash Equivalents and Short-Term Investments | 5.25B | 32.96B | 29.77B | 27.36B | 5.86B | 21.21B |
| Total Debt | 2.33B | 2.33B | 1.89B | 1.96B | 1.17B | 4.72B |
| Total Liabilities | 36.03B | 34.59B | 33.16B | 33.45B | 26.69B | 23.78B |
| Stockholders Equity | 11.82B | 11.61B | 10.57B | 9.45B | 5.33B | 6.62B |
Cash Flow | ||||||
| Free Cash Flow | 3.61B | 3.69B | 4.16B | 1.91B | 1.12B | 1.23B |
| Operating Cash Flow | 3.61B | 3.69B | 4.16B | 1.91B | 1.60B | 1.23B |
| Investing Cash Flow | -1.18B | -2.22B | -3.06B | -3.82B | -3.02B | -222.02M |
| Financing Cash Flow | -2.53B | -1.41B | -1.29B | 2.59B | 725.34M | -896.74M |
Renaissancere Holdings Technical Analysis
Neutral
329.10
Price Trends
306.80
Positive
303.54
Positive
288.54
Positive
Market Momentum
4.75
Positive
61.64
Neutral
79.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RNR, the sentiment is Neutral. The current price of 329.1 is above the 20-day moving average (MA) of 321.56, above the 50-day MA of 306.80, and above the 200-day MA of 288.54, indicating a neutral trend. The MACD of 4.75 indicates Positive momentum. The RSI at 61.64 is Neutral, neither overbought nor oversold. The STOCH value of 79.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $13.23B | 5.46 | 22.68% | 0.49% | -14.15% | 48.57% | |
78 Outperform | $14.85B | 7.97 | 12.43% | 2.08% | -5.12% | 146.11% | |
77 Outperform | $3.54B | 5.73 | 23.38% | ― | 20.32% | 98.92% | |
75 Outperform | $15.60B | 12.68 | 9.47% | 1.56% | 18.66% | 55.67% | |
74 Outperform | $2.75B | 5.70 | 23.21% | ― | 22.55% | 371.77% | |
72 Outperform | $552.22M | 6.94 | 11.68% | ― | 0.10% | 77.35% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
RNR
Renaissancere Holdings
319.98
79.56
33.09%
EG
Everest Group
374.15
50.79
15.71%
GLRE
Greenlight Capital Re
16.65
3.89
30.49%
RGA
Reinsurance Group
236.85
62.01
35.47%
SPNT
SiriusPoint
23.65
4.07
20.79%
HG
Hamilton Insurance Group, Ltd. Class B
35.96
16.20
81.95%
Renaissancere Holdings Corporate Events
Business Operations and StrategyExecutive/Board Changes
RenaissanceRe Announces CFO and Portfolio Leadership Succession
Positive
May 14, 2026
On May 11, 2026, RenaissanceRe announced that Chief Financial Officer Robert “Bob” Qutub and Chief Portfolio Officer Ross Curtis intend to retire effective December 31, 2026, with Senior Financial Officer and Corporate Treasurer Matthe...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
RenaissanceRe Shareholders Approve New 2026 Long-Term Incentive Plan
Positive
May 6, 2026
At its Annual General Meeting held on May 5, 2026 in Pembroke, Bermuda, RenaissanceRe shareholders approved a new 2026 Long-Term Incentive Plan, replacing the prior 2016 plan and authorizing 1,250,000 new common shares plus any remaining shares un...
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.