RenaissanceRe (RNR) reported Q1 EPS of $3.50, $1.41 worse than the analyst estimate of $4.91.
- Grew net premiums written by $341.1 million, or 18.7%; driven by growth in Casualty and Specialty net premiums written of $459.4 million, or 56.3%.
- Launched Fontana, an innovative casualty and specialty joint venture, in April 2022, expanding fee income business.
- Reported a combined ratio of 86.5%, which included an impact of 7.0 percentage points from the Q1 2022 Weather-Related Large Losses and 1.8 percentage points related to the Russia-Ukraine War.
- Repurchased $93.4 million of common shares.