RenaissanceRe Holdings (NYSE:RNR) Full Year 2024 Results

Key Financial Results

• Revenue: US$11.8b (up 28% from FY 2023).
• Net income: US$1.81b (down 27% from FY 2023).
• Profit margin: 15% (down from 27% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$35.31 (down from US$52.40 in FY 2023).

RNR Profitability Indicators

• Combined ratio: 83.9% (up from 77.9% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

RenaissanceRe Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 14%.

The primary driver behind last 12 months revenue was the Casualty and Specialty segment contributing a total revenue of US$6.25b (53% of total revenue). Notably, cost of sales worth US$7.98b amounted to 68% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$1.36b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how RNR's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are down 3.6% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for RenaissanceRe Holdings that you should be aware of.

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