RenaissanceRe (RNR) Tops Q1 EPS by 43c, Revenues Beat

RenaissanceRe (NYSE: RNR) reported Q1 EPS of $3.60, $0.43 better than the analyst estimate of $3.17. Revenue for the quarter came in at $807.12 million versus the consensus estimate of $613.91 million.

Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, commented: “Our strong first quarter was distinguished by solid profits, material growth and strategic advancement. We achieved an annualized operating return on average common equity of 13.3% and growth in tangible book value per common share plus accumulated dividends of 7.0%. At the same time, we grew our business materially by leveraging into an improving rate environment. The purchase of Tokio Millennium Re advanced our strategy, and we have moved from planning to execution on what we are optimistic will be a quick and successful integration.”

For earnings history and earnings-related data on RenaissanceRe (RNR) click here.

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