RenRe misses as specialty reinsurance underwriting deteriorates

RenaissanceRe reported operating profits that almost halved to
$66.3mn for the first quarter as its bottom line was hit by
deteriorating underwriting performance in its specialty reinsurance
business.
At $1.51 a share, operating profits were well below Wall Street
analysts' consensus forecasts of $2.69 a share.
The Bermudian's CEO Kevin O'Donnell said that while its
cat reinsurance segment had benefited from low loss activity, the
carrier had experienced an "unusually large aggregation"
of event