RenaissanceRe Holdings Ltd. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>RenaissanceRe Holdings Ltd. has filed its Q1 2024 10-Q report, detailing financial performance and position as of March 31, 2024.</b>

AI Summary

RENAISSANCERE HOLDINGS LTD (RNR-PG) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. RenaissanceRe Holdings Ltd. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's standard industrial classification is FIRE, MARINE & CASUALTY INSURANCE. The filing was made as of May 1, 2024. The report includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking RENAISSANCERE HOLDINGS LTD, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest quarterly financial statements and disclosures for RenaissanceRe Holdings Ltd., crucial for understanding the company's performance and financial health. The detailed financial information, including balance sheets and income statements for the first quarter of 2024, allows for comparison with previous periods and assessment of trends in the insurance industry.

Risk Assessment

Risk Level: low — RENAISSANCERE HOLDINGS LTD shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain new, significant risks beyond those typically disclosed in such filings.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to assess RenaissanceRe's performance in the first quarter of 2024 and compare it to prior periods.

Key Numbers

• 2024-03-31 — Period of Report (CONFORMED PERIOD OF REPORT)
• 2024-05-01 — Filed As Of Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-03-31 — Prior Year Quarter End (Comparative Period)

Key Players & Entities

• RENAISSANCERE HOLDINGS LTD (company) — FILER
• 0000913144 (company) — CENTRAL INDEX KEY
• 6331 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• PEMBROKE (company) — CITY
• 001-14428 (regulator) — SEC FILE NUMBER
• 24903607 (company) — FILM NUMBER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-01 (date) — FILED AS OF DATE

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q report was officially filed with the SEC.

Key Financial Figures

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

Filing Documents

• rnr-20240331.htm (10-Q) — 2686KB
• ex3112024q1.htm (EX-31.1) — 10KB
• ex3122024q1.htm (EX-31.2) — 10KB
• ex3212024q1.htm (EX-32.1) — 4KB
• ex3222024q1.htm (EX-32.2) — 4KB
• 0000913144-24-000083.txt (&nbsp;) — 13296KB
• rnr-20240331.xsd (EX-101.SCH) — 57KB
• rnr-20240331_cal.xml (EX-101.CAL) — 109KB
• rnr-20240331_def.xml (EX-101.DEF) — 404KB
• rnr-20240331_lab.xml (EX-101.LAB) — 698KB
• rnr-20240331_pre.xml (EX-101.PRE) — 565KB
• rnr-20240331_htm.xml (XML) — 3061KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 7 ITEM 2. MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 52 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 88 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 88 PART II ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 89 ITEM 1A.

RISK FACTORS

RISK FACTORS 89 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 89 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 89 ITEM 4. MINE SAFETY DISCLOSURES 89 ITEM 5. OTHER INFORMATION 90 ITEM 6. EXHIBITS 91

SIGNATURES

SIGNATURES 92 2 GLOSSARY OF DEFINED TERMS In this Form 10-Q, 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. "2024 Large Loss Events" the collapse of the Francis Scott Key Bridge in Baltimore following a collision with a cargo ship in March 2024 "AIG" American International Group, Inc., a Delaware corporation and NYSE-listed company (together with its affiliates and subsidiaries) "ASC" Accounting Standards Codification "AlphaCat Managers" AlphaCat Managers Ltd. "A.M. Best" A.M. Best Company, Inc. "DaVinci" DaVinciRe Holdings Ltd. and its subsidiaries "DaVinci Reinsurance" DaVinci Reinsurance Ltd. "ERM" enterprise risk management "Exchange Act" the Securities Exchange Act of 1934, as amended "FAL" a deposit that must be submitted to support the underwriting capacity of a member of Lloyd's "FASB" Financial Accounting Standards Board "FCR" financial condition report "Fitch" Fitch Ratings Ltd. "Fontana" Fontana Holdings L.P. and its subsidiaries "Form 10-K" Annual Report on Form 10-K "Form 10-Q" this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 "IRS" United States Internal Revenue Service "Medici" RenaissanceRe Medici Fund Ltd. "Moody's" Moody's Investors Service "NYSE" New York Stock Exchange "OECD" Organisation for Economic Co-operation and Development "Q1 2023 Large Loss Events" the earthquakes in southern and central Turkey in February 2023, Cyclone Gabrielle, the flooding in northern New Zealand in January and February 2023, and various wind and thunderstorm events in both the Southern and Midwest U.S. during March 2023 "Renaissance Reinsurance" Renaissance Reinsurance Ltd. "Renaissance Reinsurance of Europe" Renaissance Reinsurance of Europe Unlimited Company "Renaiss

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Page Consolidated Balance Sheets at March 31, 2024 (unaudited) and December 31, 2023 8 Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 9 Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023 10 Consolidated Statements of Changes in Shareholders' Equity for the three months ended March 31, 2024 and 2023 11 Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 12 Notes to the Consolidated Financial Statements 13 Note 1. Organization 13 Note 2. Significant Accounting Policies 13 Note 3. Investments 14 Note 4. Fair Value Measurements 16 Note 5. Reinsurance 27 Note 6. Reserve for Claims and Claim Expenses 29 Note 7. Debt and Credit Facilities 33 Note 8. Noncontrolling Interests 34 Note 9. Variable Interest Entities 37 Note 10. Shareholders' Equity 42 Note 11. Earnings per Share 43 Note 12. Segment Reporting 44 Note 13. Derivative Instruments 45 Note 14. Commitments and Contingencies and Other Items 51 7 RenaissanceRe Holdings Ltd. and Subsidiaries Consolidated Balance Sheets (in thousands of United States Dollars, except share and per share amounts) March 31, 2024 December 31, 2023 Assets (Unaudited) (Audited) Fixed maturity investments trading, at fair value – amortized cost $ 21,519,144 at March 31, 2024 (December 31, 2023 – $ 20,872,450 ) $ 21,309,460 $ 20,877,108 Short term investments, at fair value - amortized cost $ 4,639,713 at March 31, 2024 (December 31, 2023 - $ 4,603,340 ) 4,639,165 4,604,079 Equity investments, at fair value 119,992 106,766 Other investments, at fair value 3,468,281 3,515,566 Investments in other ventures, under equity method 99,684 112,624 Total investments 29,636,582 29,216,143 Cash and cash equivalents 1,606,739 1,877,518 Premiums receivable 8,431,335 7,280,682

View Full Filing

View this 10-Q filing on SEC EDGAR