RenaissanceRe Q3 net income $194M; completes Validus Re acquisition

RENAISSANCERE HOLDINGS LTD

2023-Q3 EPS reported $20.13 revenue$5,894,318,000

Q3 net income available to common shareholders $194.0M ($3.80 diluted EPS); operating income $422.3M ($8.33 diluted EPS).
Overall combined ratio 78.0%; underwriting income $385.8M.
Fee income $64.6M, up 150.9% from Q3 2022; net investment income $329.1M, up 108.6%.
Annualized operating ROE 25.0%, diluted ~5 pp from capital raised for Validus acquisition.
Completed Validus Re acquisition from American International Group on November 1, 2023.

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