RenaissanceRe (RNR) Misses Q1 EPS by 38c, Revenues Miss

RenaissanceRe (NYSE: RNR) reported Q1 EPS of $0.09, $0.38 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $861.9 million versus the consensus estimate of $960.68 million.

Kevin J. O’Donnell, President and Chief Executive Officer, said, “We materially grew our underwriting portfolio while returning significant capital to our shareholders during a quarter that was negatively impacted by Winter Storm Uri and volatile capital markets. Going forward, we anticipate additional opportunities to grow into a broadly improving market by matching desirable risk with efficient capital, both on our wholly owned balance sheets and in our industry-leading RenaissanceRe Capital Partners business. Together with improved yields in our investment portfolio, this diligent execution of our strategy will further contribute to shareholder value creation.”

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

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