Analyst Consensus ?
ConsensusHold19 ratings
Bullish631.6%
Neutral1052.6%
Bearish315.8%
RenaissanceRe Holdings Ltd. · RNR-PG · FY2026 Q2 · Calendar Q3 2026
RenaissanceRe sustains strong earnings amid softer property-cat rates
RenaissanceRe's Q2 analysis supports a constructive but conditional view: strong operating earnings, disciplined underwriting, capital returns and AI-enabled risk selection support continued performance, while softer property-cat rates, casualty pressure and geopolitical exposure remain important offsets.
Reported After market closeNYSEFinancial Services
$12.90B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$12.92
Consensus $11.72
EPS surprise
+10.2%
Reported versus consensus
Reported revenue
$2.28B
Consensus $2.57B
Revenue surprise
-11.4%
Reported versus consensus
Market reaction
unavailable
Stock move
—
Event window
SPY move
—
Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
—
Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about RNR-PG FY2026 Q2
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How did the market react to RNR-PG FY2026 Q2 earnings, and why?What changed in RNR-PG's guidance and outlook in FY2026 Q2?Give me the bull and bear case for RNR-PG after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Management described continued strength in operating earnings and tangible book value growth, added property-cat limit despite rate declines, and advanced generative AI from underwriting augmentation toward automation. Casualty and specialty performance weakened, with combined ratios above 100% mainly reflecting the Baltimore bridge loss shift; management also highlighted a 2027 CFO transition.
Guidance delta
Guidance sentiment remained maintained. Management is preparing for 2027 renewals, plans additional U.S. property-cat capital deployment, and expects to continue share buybacks while managing credit, specialty and ceded-reinsurance exposures.
Key takeaways
- Operating earnings and ROE remained strong, supporting tangible book value growth.
- Property-cat rates declined, but management said pricing remained adequate and the company added $600 million of limit.
- Casualty and specialty combined ratios exceeded 100%, mainly due to the Baltimore bridge loss shift.
- Share repurchases remained a core capital-management tool, with $350 million repurchased in the quarter.
- AI integration is progressing from underwriting augmentation toward automation.
Management priorities
- Disciplined underwriting and selective growth in high-margin risk layers.
- Additional U.S. property-cat capital deployment and preparation for 2027 renewals.
- Continued share repurchases and capital-efficient portfolio management.
- Expansion of AI capabilities in underwriting and risk analysis.
- Management of credit, specialty, ceded-reinsurance and geopolitical exposures.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 10, 2023 |
| B of A Securities | Buy | Buy | Maintain | Aug 20, 2023 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 16, 2023 |
| BMO Capital | Outperform | Market Perform | Upgrade | Jul 10, 2023 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | May 10, 2023 |
| Jefferies | Hold | Hold | Maintain | Apr 9, 2023 |
| JP Morgan | Underweight | Underweight | Maintain | Mar 30, 2023 |
| Citigroup | Neutral | Neutral | Maintain | Jun 20, 2021 |
| Goldman Sachs | Buy | Neutral | Upgrade | Jan 7, 2021 |
| Deutsche Bank | Hold | Hold | Maintain | Oct 28, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Jan 21, 2020 |
| UBS | Neutral | Neutral | Maintain | Nov 3, 2019 |
| Barclays | Underweight | Underweight | Maintain | Oct 1, 2019 |
| Nomura | Neutral | Reduce | Upgrade | Dec 6, 2015 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Jun 15, 2014 |
| RBC Capital | Sector Perform | Outperform | Downgrade | Feb 4, 2014 |
| Credit Suisse | Underperform | Neutral | Downgrade | Oct 17, 2013 |
| Bernstein | Market Perform | Outperform | Downgrade | Jul 8, 2013 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Oct 8, 2012 |
Track every rating change on RNR-PG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationRenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, serving clients both within the United States and abroad. Its operations are structured across two main divisions: Property, and Casualty and Specialty. Within its Property segment, the company specializes in underwriting catastrophe excess of loss reinsurance and retrocessional reinsurance. These offerings protect insurance and reinsurance firms from a broad spectrum of natural disasters—such as hurricanes, earthquakes, typhoons, tsunamis, winter storms, freezes, floods, fires, windstorms, and tornadoes—as well as man-made events like explosions and acts of terrorism.…
Historical context
All RNR-PG earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.8% | +6.8% | Cboe posts strong Q3 as options growth and new products advance |
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.0% | NatWest maintains guidance as Q3 growth and capital remain strong |
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
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Sources
- Earnings call transcript and parsed analysis · 2026-07-23T20:04:09.752688+00:00
- FN2 earnings calendar · 2026-08-27T01:23:13.912278+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.