RenaissanceRe (RNR) Tops Q2 EPS by 41c

RenaissanceRe (NYSE: RNR) reported Q2 EPS of $2.79, $0.41 better than the analyst estimate of $2.38. Revenue for the quarter came in at $505.59 million versus the consensus estimate of $454.35 million.

Kevin J. O'Donnell, CEO, commented: “We had a good quarter, generating an annualized operating return on average common equity of 10.0% and growing tangible book value per common share plus accumulated dividends by 3.9%. Recognizing challenging market conditions, we executed on our gross-to-net strategy to build an attractive net portfolio of risk. We believe that we have the right strategy and necessary flexibility to navigate the market conditions ahead while continuing to maximize shareholder value over the long-term.”

For earnings history and earnings-related data on RenaissanceRe (RNR) click here.

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