RENAISSANCERE HOLDINGS LTD

Listed Company

RNR-PGCIK 0000913144NYSELarge AcceleratedFire, Marine & Casualty InsuranceD0FY ends Dec 31

Period

FY 2025

Revenue

$12.85B

Net Income

$2.68B

Total Assets

$53.80B

Equity

$11.61B

Shares Out

42.63M

Op. Cash Flow

$3.69B

+ 13F Filer

Business

RENAISSANCERE HOLDINGS LTD is a global provider of reinsurance and insurance that underwrites property, casualty and specialty risks and manages related capital solutions. It offers excess of loss and proportional reinsurance, delegated authority insurance arrangements, catastrophe bonds and capital management services including jointly managed funds and fee-generating investment vehicles. The company reports two principal business segments: Property (catastrophe and other property reinsurance) and Casualty and Specialty (general casualty, professional liability, credit and other specialty (re)insurance). It distributes products worldwide primarily through reinsurance brokers and intermediaries, and operates multiple consolidated subsidiaries and joint ventures to access diverse markets and capital sources.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gross premiums written (Note 7)	11,738	11,733	8,862	9,214	7,834
Net premiums written (Note 7)	9,870	9,952	7,468	7,196	5,939
Decrease (increase) in unearned premiums	31	144	3	−862	−745
Net premiums earned (Note 7)	9,901	10,096	7,471	6,334	5,194
Net investment income (Note 5)	1,703	1,654	1,253	560	319
Net foreign exchange gains (losses)	−14	−76	−41	−57	−41
Equity in earnings (losses) of other ventures (Note 5)	71	47	43	11	12
Other income (loss)	4	2	−6	13	11
Net realized and unrealized gains (losses) on investments	1,181	−28	415	−1,800	−218
Total revenues	12,848	11,695	9,135	5,060	5,278
Net claims and claim expenses incurred (Notes 7 and 8)	5,616	5,333	3,574	4,339	3,876
Acquisition expenses	2,551	2,644	1,875	1,569	1,215
Operational expenses	464	497	375	277	212
Corporate expenses	82	135	128	47	41
Interest expense (Note 9)	121	94	73	48	—
Total expenses	8,834	8,702	6,025	6,279	5,392
Income (loss) before taxes	4,014	2,993	3,110	−1,219	−114
Income tax benefit (expense) (Note 15)	−396	−33	510	59	11
Net income (loss)	3,618	2,961	3,620	−1,160	−103
Net (income) loss attributable to redeemable noncontrolling interests (Note 10)	−935	−1,090	−1,059	99	63
Net income (loss) attributable to RenaissanceRe	2,682	1,870	2,561	−1,061	−40
Dividends on preference shares (Note 12)	−35	−35	−35	−35	−33
Net income (loss) available (attributable) to RenaissanceRe common shareholders	2,647	1,835	2,526	−1,097	−73
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share basic (in dollars per share)	56.23	35.31	52.4	−25.5	−1.57
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share diluted (in dollars per share)	56.03	35.21	52.27	−25.5	−1.57

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed maturity investments trading, at fair value - amortized cost $24,658,351 at December 31, 2025 (2024 - $23,750,540) (Notes 5 and 6)	24,884	23,563	20,877	14,351	13,507
Short term investments, at fair value - amortized cost $4,760,027 at December 31, 2025 (2024 - $4,532,166) (Notes 5 and 6)	4,760	4,532	4,604	4,669	5,298
Equity investments, at fair value (Notes 5 and 6)	1,733	118	107	625	546
Other investments, at fair value (Notes 5 and 6)	4,574	4,325	3,516	2,495	1,993
Investments in other ventures, under equity method (Note 5)	122	103	113	80	98
Total investments	36,073	32,639	29,216	22,220	21,443
Cash and cash equivalents	1,731	1,677	1,878	1,194	1,859
Premiums receivable (Note 7)	7,300	7,300	7,300	5,100	3,800
Prepaid reinsurance premiums	994	888	925	1,021	855
Reinsurance recoverable (Notes 7 and 8)	3,900	4,481	5,344	4,711	4,269
Accrued investment income	234	238	206	122	56
Deferred acquisition costs and value of business acquired	1,539	1,552	1,751	1,172	849
Deferred tax asset	702	701	685	123	—
Receivable for investments sold	415	92	622	351	380
Other assets	328	444	324	262	224
Goodwill and other intangible assets (Note 4)	633	704	775	238	243
Total assets	53,800	50,708	49,007	36,553	33,960
Reserve for claims and claim expenses (Note 8)	22,302	21,303	20,487	15,893	13,295
Unearned premiums	6,028	5,950	6,136	4,559	3,531
Debt (Note 9)	2,300	1,900	2,000	1,200	1,200
Reinsurance balances payable	2,541	2,804	3,186	3,928	3,861
Payable for investments purchased	533	151	662	494	1,171
Other liabilities	856	1,060	1,022	648	755
Total liabilities	34,590	33,156	33,451	26,692	23,781
Commitments and contingencies (Note 20)	—	—	—	—	—
Redeemable noncontrolling interests (Note 10)	7,602	6,978	6,101	4,535	3,554
Preference shares: $1.00 par value 30,000 shares issued and outstanding at December 31, 2025 (2024 30,000) (Note 12)	750	750	750	750	750
Common shares: $1.00 par value 43,961,539 shares issued and outstanding at December 31, 2025 (2024 50,180,987) (Note 12)	44	50	53	44	44
Additional paid-in capital (Note 12)	0	1,512	2,144	476	608
Accumulated other comprehensive income (loss)	−13	−15	−14	−15	−11
Retained earnings (Note 12)	10,827	8,276	6,522	4,071	5,233
Total shareholders equity attributable to RenaissanceRe	11,609	10,574	9,455	5,325	6,624
Total liabilities, noncontrolling interests and shareholders equity	53,800	50,708	49,007	36,553	33,960

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization, accretion and depreciation	−14	258	−135	−27	−21
Equity in undistributed (earnings) losses of other ventures	−17	9	−8	11	13
Net realized and unrealized (gains) losses on investments	−1,182	−29	−483	1,635	206
Premiums receivable	38	−10	−127	−1,358	−887
Prepaid reinsurance premiums	−105	36	223	−167	−31
Reinsurance recoverable	581	863	664	−442	−1,343
Deferred acquisition costs and value of business acquired	14	199	37	−323	−216
Reserve for claims and claim expenses	999	817	−35	2,598	2,913
Unearned premiums	78	−186	−227	1,028	768
Reinsurance balances payable	−264	−382	−1,040	67	373
Other	−52	−372	−579	−259	−437
Net cash provided by (used in) operating activities	3,693	4,165	1,912	1,604	1,235
Proceeds from sales and maturities of fixed maturity investments trading	12,687	23,515	21,797	22,086	15,544
Purchases of fixed maturity investments trading	−13,304	−26,297	−24,771	−24,923	−15,680
Proceeds from sales of short term investments	45,560	31,772	41,153	26,613	—
Purchases of short term investments	−45,694	−31,598	−39,310	−25,972	—
Proceeds from sales of equity investments	2	463,000	566	659	—
Purchases of equity investments	−1,565	−205,000	−2	−862	—
Proceeds from sales of other investments	1,011	1,087	490	409	—
Purchases of other investments	−1,475	−1,446	−1,217	−1,028	—
Purchases of investments in other ventures	−1	−57	−25	−4	−24
Return of investments in other ventures	321,000	41	6	2	8
Net settlements of derivatives	564	−80	−74	—	—
Net purchase of Validus	0	0	−2,434	0	0
Net cash provided by (used in) investing activities	−2,216	−3,061	−3,823	−3,016	−816
Dividends paid RenaissanceRe common shares	−75	−81	−75	−65	−68
Dividends paid preference shares	−35	−35	−35	−35	−33
RenaissanceRe common share repurchases	−1,600	−667	0	−167	−1,028
RenaissanceRe common share issuance, net of expenses	0	0	1,352	0	0
Repayment of debt	−450	−75	−30	0	0
Issuance of debt, net of expenses	889	0	741	0	0
Repayment of Medici Revolving Credit Facility	−75	−75	0	0	0
Drawdown of Medici Revolving Credit Facility	75	75	75	0	30
Subscriptions of third-party redeemable noncontrolling interest shares	212	537	983	1,278	—
Redemptions of third-party redeemable noncontrolling interest shares	−328	−943	−400	−275	—
Taxes paid on withholding shares	−24	−24	−21	−11	−12
Net cash provided by (used in) financing activities	−1,411	−1,288	2,589	725	−302
Effect of exchange rate changes on foreign currency cash	−12	−17	6	22	6
Net increase (decrease) in cash and cash equivalents	55	−201	683	−665	122
Interest paid	112	88	74	46	21
Non-cash consideration	0	0	285	0	0

Filings

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Holdings (13F)

Portfolio as of 2025-12-31 · 5 positions

Reported AUM

$744.20M

Holdings

Top sector

$744.20M

Top sectors

Sector	Value	% of portfolio
Uncategorized	$744.20M	100.0%

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