RenaissanceRe Holdings reported a net loss attributable to common shareholders of $161.4m, or $4.02 a diluted share, for the third quarter of 2026. On its operating measure the reinsurer earned $512.6m, or $12.71 a share, which it says equals an 18.9% annualised operating return on average common equity.
Investments explain the gap. Net realised and unrealised losses were $879.8m, including $899.6m on fixed maturity-related investments, which the company mainly attributes to rising market yields. Net investment income for the quarter was $440.9m.
Underwriting income was $426.1m and the consolidated combined ratio 79.7%. The property segment ran at 32.4%, but casualty and specialty reached 110.6%; the company says the 2026 large-loss events added 10.5 points to that segment's ratio. RenaissanceRe estimates the combined net negative effect of three events on its underwriting result at $191.4m, or 9.3 points on the group combined ratio: the Middle East war at $69.7m, the Ras Laffan explosion at $65.2m and the Colombian earthquake at $56.6m. It says meaningful uncertainty remains about these estimates and that actual losses may differ, "perhaps materially".
Gross premiums written fell to $2,104.0m from $2,323.6m. Property premiums dropped 14.3% to $628.8m, which the company attributes to rate reductions in both catastrophe and other property classes, and it notes that the third quarter is not usually a major renewal period. Casualty and specialty premiums fell 7.2% to $1,475.3m, mainly because of exposure reductions in general casualty and professional liability. Book value per common share fell 1.9% in the quarter to $259.61. The company bought back $310.1m of shares in the quarter and a further $143.8m between 1 and 23 October.
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RenaissanceRe Holdings Ltd. (SEC Form 8-K) ↗Company · 27 Oct 2026
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