| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 3/6 |
| Past Performance | 2/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
RNR Overview
RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally.
RenaissanceRe Holdings Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$144.00 |
| 52 Week High | US$142.52 |
| 52 Week Low | US$185.05 |
| Beta | 0.48 |
| 1 Month Change | -11.43% |
| 3 Month Change | -0.36% |
| 1 Year Change | -13.44% |
| 3 Year Change | 6.33% |
| 5 Year Change | 19.50% |
| Change since IPO | 1,909.30% |
Recent News & Updates
RenaissanceRe Holdings' (NYSE:RNR) Upcoming Dividend Will Be Larger Than Last Year's
RenaissanceRe Holdings Ltd.'s ( NYSE:RNR ) dividend will be increasing to US$0.36 on 30th of September. Although the...
RenaissanceRe Still Getting Little Love Despite Better Near-Term Results And A Sound Long-Term Strategy
RenRe posted better-than-expected second quarter results on better core loss ratios and better than expected prior-year developments. Premium growth was a little higher than expected, with considerably more C&S underwriting. Management continues to shift capital toward Casualty & Specialty underwriting, and I expect the business to become more profitable with scale. The property catastrophe reinsurance market is still over-capitalized, but RenRe can generate good margins managing third-party capital and climate change could disrupt competitor models (and reserves). A long-term core earnings growth rate in the mid-4%'s would still support a fair value above $165, and I think RenRe can still do better than that.
Shareholder Returns
| RNR | US Insurance | US Market | |
|---|---|---|---|
| 7D | -2.1% | -0.7% | -0.6% |
| 1Y | -13.4% | 35.9% | 33.8% |
Return vs Industry: RNR underperformed the US Insurance industry which returned 35.9% over the past year.
Return vs Market: RNR underperformed the US Market which returned 33.8% over the past year.
Price Volatility
| RNR volatility | |
|---|---|
| RNR Beta | 0.48 |
| Industry Beta | 0.97 |
| Market Beta | 1 |
Stable Share Price: RNR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: RNR's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1993 | 604 | Kevin O'Donnell | https://www.renre.com |
RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S. multi-line reinsurance.
Valuation
Is RenaissanceRe Holdings undervalued compared to its fair value and its price relative to the market?
45.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: RNR ($144) is trading below our estimate of fair value ($264.57)
Significantly Below Fair Value: RNR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: RNR is poor value based on its PE Ratio (17x) compared to the US Insurance industry average (9.5x).
PE vs Market: RNR is good value based on its PE Ratio (17x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: RNR is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: RNR's PB Ratio (1x) is in line with the US Insurance industry average.
Future Growth
How is RenaissanceRe Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
43.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RNR's forecast earnings growth (43.7% per year) is above the savings rate (2%).
Earnings vs Market: RNR's earnings (43.7% per year) are forecast to grow faster than the US market (14.8% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: RNR's revenue (8.4% per year) is forecast to grow slower than the US market (9.8% per year).
High Growth Revenue: RNR's revenue (8.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RNR's Return on Equity is forecast to be low in 3 years time (12.2%).
Past Performance
How has RenaissanceRe Holdings performed over the past 5 years?
16.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RNR has high quality earnings.
Growing Profit Margin: RNR's current net profit margins (7.9%) are lower than last year (12%).
Past Earnings Growth Analysis
Earnings Trend: RNR's earnings have grown by 16.8% per year over the past 5 years.
Accelerating Growth: RNR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: RNR had negative earnings growth (-28.4%) over the past year, making it difficult to compare to the Insurance industry average (76%).
Return on Equity
High ROE: RNR's Return on Equity (4.7%) is considered low.
Financial Health
How is RenaissanceRe Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: RNR's short term assets ($29.7B) exceed its short term liabilities ($20.5B).
Long Term Liabilities: RNR's short term assets ($29.7B) exceed its long term liabilities ($1.3B).
Debt to Equity History and Analysis
Debt Level: RNR's debt to equity ratio (10.5%) is considered satisfactory.
Reducing Debt: RNR's debt to equity ratio has reduced from 16.4% to 10.5% over the past 5 years.
Debt Coverage: RNR's debt is well covered by operating cash flow (129.2%).
Interest Coverage: RNR's interest payments on its debt are well covered by EBIT (10.9x coverage).
Balance Sheet
Dividend
What is RenaissanceRe Holdings's current dividend yield, its reliability and sustainability?
1.00%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: RNR's dividend (1%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: RNR's dividend (1%) is low compared to the top 25% of dividend payers in the US market (3.6%).
Stability and Growth of Payments
Stable Dividend: RNR's dividends per share have been stable in the past 10 years.
Growing Dividend: RNR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (17.6%), RNR's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: RNR's dividends in 3 years are forecast to be thoroughly covered by earnings (7.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.6yrs
Average management tenure
CEO
Kevin O'Donnell (54 yo)
8.17yrs
Tenure
US$9,556,635
Compensation
Mr. Kevin Joseph O’Donnell has been the Chief Executive Officer and President at RenaissanceRe Holdings Ltd. and Renaissance Reinsurance U.S. Inc. since July 1, 2013 and November 13, 2012 respectively.Mr....
CEO Compensation Analysis
Compensation vs Market: Kevin's total compensation ($USD9.56M) is above average for companies of similar size in the US market ($USD6.43M).
Compensation vs Earnings: Kevin's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: RNR's management team is considered experienced (4.6 years average tenure).
Board Members
Experienced Board: RNR's board of directors are considered experienced (8.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
RenaissanceRe Holdings Ltd.'s employee growth, exchange listings and data sources
Key Information
- Name: RenaissanceRe Holdings Ltd.
- Ticker: RNR
- Exchange: NYSE
- Founded: 1993
- Industry: Reinsurance
- Sector: Insurance
- Market Cap: US$6.783b
- Shares outstanding: 47.11m
- Website: https://www.renre.com
Number of Employees
Location
- RenaissanceRe Holdings Ltd.
- Renaissance House
- 12 Crow Lane
- Pembroke
- HM 19
- Bermuda
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/09/19 22:03 |
| End of Day Share Price | 2021/09/17 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.