Financial Stock Highlights: RenaissanceRe Holdings Ltd. (RNR)

On Monday, RenaissanceRe Holdings Ltd. (RNR) negotiated 305,933 shares against it an average volume of 267,165 shares. The stock concluded the recent trade at $124.34 with upbeat trend move of +2.49 percent. The company has total market value of 5.004B billion. The company has got a 52-week exceptional price of $152.00 and reached a 52-week lowest of the share price at $116.50. The daily trading range was observed between a day’s low price of $121.58 to a day’s high price of $124.54.

RenaissanceRe Holdings Ltd. (RNR) recently revealed net income accessible to RenaissanceRe ordinary shareholders of $56.7M, or $1.42 per diluted ordinary share, in the 1st quarter of 2018, contrast to $92.4M, or $2.25 per diluted ordinary share, in the 1st quarter of 2017. Operating income accessible to RenaissanceRe ordinary shareholders was $135.2M, or $3.40 per diluted ordinary share, in the 1st quarter of 2018, contrast to $53.7M, or $1.30 per diluted ordinary share, in the 1st quarter of 2017. The Company declared an annualized return on average ordinary equity of 5.7 percent and an annualized operating return on average ordinary equity of 13.5 percent in the first quarter of 2018, contrast to 8.3 percent and 4.8 percent, respectively, in the first quarter of 2017. Book value per ordinary share raised $0.57, or 0.6 percent, to $100.29, in the 1st quarter of 2018, contrast to a 0.8 percent raise in the 1st quarter of 2017. Tangible book value per ordinary share plus accumulated dividends raised $0.73, or 0.8 percent, to $111.96 in the 1st quarter of 2018, contrast to a 1.2 percent raise in the 1st quarter of 2017.

More on Fast News Media ::

1st QUARTER 2018 SUMMARY

  • Gross premiums written raised by $237.6M, or 25.8 percent, to $1.2B, in the 1st quarter of 2018, contrast to the 1st quarter of 2017, driven by raises of $186.4M in the Property section and $51.1M in the Casualty and Specialty section.
  • Underwriting income of $129.6M and a combined ratio of 70.6 percent in the 1st quarter of 2018. The Property section generated underwriting income of $127.2M and a combined ratio of 43.5 percent. The Casualty and Specialty section generated underwriting income of $2.6M and a combined ratio of 98.8 percent.
  • The Company’s portfolio of fixed maturity and short term investments had a yield to maturity of 2.9 percent at March 31, 2018.

Underwriting Results by Section

Property Section

Gross premiums written in the Property section were $707.0M in the 1st quarter of 2018, a raise of $186.4M, or 35.8 percent, contrast to $520.5M in the 1st quarter of 2017.

Gross premiums written in the catastrophe class of business were $590.3M in the 1st quarter of 2018, a raise of $175.9M, or 42.4 percent, contrast to the 1st quarter of 2017. The raise in gross premiums written in the catastrophe class of business was driven primarily by an improved rate environment combined with expanded participation on existing transactions and certain new transactions in the catastrophe excess of loss market. Gross premiums written in the other property class of business were $116.6M in the first quarter of 2018, a raise of $10.5M, or 9.9 percent, contrast to the 1st quarter of 2017. The raise in gross premiums written in the other property class of business was primarily driven by growth across a number of the Company’s underwriting platforms, both from existing relationships and through new opportunities.

Ceded premiums written in the Property section were $352.9M in the 1st quarter of 2018, a raise of $122.2M, or 53.0 percent, contrast to $230.7M in the 1st quarter of 2017. The raise in ceded premiums written was principally Because of an important portion of the raise in gross premiums written in the catastrophe class of business noted above being subsequently ceded to third-party investors in the Company’s managed joint venture, Upsilon RFO.

The Property section generated underwriting income of $127.2M and a combined ratio of 43.5 percent in the 1st quarter of 2018, contrast to $91.4M and 51.1 percent, respectively, in the 1st quarter of 2017. Principally impacting the Property section underwriting result and combined ratio was favorable development on previous accident years net claims and claim expenses of $27.6M, or 12.2 percentage points, during the first quarter of 2018, contrast to $0.9M, or 0.5 percentage points, in the 1st quarter of 2017, combined with an raise in net premiums earned driven by the growth in net premiums written over the trailing twelve months. The favorable development during the 1st quarter of 2018 included $27.1M of net decreases in the estimated ultimate losses associated with Hurricanes Harvey, Irma and Maria, the Mexico City Earthquake and the wildfires in California during the 4th quarter of 2017, and was principally within the other property class of business.

(RNR) is recorded at 2.09 and the relative strength index of the stock stands 55.01. The stock price is going above to its 52 week low with 6.73 percent and lagging behind from its 52 week high with -18.20 percent. Analyst recommendation for this stock stands at 2.80.

Latest on Fast News Media :

Jason Garcia – Financial

Jason Garcia gives us an insight into the most recent news hitting the “Financial” Sector in Wall Street. He has been an independent financial adviser for over eleven years in the New York City and in recent years turned her experience in finance and passion for journalism into a full time role. He performs analysis of Companies and publicizes valuable information for shareholder community.

Address: 3170 Cunningham Court Southfield, MI 48075

Phone: (+1) 248-708-3623

Email:  Jason@fastnewsmedia.com

Related Posts :