RenRe tops forecasts on low cat quarter

Bermudian (re)insurer RenaissanceRe delivered operating income of
$2.79 per diluted common share in the second quarter, comfortably
exceeding analysts' consensus of $2.40 per share.
The result was also significantly ahead of the $1.55 earnings
per share RenRe posted in the prior-year period.
The company also reported a double-digit operating return on
equity of 10.0 percent for the period, up 3.9 percentage
points.
The result was entirely buoyed by an improved underwriting
performance as net inv