RenaissanceRe Holdings Ltd Dossier
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SectorFinancials IndustryInsurance - Reinsurance Beta (adjusted)0.44 Intrinsic Value $287.21median of 2 methodsbased on filings through 30 Jun 2026 Market Price $322.99Price as of 1 Oct 2026 Near fair valueIntrinsic value is 11% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $13.4B Enterprise Value $14.4B Shares Outstanding 40.7M diluted Next Earnings Date3 Nov 2026 Last ex-dividend15 Sep 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary RenaissanceRe entered the second half of 2026 with strong consolidated underwriting profitability, a 20.1% annualized operating return on average common equity and continued tangible book-value growth. Its underwriting, fee and investment-income model provides meaningful earnings diversification, while substantial share repurchases can enhance per-share compounding. These strengths are balanced by a 103.3% Casualty and Specialty combined ratio, adverse prior-year development in that segment and material contraction in written premiums as management reduces exposure and purchases more retrocession. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$304.00 Mean target$346.40 High · most bullish analyst$438.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $304.0024% A normalization of catastrophe losses combines with further casualty reserve strengthening, while rate pressure and lower retained premiums reduce underwriting leverage. Investment-market volatility and weaker performance fees then interrupt tangible book-value growth despite capital returns. Base CaseCentral scenario $346.4055% Matches the consensus meanConsolidated underwriting remains profitable and diversified earnings support book-value compounding, but softer property pricing, declining premium volume and continued casualty reserve caution limit upside. Bull CaseUpside scenario $438.0021% Property underwriting remains highly profitable, catastrophe activity stays contained, investment and fee income remain resilient, and repurchases below intrinsic value accelerate tangible book-value growth. Better casualty pricing and portfolio remediation eventually return the Casualty and Specialty segment below a 100% combined ratio. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |