RENAISSANCERE HOLDINGS LTD RNR
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.85B | $11.70B | $9.13B | $5.06B | $5.28B | $5.17B | $4.20B | $2.07B | $2.10B | $1.73B |
| SG&A | $82.0M | $134.8M | $127.6M | $46.8M | $41.2M | $97.0M | $94.1M | $34.0M | $18.6M | $37.4M |
| Total operating expenses | — | — | — | — | — | — | — | $178.3M | $160.8M | $197.7M |
| Interest expense | $120.9M | $93.8M | $73.2M | $48.3M | $47.5M | $50.5M | $58.4M | $47.1M | $44.2M | $42.1M |
| Pre-tax income | $4.01B | $2.99B | $3.11B | -$1.22B | -$114.1M | $995.9M | $967.5M | $262.6M | -$328.2M | $630.4M |
| Income tax | $396.3M | $32.6M | $510.1M | $59.0M | $10.7M | $2.9M | $17.2M | $6.3M | $26.5M | $340.0K |
| Net income | $2.68B | $1.87B | $2.56B | -$1.06B | -$40.2M | $762.4M | $748.8M | $227.4M | -$222.4M | $503.0M |
| EPS, basic | 56.23 | 35.31 | 52.40 | -25.50 | -1.57 | 15.34 | 16.32 | 4.91 | -6.15 | 11.50 |
| EPS, diluted | 56.03 | 35.21 | 52.27 | -25.50 | -1.57 | 15.31 | 16.29 | 4.91 | -6.15 | 11.43 |
| Shares, diluted (wtd. avg.) | $46.5M | $51.3M | $47.6M | $43.0M | $47.2M | $47.2M | $43.2M | $39.8M | $39.9M | $41.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.73B | $1.68B | $1.88B | $1.19B | $1.86B | $1.74B | $1.38B | $1.11B | $1.36B | $421.2M |
| Short-term investments | — | — | — | — | — | — | — | $2.59B | $991.9M | $1.37B |
| Other intangibles | $332.7M | $403.8M | $482.1M | $34.8M | $41.3M | $51.0M | $65.9M | $57.0M | $54.5M | $65.5M |
| Total assets | $53.80B | $50.71B | $49.01B | $36.55B | $33.96B | $30.82B | $26.33B | $18.68B | $15.23B | $12.35B |
| Long-term debt | $2.33B | $1.89B | $1.96B | $1.17B | $1.17B | $1.14B | $1.38B | $991.1M | $989.6M | $948.7M |
| Total liabilities | $34.59B | $33.16B | $33.45B | $26.69B | $23.78B | $19.87B | $17.29B | $11.58B | $9.54B | $6.31B |
| Retained earnings | $10.83B | $8.28B | $6.52B | $4.07B | $5.23B | $5.37B | $4.71B | $4.06B | $3.91B | $4.21B |
| Total equity | $11.61B | $10.57B | $9.45B | $5.33B | $6.62B | $7.56B | $5.97B | $5.05B | $4.39B | $4.87B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.69B | $4.16B | $1.91B | $1.60B | $1.23B | $1.99B | $2.14B | $1.22B | $1.03B | $484.8M |
| Depreciation and amortisation | -$14.1M | $258.5M | -$134.8M | -$26.9M | -$21.0M | $16.7M | -$59.0M | $123.0K | $31.2M | $29.3M |
| Stock-based compensation | $77.5M | $71.4M | $60.3M | $45.2M | $40.0M | $43.7M | $41.4M | $35.7M | $37.2M | $47.4M |
| Investing cash flow | -$2.22B | -$3.06B | -$3.82B | -$3.02B | -$816.3M | -$2.30B | -$2.99B | -$2.54B | -$122.4M | -$164.5M |
| Financing cash flow | -$1.41B | -$1.29B | $2.59B | $725.3M | -$302.5M | $665.2M | $1.12B | $1.07B | $28.9M | -$401.3M |
| Dividends paid | $74.8M | $80.8M | $75.1M | $64.7M | $67.8M | $68.5M | $59.4M | $52.8M | $51.4M | $51.6M |
| Buybacks | $1.60B | $666.9M | $0 | $166.7M | $1.03B | $62.6M | $0 | $0 | $188.6M | $309.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000913144-26-000012.
Others in SIC 6331
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CB | Chubb Ltd | $132.49B | 13.3x | 6.5% |
| PGR | PROGRESSIVE CORP/OH/ | $127.29B | 11.4x | 16.3% |
| TRV | TRAVELERS COMPANIES, INC. | $77.04B | 13.5x | 5.2% |
| ALL | ALLSTATE CORP | $65.63B | 6.8x | 5.6% |
| AIG | AMERICAN INTERNATIONAL GROUP, INC. | $39.85B | 14.0x | -1.7% |
| HIG | HARTFORD INSURANCE GROUP, INC. | $37.48B | 10.4x | 3.3% |
| ACGL | ARCH CAPITAL GROUP LTD. | $33.47B | 8.5x | 14.3% |
| CINF | CINCINNATI FINANCIAL CORP | $26.26B | 11.3x | 11.4% |