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RenaissanceRe (RNR)

RenaissanceRe is a global provider of reinsurance and insurance that specializes in matching well-structured risks with efficient sources of capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, the Company has offices in Bermuda, Australia, Ireland, Singapore, Switzerland, the United Kingdom and the United States.

Company profile

Ticker
RNR, RNR-PF, RNR-PG
Exchange
Website
CEO
Kevin O'Donnell
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
DaVinci Reinsurance Ltd. • DaVinciRe Holdings Ltd. • Renaissance Investment Holdings Ltd. • Renaissance Investment Holdings II Ltd. • Renaissance Investment Management Company Limited • Renaissance Other Investments Holdings Ltd. • Renaissance Other Investments Holdings II Ltd. • Renaissance Other Investments Holdings III Ltd. • Renaissance Reinsurance Ltd. • Renaissance Reinsurance of Europe Unlimited Company ...
IRS number
980138020

RNR stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

26 Jul 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.4B 1.4B 1.4B 1.4B 1.4B 1.4B
Cash burn (monthly) 54.99M 32.64M 99.09M 90.59M (no burn) (no burn)
Cash used (since last report) 80.11M 47.55M 144.37M 131.99M n/a n/a
Cash remaining 1.32B 1.35B 1.25B 1.27B n/a n/a
Runway (months of cash) 24.0 41.4 12.7 14.0 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Brian Gerald John Gray Common Stock Buy Acquire P No No 130.62 7,500 979.65K 23,621
20 May 22 David C Bushnell Common Stock Gift Dispose G No No 0 1,400 0 18,514
20 May 22 David C Bushnell Common Stock Sell Dispose S No No 148.4119 600 89.05K 19,914
16 May 22 Shyam H Gidumal Common Stock Grant Acquire A No No 0 1,040 0 1,040

Financial report summary

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Risks
  • Our exposure to natural and non-natural catastrophic events and circumstances could cause significant variance in, or adversely impact, our financial results.
  • The trend towards increasingly frequent and severe climate events could exacerbate our potential exposure to losses from natural perils.
  • Our claims and claim expense reserves are subject to inherent uncertainties, and if actual claims exceed our reserves, our financial results could be adversely affected.
  • Emerging claim and coverage issues, or other litigation, could adversely affect us.
  • We depend on a few insurance and reinsurance brokers for a preponderance of our business, and any loss of business provided by them could adversely affect us.
  • The (re)insurance business is historically cyclical and the pricing and terms for our products may decline, which would affect our profitability and ability to maintain or grow premiums.
  • Retrocessional reinsurance may not be available to us on acceptable terms or provide the coverage we intended to obtain, or we may not be able to collect on claimed retrocessional coverage.
  • We depend on the policies, procedures and expertise of ceding companies and delegated authority counterparties, who may fail to accurately assess the risks they underwrite, which exposes us to operational and financial risks.
  • A decline in our financial strength ratings may adversely impact our business, perhaps materially.
  • We operate in a highly competitive environment.
  • Large non-recurring contracts and reinstatement premiums may increase the volatility of our financial results.
  • The loss of key senior members of management and the inability to attract and retain qualified personnel could adversely affect us.
  • We are subject to cybersecurity risks and may incur increasing costs to minimize those risks.
  • We may from time to time modify our business and strategic plan, and these changes could adversely affect us and our financial condition.
  • We are exposed to risks in connection with our management of capital on behalf of investors in joint ventures or other entities we manage.
  • The covenants in our debt agreements limit our financial and operational flexibility, which could have an adverse effect on our financial condition.
  • The determination of impairments taken is highly subjective and could materially impact our financial condition or results of operations.
  • A decline in our investment performance could reduce our profitability and capital resources.
  • We may be adversely impacted by inflation.
  • We are exposed to counterparty credit risk, which could increase our liabilities and reduce liquidity.
  • The continuing COVID-19 pandemic has and may continue to adversely affect our financial performance and ability to conduct operations.
  • We may be adversely affected by foreign currency fluctuations.
  • We may require additional capital in the future, which may not be available or may only be available on unfavorable terms.
  • The regulatory systems under which we operate could restrict our ability to operate, increase our costs, or otherwise adversely impact us.
  • Political, regulatory and industry initiatives by state and international authorities could adversely affect our business.
  • We face risks related to changes in Bermuda law and regulations, and the political environment in Bermuda.
  • Our liquidity could be impacted due to regulatory requirements for collateral by non-U.S. insurers.
  • Regulatory regimes and changes to accounting rules may adversely impact our financial results irrespective of business operations.
  • Our business is subject to certain laws and regulations relating to sanctions and foreign corrupt practices, the violation of which could adversely affect our operations.
  • Our Bermuda subsidiaries may be subject to U.S. corporate income tax.
  • U.S. tax changes could reduce our access to capital, decrease demand for our products, impact our shareholders or investors in our joint ventures or other entities we manage or otherwise adversely affect us.
  • The OECD and the jurisdictions in which we operate may pursue measures that might increase our taxes and reduce our net income and increase our reporting requirements.
  • Because we are a holding company, we are dependent on dividends and payments from our subsidiaries.
  • Some aspects of our corporate structure may discourage third-party takeovers and other transactions or prevent the removal of our current board of directors and management.
  • Investors may have difficulty in serving process or enforcing judgments against us in the U.S.

Content analysis

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Removed: approach, deploying, expand, geographically, historic, receiving