NYSE : RNR
RenaissanceRe Holdings Ltd. — Financial statements
Financials · Insurance - Reinsurance · Bermuda
Last price 344.78 USD (Nov 2, 2026, 10:54 AM EST) · Market cap 13.93B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 8.82B | 9.90B | 10.10B | 7.47B | 6.33B | 5.19B |
| Total Interest & Dividend Income | 1.74B | 1.70B | 1.65B | 1.25B | 559.93M | 319.48M |
| Gain (Loss) on Sale of Investments | -993.41M | 1.18B | -27.84M | 414.52M | -1.80B | -218.13M |
| Other Revenue | 93.29M | 75.65M | 49.02M | 37.32M | 23.89M | 23.19M |
| Total Revenue | 9.66B | 12.86B | 11.77B | 9.18B | 5.12B | 5.32B |
| Policy Benefits | 3.90B | 5.62B | 5.33B | 3.57B | 4.34B | 3.88B |
| Policy Acquisition & Underwriting Costs | 2.23B | 2.55B | 2.64B | 1.88B | 1.57B | 1.21B |
| Selling, General & Administrative | 469.69M | 546.49M | 631.37M | 426.42M | 323.47M | 253.34M |
| Total Operating Expenses | 6.60B | 8.71B | 8.61B | 5.87B | 6.23B | 5.34B |
| Operating Income | 3.06B | 4.15B | 3.16B | 3.30B | -1.11B | -25.57M |
| Interest Expense | -126.75M | -120.85M | -93.77M | -73.18M | -48.34M | -47.54M |
| Currency Exchange Gain (Loss) | -31.25M | -13.50M | -76.08M | -41.48M | -56.91M | -41.01M |
| EBT Excluding Unusual Items | 2.90B | 4.01B | 2.99B | 3.19B | -1.22B | -114.11M |
| Merger & Restructuring Charges | -76.40M | |||||
| Pretax Income | 2.90B | 4.01B | 2.99B | 3.11B | -1.22B | -114.11M |
| Income Tax Expense | 258.36M | 396.33M | 32.63M | -510.07M | -59.02M | -10.67M |
| Earnings From Continuing Ops. | 2.64B | 3.62B | 2.96B | 3.62B | -1.16B | -103.44M |
| Minority Interest in Earnings | -1.08B | -935.41M | -1.09B | -1.06B | 98.61M | 63.28M |
| Net Income | 1.56B | 2.68B | 1.87B | 2.56B | -1.06B | -40.16M |
| Preferred Dividends & Other Adjustments | 61.31M | 77.80M | 62.85M | 72.68M | 36.45M | 33.99M |
| Net Income to Common | 1.50B | 2.60B | 1.81B | 2.49B | -1.10B | -74.15M |
| Shares Outstanding (Basic) | 42.01M | 46.32M | 51.19M | 47.49M | 43.04M | 47.17M |
| Shares Outstanding (Diluted) | 42.19M | 46.48M | 51.34M | 47.61M | 43.04M | 47.17M |
| EPS (Basic) | 35.78 | 56.23 | 35.31 | 52.40 | -25.50 | -1.57 |
| EPS (Diluted) | 35.63 | 56.03 | 35.21 | 52.27 | -25.50 | -1.57 |
| Dividend Per Share | 1.63 | 1.60 | 1.56 | 1.52 | 1.48 | 1.44 |
| Operating Margin | 31.64% | 32.25% | 26.87% | 35.98% | -21.76% | -0.48% |
| Profit Margin | 15.56% | 20.25% | 15.35% | 27.12% | -21.45% | -1.39% |
| EBITDA | 4.15B | 3.42B | -8.91M | |||
| EBITDA Margin | 32.28% | 29.07% | -0.17% | |||
| D&A For EBITDA | 3.25M | 258.46M | 16.65M | |||
| EBIT | 3.06B | 4.15B | 3.16B | 3.30B | -1.11B | -25.57M |
| EBIT Margin | 31.64% | 32.25% | 26.87% | 35.98% | -21.76% | -0.48% |
| Effective Tax Rate | 8.91% | 9.87% | 1.09% | |||
| Revenue as Reported | 9.63B | 12.85B | 11.70B | 9.13B | 5.06B | 5.28B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 1.63B | 1.61B | 1.98B | 1.94B | 1.24B | 1.10B |
| Investments in Equity & Preferred Securities | 2.09B | 2.04B | 432.39M | 279.30M | 146.53M | 186.44M |
| Other Investments | 7.28B | 7.54B | 6.66B | 6.02B | 5.76B | 6.02B |
| Total Investments | 36.20B | 36.08B | 32.64B | 29.13B | 22.12B | 21.37B |
| Cash & Equivalents | 1.10B | 1.73B | 1.68B | 1.88B | 1.19B | 1.86B |
| Reinsurance Recoverable | 3.83B | 3.90B | 4.48B | 5.35B | 4.71B | 4.27B |
| Other Receivables | 8.81B | 7.90B | 7.62B | 8.21B | 5.71B | 4.29B |
| Deferred Policy Acquisition Cost | 1.69B | 1.54B | 1.55B | 1.75B | 1.17B | 849.16M |
| Property, Plant & Equipment | 112.70M | 99.90M | 89.50M | 83.70M | 50.90M | |
| Goodwill | 300.53M | 300.51M | 300.54M | 210.89M | 210.92M | |
| Other Intangible Assets | 587.11M | 332.55M | 403.62M | 474.81M | 26.93M | 32.58M |
| Other Current Assets | 1.46B | 1.00B | 918.67M | 956.34M | 1.07B | 874.96M |
| Long-Term Deferred Tax Assets | 728.23M | 701.93M | 701.05M | 685.04M | 123.15M | 60.92M |
| Other Long-Term Assets | 434.34M | 197.04M | 307.60M | 187.54M | 128.87M | 84.83M |
| Total Assets | 54.83B | 53.80B | 50.71B | 49.01B | 36.55B | 33.96B |
| Accounts Payable | 1.41B | 533.10M | 150.72M | 661.61M | 493.78M | 1.17B |
| Insurance & Annuity Liabilities | 2.40M | 2.70M | 5.30M | 10.80M | ||
| Unpaid Claims | 22.29B | 22.30B | 21.30B | 20.49B | 15.89B | 13.29B |
| Unearned Premiums | 6.62B | 6.03B | 5.95B | 6.14B | 4.56B | 3.53B |
| Reinsurance Payable | 2.73B | 2.54B | 2.80B | 3.19B | 3.93B | 3.86B |
| Current Portion of Long-Term Debt | 2.88M | 8.24M | 455.98M | 5.77M | 1.69M | 1.43M |
| Current Portion of Leases | 20.28M | |||||
| Short-Term Debt | 75.00M | 30.00M | 30.00M | |||
| Long-Term Debt | 2.33B | 2.33B | 1.44B | 1.88B | 1.14B | 1.14B |
| Long-Term Leases | 127.52M | 135.30M | 125.40M | 89.10M | 45.60M | |
| Other Current Liabilities | 31.07M | 32.96M | 69.70M | 24.22M | 5.80M | 15.53M |
| Other Long-Term Liabilities | 628.68M | 667.30M | 846.55M | 863.78M | 546.15M | 682.09M |
| Total Liabilities | 36.04B | 34.59B | 33.16B | 33.45B | 26.69B | 23.78B |
| Preferred Stock, Redeemable | 750.00M | 750.00M | 750.00M | 750.00M | 750.00M | 750.00M |
| Common Stock | 40.84M | 43.96M | 50.18M | 52.69M | 43.72M | 44.45M |
| Additional Paid-In Capital | 1.51B | 2.14B | 475.65M | 608.12M | ||
| Retained Earnings | 10.58B | 10.83B | 8.28B | 6.52B | 4.07B | 5.23B |
| Comprehensive Income & Other | -13.35M | -12.63M | -14.76M | -14.21M | -15.46M | -10.91M |
| Total Common Equity | 10.60B | 10.86B | 9.82B | 8.70B | 4.58B | 5.87B |
| Minority Interest | 7.43B | 7.60B | 6.98B | 6.10B | 4.54B | 3.55B |
| Shareholders' Equity | 18.79B | 19.21B | 17.55B | 15.56B | 9.86B | 10.18B |
| Total Liabilities & Equity | 54.83B | 53.80B | 50.71B | 49.01B | 36.55B | 33.96B |
| Filing Date Shares Outstanding | 40.41M | 43.49M | 49.25M | 52.69M | 43.72M | 43.98M |
| Total Common Shares Outstanding | 40.84M | 43.96M | 50.18M | 52.69M | 43.72M | 44.44M |
| Total Debt | 2.33B | 2.49B | 2.03B | 2.09B | 1.26B | 1.22B |
| Net Cash (Debt) | -1.24B | -754.06M | -351.56M | -212.31M | -66.89M | 643.64M |
| Net Cash Per Share | -29.30 | -16.22 | -6.85 | -4.46 | -1.55 | 13.64 |
| Book Value Per Share | 259.60 | 247.00 | 195.77 | 165.20 | 104.65 | 132.17 |
| Tangible Book Value | 10.02B | 10.23B | 9.12B | 7.93B | 4.34B | 5.63B |
| Tangible Book Value Per Share | 245.23 | 232.60 | 181.74 | 150.48 | 99.21 | 126.69 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.56B | 2.68B | 1.87B | 2.56B | -1.06B | -40.16M |
| Depreciation & Amortization | -89.55M | -14.12M | 258.46M | -134.75M | -26.95M | -20.99M |
| Gain (Loss) on Sale of Investments | 494.75M | -1.18B | -29.44M | -482.79M | 1.64B | 205.90M |
| Change in Accounts Receivable | 596.28M | 37.77M | -9.55M | -126.85M | -1.36B | -886.91M |
| Reinsurance Recoverable | 256.83M | 581.48M | 862.90M | 663.91M | -442.26M | -1.34B |
| Change in Unearned Revenue | -367.17M | 77.76M | -185.72M | -227.00M | 1.03B | 767.61M |
| Change in Insurance Reserves / Liabilities | -418.67M | 998.85M | 816.62M | -34.66M | 2.60B | 2.91B |
| Change in Other Net Operating Assets | -265.95M | -157.18M | -335.26M | -355.89M | -425.86M | -468.36M |
| Other Operating Activities | 1.08B | 935.41M | 1.09B | 1.06B | -98.61M | -63.28M |
| Operating Cash Flow | 2.82B | 3.69B | 4.16B | 1.91B | 1.60B | 1.23B |
| Cash Acquisitions | -2.43B | |||||
| Investment in Securities | -881.48M | -2.78B | -2.98B | -1.31B | -3.02B | -816.30M |
| Other Investing Activities | 137.74M | 564.34M | -80.00M | -74.35M | ||
| Investing Cash Flow | -743.74M | -2.22B | -3.06B | -3.82B | -3.02B | -816.30M |
| Short-Term Debt Issued | 75.00M | 75.00M | 75.00M | 30.00M | ||
| Long-Term Debt Issued | 889.11M | 740.58M | ||||
| Total Debt Issued | 99.21M | 964.11M | 75.00M | 815.58M | 30.00M | |
| Total Debt Repaid | -525.00M | -150.00M | -30.00M | |||
| Net Debt Issued (Repaid) | 99.21M | 439.11M | -75.00M | 785.58M | 30.00M | |
| Issuance of Common Stock | 1.35B | |||||
| Repurchases of Common Stock | -1.70B | -1.62B | -690.50M | -20.52M | -177.57M | -1.04B |
| Issuance of Preferred Stock | 500.00M | |||||
| Repurchases of Preferred Stock | -275.00M | |||||
| Common Dividends Paid | -69.11M | -74.84M | -80.85M | -75.11M | -64.67M | -67.83M |
| Preferred Dividends Paid | -35.38M | -35.38M | -35.38M | -35.38M | -35.40M | -32.89M |
| Total Dividends Paid | -104.48M | -110.22M | -116.22M | -110.49M | -100.07M | -100.72M |
| Other Financing Activities | -939.30M | -116.20M | -405.79M | 582.46M | 1.00B | 582.93M |
| Financing Cash Flow | -2.65B | -1.41B | -1.29B | 2.59B | 725.34M | -302.46M |
| Foreign Exchange Rate Adjustments | -30.42M | -12.22M | -17.36M | 5.54M | 22.47M | 6.15M |
| Net Cash Flow | -603.29M | 54.58M | -200.91M | 683.18M | -664.68M | 122.21M |
| Levered Free Cash Flow | 2.41B | -14.72B | 816.94M | -1.31B | -19.82M | 1.87B |
| Unlevered Free Cash Flow | 2.48B | -14.65B | 875.54M | -1.26B | 10.39M | 1.90B |
| Cash Interest Paid | 111.83M | 111.83M | 88.05M | 73.54M | 46.25M | 21.17M |
| Cash Income Tax Paid | 3.13M | -4.26M | ||||
| Change in Working Capital | -203.41M | 1.29B | 966.24M | -1.08B | 1.14B | 1.14B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 14.18B | 12.96B | 12.92B | 10.29B | 8.05B | 7.79B |
| Enterprise Value | 15.42B | 21.71B | 20.91B | 17.40B | 12.95B | 11.70B |
| PE Ratio | 9.85 | 4.98 | 7.15 | 4.13 | ||
| PS Ratio | 1.47 | 1.01 | 1.10 | 1.12 | 1.57 | 1.47 |
| PB Ratio | 1.35 | 0.68 | 0.74 | 0.66 | 0.82 | 0.77 |
| P/OCF Ratio | 5.03 | 3.51 | 3.10 | 5.38 | 5.02 | 6.31 |
| EV/Sales Ratio | 1.60 | 1.69 | 1.78 | 1.90 | 2.53 | 2.20 |
| EV/EBITDA Ratio | 5.23 | 6.11 | ||||
| EV/EBIT Ratio | 5.04 | 5.23 | 6.61 | 5.27 | ||
| Debt / Equity Ratio | 0.12 | 0.13 | 0.12 | 0.13 | 0.13 | 0.12 |
| Debt / EBITDA Ratio | 0.76 | 0.60 | 0.59 | 0.63 | ||
| Net Debt / Equity Ratio | 0.07 | 0.04 | 0.02 | 0.01 | 0.01 | -0.06 |
| Net Debt / EBITDA Ratio | 0.18 | 0.10 | 72.21 | |||
| Quick Ratio | 1.18 | 2.72 | 1.21 | 1.15 | 1.06 | 1.16 |
| Current Ratio | 1.34 | 3.08 | 1.39 | 1.37 | 1.29 | 1.40 |
| Asset Turnover | 0.18 | 0.25 | 0.24 | 0.21 | 0.14 | 0.16 |
| Return on Equity (ROE) | 13.98% | 19.68% | 17.88% | 28.49% | -11.58% | -0.98% |
| Return on Assets (ROA) | 3.49% | 4.96% | 3.96% | 4.82% | -1.97% | -0.05% |
| Return on Invested Capital (ROIC) | 13.06% | 18.12% | 16.81% | 22.95% | -9.89% | -0.22% |
| Earnings Yield | 10.15% | 20.69% | 14.47% | 24.89% | -13.18% | -0.52% |
| Dividend Yield | 0.47% | 0.54% | 0.61% | 0.78% | 0.80% | 0.82% |
| Payout Ratio | 4.60% | 4.11% | 6.21% | 4.31% | ||
| Buyback Yield / Dilution | 12.29% | 9.46% | -7.84% | -10.61% | 8.76% | 0.01% |
| Total Shareholder Return | 12.76% | 10.00% | -7.23% | -9.83% | 9.56% | 0.84% |