Fundamentals snapshot
RNR · NYQ · Financial Services · Insurance - Reinsurance
Current price
$351.06
52-week range
$231.17 - $351.20
Market cap
$14.59B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $28.10B. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
RenaissanceRe Holdings Ltd. is a company that essentially sells insurance to other insurance companies. They mainly make money by collecting premiums from these insurers to protect them from large, unexpected losses like major natural disasters or complex lawsuits, which is important because it helps keep the insurance market stable.
RenaissanceRe Holdings Ltd. was founded in 1993 in Bermuda, in the wake of Hurricane Andrew, which caused significant disruption in the insurance market. [2, 6] The company was established with the goal of bringing a "renaissance" to the underwriting of property catastrophe reinsurance, focusing on strong analytical skills and data-driven pricing. [2, 11] It went public on the New York Stock Exchange (NYSE) in 1995, which provided access to capital markets. [2] Over the years, RenaissanceRe has grown and diversified through strategic acquisitions, such as Platinum Underwriters in 2015 and Tokio Millennium Re and Validus Re in 2023. [2, 6] These acquisitions have expanded its capabilities beyond property catastrophe into casualty and specialty reinsurance, creating a more diversified global platform. [6]
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. [8] Reinsurance is essentially insurance for insurance companies. [8] When an insurance company has too many claims or faces a very large, unexpected event (like a major hurricane), it can buy reinsurance to protect itself from massive losses. [8] RenaissanceRe steps in to cover some of those risks, allowing primary insurers to offer coverage to more people and businesses. [8] The company operates by taking on these risks, pricing them carefully using strong analytics, and then matching them with the most efficient sources of capital, which can be its own money or money from investors it manages. [6, 8]
This segment focuses on property catastrophe reinsurance. This means RenaissanceRe insures insurance companies against major natural disasters like hurricanes, earthquakes, and wildfires. [2, 9] It also covers other property-related risks that aren't necessarily catastrophic, such as individual property damage claims that exceed a certain amount. [2] This part of the business is crucial for helping insurers manage the financial impact of large-scale events that could otherwise bankrupt them. [2]
This segment covers a wide array of risks beyond natural disasters. It includes reinsurance for liability claims, such as those related to directors and officers of companies (known as D&O insurance), medical malpractice, and professional errors (professional indemnity). [2, 9] It also covers specialized areas like automobile liability, workers' compensation, and general liability. [2] Furthermore, this segment extends to niche markets like aviation, marine, cyber risks, and energy sector liabilities, providing insurance for unique and complex risks. [2, 9]
RenaissanceRe's current strategy centers on maintaining strong underwriting margins, which means ensuring they are profitable from the core business of taking on risk. [10] They are also focused on growing their "Capital Partners" business, which involves managing money for external investors who want to invest in reinsurance risk, generating fee income. [10, 13] Additionally, the company is committed to returning capital to shareholders through share repurchases (buying back its own stock) when the valuation is attractive. [10] Management emphasizes that the company is now larger, more diversified geographically and by line of business, with significant contributions from investments and fees, making it more resilient. [10]
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $28.1B - more cash than debt. Interest coverage 34.2x.
RenaissanceRe Holdings Ltd.'s profit covers its interest bill about 34.2 times over. which is stronger than most peers shown here.
Total debt $2.34B Interest coverage 34.21x This is the baseline the peer rows are being compared against.
Total debt $4.29B Interest coverage 34.64x +1% vs RNR Has roughly the same debt cushion as RNR.
Total debt $5.71B Interest coverage 5.21x -85% vs RNR Carries about 6.6x less debt cushion than RNR.
Total debt $3.59B Interest coverage 13.50x -61% vs RNR Carries about 2.5x less debt cushion than RNR.
Total debt $1.49B Interest coverage 19.24x -44% vs RNR Carries about 1.8x less debt cushion than RNR.
Total debt $4.37B Interest coverage 14.27x -58% vs RNR Carries about 2.4x less debt cushion than RNR.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
Dividend
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What you should know