RenaissanceRe Holdings Ltd. Files 2024 10-K

TL;DR

RenaissanceRe dropped its 2024 10-K. All the deets on their insurance biz.

AI Summary

RenaissanceRe Holdings Ltd. filed its 2024 10-K on February 12, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The filing provides comprehensive information on the company's operations in the fire, marine, and casualty insurance sector. Key financial data and operational details are presented for stakeholders.

Why It Matters

This 10-K filing provides investors and analysts with a detailed overview of RenaissanceRe's financial health and operational performance for the past fiscal year, crucial for understanding the company's stability and future prospects in the insurance market.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Players & Entities

• RenaissanceRe Holdings Ltd. (company) — Filer of the 10-K
• 0000913144-25-000009 (accession_number) — Unique identifier for the filing
• 20241231 (date) — Fiscal year end date
• 20250212 (date) — Filing date
• FIRE, MARINE & CASUALTY INSURANCE [6331] (industry) — Company's Standard Industrial Classification

FAQ

Key Financial Figures

• $1.00 — ch registered Common Shares, Par Value $1.00 per share RNR New York Stock Exchange

Filing Documents

• rnr-20241231.htm (10-K) — 6501KB
• a21c-spasideletterxsection.htm (EX-2.1(C)) — 123KB
• a21e-amendmentno2ofstockpu.htm (EX-2.1(E)) — 58KB
• ex191-insidertradingpolicy.htm (EX-19.1) — 65KB
• ex2112024.htm (EX-21.1) — 35KB
• exhibit221-listofregistere.htm (EX-22.1) — 3KB
• ex231202410-kpwc.htm (EX-23.1) — 2KB
• ex3112024.htm (EX-31.1) — 10KB
• ex3122024.htm (EX-31.2) — 10KB
• ex3212024.htm (EX-32.1) — 4KB
• ex3222024.htm (EX-32.2) — 4KB
• image_0a.jpg (GRAPHIC) — 19KB
• rnr-20241231_g1.jpg (GRAPHIC) — 107KB
• 0000913144-25-000009.txt ( ) — 30620KB
• rnr-20241231.xsd (EX-101.SCH) — 134KB
• rnr-20241231_cal.xml (EX-101.CAL) — 200KB
• rnr-20241231_def.xml (EX-101.DEF) — 976KB
• rnr-20241231_lab.xml (EX-101.LAB) — 1524KB
• rnr-20241231_pre.xml (EX-101.PRE) — 1322KB
• rnr-20241231_htm.xml (XML) — 6728KB

RISK FACTORS

ITEM 1A. RISK FACTORS 34

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 47 ITEM 1C. CYBERSECURITY 47

PROPERTIES

ITEM 2. PROPERTIES 48

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 48

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 48 PART II 49

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER REPURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER REPURCHASES OF EQUITY SECURITIES 49

RESERVED

ITEM 6. RESERVED 50

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 51

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 99

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 105

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 105

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 105

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 106

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 106 PART III 107

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 107

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 107

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS 107

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 107

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 107 PART IV 107

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 107

10-K SUMMARY

ITEM 16. 10-K SUMMARY 115

SIGNATURES

SIGNATURES 116 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 INDEX TO SCHEDULES TO CONSOLIDATED FINANCIAL STATEMENTS S- 1 NOTE ON FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K for the year ended December 31, 2024, of RenaissanceRe Holdings Ltd. contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, us. In particular, statements using words such as "may," "should," "estimate," "expect," "anticipate," "intend," "believe," "predict," "potential," or words of similar import generally involve forward-looking statements. For example, we may include certain forward-looking statements in "Management's Discussion and Analysis of Financial Condition and Results of Operations" with regard to trends in results, prices, volumes, operations, investment results, margins, combined ratios, fees, reserves, market conditions, risk management and exchange rates; the consequences of our strategic decisions; the performance of our underwriting portfolio, Capital Partners unit, and investment portfolio; and the impact of general economic conditions such as changes in inflation and interest rates on our results of operations. This Form 10-K also contains forward-looking statements with respect to our business and industry, such as those relating to our strategy and management objectives, plans and expectations regarding our response and ability to adapt to changing economic conditions, market standing and product volumes, estimates of

BUSINESS

ITEM 1. BUSINESS In this Form 10-K, references to "RenaissanceRe" refer to RenaissanceRe Holdings Ltd. (the parent company) and references to "we," "us," "our" and the "Company" refer to RenaissanceRe Holdings Ltd. together with its subsidiaries, unless the context requires otherwise. Defined terms used throughout this Form 10-K are included in the "Glossary of Defined Terms" at the end of "Part I, Item 1. Business" of this Form 10-K. We have also included a "Glossary of Selected Insurance and Reinsurance Terms" at the end of "Part I, Item 1. Business" of this Form 10-K. All dollar amounts referred to in this Form 10-K are in U.S. dollars unless otherwise indicated. Due to rounding, numbers presented in the tables included in this Form 10-K may not add up precisely to the totals provided. OVERVIEW RenaissanceRe is a global provider of reinsurance and insurance. We provide property, casualty and specialty reinsurance, and certain insurance solutions to customers, principally through intermediaries. Established in 1993, we have offices in Bermuda, Australia, Canada, Ireland, Singapore, Switzerland, the U.K., and the U.S. Our mission is to match desirable risk with efficient capital, and our vision is to be the best underwriter. We believe that this will allow us to produce superior returns for our shareholders over the long term, and enable our purpose to protect communities and enable prosperity. We seek to accomplish these goals by delivering a value proposition composed of leadership, expertise and partnership, through our operation as an integrated system of three competitive advantages: superior risk selection, superior customer relationships and superior capital management. Our current business strategy focuses predominantly on writing reinsurance. We apply our reinsurance lens of approaching risks as a portfolio to the insurance business that we write, primarily though delegated authority arrangements. Through our Capital Partners unit we create and ma

UNDERWRITING

UNDERWRITING Underwriting Income Our first driver of profit is underwriting income, which we earn on our core underwriting business. Our underwriting results are reflected in our reportable segments: (1) Property, which is comprised of catastrophe and other property (re)insurance written on behalf of our consolidated operating subsidiaries, joint ventures and managed funds; and (2) Casualty and Specialty, which is comprised of general casualty, professional liability, credit and other specialty (re)insurance written on behalf of our consolidated operating subsidiaries, joint ventures and managed funds. Our underwriting results reflect the full value of the business written on behalf of our consolidated operating subsidiaries, joint ventures and managed funds, before we reflect the interests of third-party investors in our consolidated joint ventures and managed funds that are not retained by us. 4 The following table shows gross premiums written allocated to each of our segments. Operating results relating to our segments are included in "Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations." Year ended December 31, 2024 2023 2022 (in thousands, except percentages) Gross Premiums Written Percentage of Gross Premiums Written Gross Premiums Written Percentage of Gross Premiums Written Gross Premiums Written Percentage of Gross Premiums Written Property $ 4,823,731 41.1 % $ 3,562,414 40.2 % $ 3,734,241 40.5 % Casualty and Specialty 6,909,335 58.9 % 5,299,952 59.8 % 5,479,299 59.5 % Total gross premiums written $ 11,733,066 100.0 % $ 8,862,366 100.0 % $ 9,213,540 100.0 % Across our segments, we write proportional business, excess of loss business, and business through delegated authority arrangements. The business we write through delegated authority arrangements is primarily insurance business. We view our insurance business through a reinsurance lens, with a focus on approaching it as a portfolio of risks

View Full Filing

View this 10-K filing on SEC EDGAR