Reserve releases drive RenRe profits higher

RenaissanceRe reported an 18 percent uplift in third quarter
operating profits to $116.7mn as a 40 percent expansion in its net
earned premium base following the Platinum acquisition in the first
quarter outpaced rising losses and expenses.
Reserve releases also boosted the results, leaping up to $70.4mn
from $25.3mn a year earlier due largely to an increase in specialty
reserve improvements.
However, underwriting performance was slightly weaker
year-on-year, with the quarterly combined ratio mo