RenaissanceRe Report Net Income Of $36.7M
RenaissanceRe Holdings reported net income available to RenaissanceRe common shareholders of $36.7 million, or $0.83 per diluted common share, in the third quarter of 2019, compared to $32.7 million, or $0.82 per diluted common share, in the third quarter of 2018.
Operating income available to RenaissanceRe common shareholders was $13.0 million, or $0.29 per diluted common share, in the third quarter of 2019, compared to $17.8 million, or $0.45 per diluted common share, in the third quarter of 2018.
Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, commented: “In an active period for the industry, we assisted our customers in managing the quarter’s catastrophic events while rapidly paying their claims. I am proud of our team’s hard work during the quarter and pleased to report positive net and operating income and growth in tangible book value per share plus accumulated dividends.
“Our value proposition lies in quantifying risk and absorbing large losses as they occur, contributing to the resilience of communities and building stronger relationships with our partners. As we look forward to 2020, these strong relationships combined with our differentiated strategy will provide us with many opportunities to continue delivering long-term value.”
