- RenaissanceRe Holdings Ltd. (RNR, Financial) reported $161.1 million of net income available to common shareholders in Q1 2025, with a $69.8 million operating loss.
- The California Wildfires had a significant impact, resulting in a net negative effect of $702.8 million after tax.
- Overall investment results were strong, with $738.3 million total investment result, including $405.4 million in net investment income.
RenaissanceRe Holdings Ltd. (RNR) announced its financial results for the first quarter of 2025, reporting $161.1 million in net income available to common shareholders and an earnings per diluted share of $3.27. Despite the substantial occurrence of the California Wildfires and other large loss events, they incurred an operating loss of $69.8 million.
The impact of the 2025 Large Loss Events, including the California Wildfires, was profound, leading to a net negative financial effect of $702.8 million after tax. This significantly influenced the combined ratio, which stood at 128.3%, and an adjusted combined ratio of 126.4%.
RenaissanceRe's investment performance was robust, achieving a total investment result of $738.3 million, highlighted by $405.4 million in net investment income and $332.9 million in mark-to-market gains. The company's annualized return on average common equity was 6.6%.
In strategic moves, the company repurchased approximately 1.5 million common shares at an aggregate cost of $361.1 million, with an average repurchase price of $242.08 per share, demonstrating a continued commitment to shareholder value.
The launch of Medici UCITS in March 2025, aimed at providing European and global investors access to the company's catastrophe bond investment strategy, signals RenaissanceRe's strategic growth in managing risks effectively through diversified capital avenues.
