RenaissanceRe Holdings Third Quarter 2024 Earnings: Beats Expectations

RenaissanceRe Holdings (NYSE:RNR) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$3.96b (up 113% from 3Q 2023).
• Net income: US$1.17b (up by US$982.3m from 3Q 2023).
• Profit margin: 30% (up from 10% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$23.03 (up from US$3.81 in 3Q 2023).

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

RenaissanceRe Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 43%.

Looking ahead, revenue is expected to decline by 3.9% p.a. on average during the next 3 years, while revenues in the Insurance industry in the US are expected to grow by 5.3%.

Performance of the American Insurance industry.

The company's shares are up 1.3% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for RenaissanceRe Holdings that you should be aware of.

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