Financial Supplement June 2022

	RenaissanceRe Holdings Ltd.
	Contents
		Page
Basis of Presentation	i
Financial Highlights	1
Summary Consolidated Financial Statements
a.	Consolidated Statements of Operations	3
b.	Consolidated Balance Sheets	4
Underwriting and Reserves
a.	Consolidated Segment Underwriting Results	5
b.	Consolidated and Segment Underwriting Results - Five Quarter Trend	7
c.	Property Segment - Catastrophe and Other Property Underwriting Results	10
d.	Gross Premiums Written	12
e.	Net Premiums Written	13
f.	Net Premiums Earned	14
g.	Reserves for Claims and Claim Expenses	15
h.	Paid to Incurred Analysis	16
Managed Joint Ventures and Fee Income
a. Fee Income	17
b.	Fee income - Five Quarter Trend	18
c.	Noncontrolling Interests	19
d.	DaVinciRe Holdings Ltd. and Subsidiary Consolidated Statements of Operations	21
Investments
a.	Total Investment Result	22
b.	Investments Composition	24
c.	Managed Investments - Credit Rating	25
d.	Retained Investments - Credit Rating	26
Other Items
a.	Earnings per Share	27
Comments on Regulation G	28

RenaissanceRe Holdings Ltd.

Basis of Presentation

RenaissanceRe Holdings Ltd. (the "Company" or "RenaissanceRe") is a global provider of reinsurance and insurance that specializes in matching well-structured risks with efficient sources of capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, the Company has offices in Bermuda, Australia, Ireland, Singapore, Switzerland, the United Kingdom and the United States.

This financial supplement includes certain financial measures that are not calculated in accordance with generally accepted accounting principles in the U.S. ("GAAP") including "operating income (loss) available (attributable) to RenaissanceRe common shareholders," "operating income (loss) available (attributable) to RenaissanceRe common shareholders per common share - diluted," "operating retuon average common equity - annualized," "tangible book value per common share," "tangible book value per common share plus accumulated dividends," "retained total investment result," "retained investments, at fair value," "retained investments, unrealized gain (loss)" and "operating (income) loss attributable to redeemable noncontrolling interests." A reconciliation of such measures to the most comparable GAAP figures in accordance with Regulation G is presented in the attached supplemental financial data. See pages 28 through 35 for "Comments on Regulation G."

Cautionary Statement under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995; Statements made in this financial supplement contain information about the Company's future business prospects. These statements may be considered "forward-looking." These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. For further information regarding cautionary statements and factors affecting future results, please refer to RenaissanceRe Holdings Ltd.'s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.

All information contained herein is unaudited. Unless otherwise noted, amounts are in thousands of United States Dollars, except for share and per share amounts and ratio information. Certain prior period comparatives have been reclassified to conform to the current presentation. This supplement is being provided for informational purposes only. It should be read in conjunction with documents filed by RenaissanceRe with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 10- K and its Quarterly Reports on Form 10-Q. Please refer to the Company's website at www.renre.comfor further information about RenaissanceRe.

RenaissanceRe Holdings Ltd.

Financial Highlights

		Three months ended			Six months ended
		June 30,			June 30,			June 30,	June 30,
		2022			2021			2022	2021
Net income (loss) available (attributable) to RenaissanceRe common shareholders	$	(324,913)	$	456,818	$	(719,326)	$	165,884
Operating income (loss) available (attributable) to RenaissanceRe common shareholders (1)	$	238,132	$	278,050	$	390,077	$	282,445

Underwriting income
Gross premiums written	$	2,464,639	$	2,094,158	$	5,407,603	$	4,746,600
Net premiums written		1,863,616			1,512,292			4,028,833	3,336,375
Underwriting income (loss)		316,386			328,976			516,664	293,216

Net claims and claim expense ratio:
Current accident year	51.4 %	48.0 %	54.7 %	61.7 %
Prior accident years	(2.9)%		(4.4)%		(2.1)%	(2.6)%
Calendar year	48.5 %	43.6 %	52.6 %	59.1 %

Acquisition expense ratio	24.8 %	23.9 %	25.0 %	23.6 %
Operating expense ratio	5.0 %		4.9 %		4.8 %	4.8 %
Combined ratio	78.3 %	72.4 %	82.4 %	87.5 %

Fee income
Management fee income	$	30,707	$	31,970	$	57,929	$	60,494
Performance fee income		3,548			14,187			4,676	9,652
Total fee income	$	34,255	$	46,157	$	62,605	$	70,146

Investment Results - Managed
Net investment income	$	107,211	$	80,925	$	190,902	$	160,729
Net realized and unrealized gains (losses) on investments		(654,107)			191,018			(1,327,124)	(154,545)
Total investment result	$	(546,896)	$	271,943	$	(1,136,222)	$	6,184

Total investment retu- annualized		(10.1)%			5.2 %			(10.5)%	0.1 %

Investment Results - Retained (1)
Net investment income	$	74,983	$	62,982	$	137,658	$	125,580
Net realized and unrealized gains (losses) on investments		(576,071)			187,391			(1,160,694)	(131,297)
Total investment result	$	(501,088)	$	250,373	$	(1,023,036)	$	(5,717)

Total investment retu- annualized		(13.6)%			7.4 %			(13.9)%	(0.1)%

(1) See "Comments on Regulation G" for a reconciliation of non-GAAP financial measures.

Financial Highlights - Per Share Data & ROE

		Three months ended			Six months ended
		June 30,		June 30,			June 30,		June 30,
		2022		2021			2022		2021
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share -	$	(7.53)	$	9.36	$	(16.64)	$	3.36
basic
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share -	$	(7.53)	$	9.35	$	(16.64)	$	3.35
diluted
Operating income (loss) available (attributable) to RenaissanceRe common shareholders per common	$	5.51	$	5.64	$	8.99	$	5.73
share - diluted (1)

Book value per common share	$	113.69	$	139.35	$	113.69	$	139.35
Tangible book value per common share (1)	$	107.79	$	133.75	$	107.79	$	133.75
Tangible book value per common share plus accumulated dividends (1)	$	132.05	$	156.55	$	132.05	$	156.55
Change in tangible book value per common share plus change in accumulated dividends (1)		(6.4)%		6.7 %			(14.0)%		1.0 %

Average shares outstanding - basic		43,170		48,163			43,264		48,871
Average shares outstanding - diluted		43,170		48,226			43,264		48,940

Retuon average common equity - annualized		(25.1)%		27.6 %			(26.6)%		4.9 %
Operating retuon average common equity - annualized (1)		18.4 %		16.8 %			14.4 %		8.4 %

(1) See "Comments on Regulation G" for a reconciliation of non-GAAP financial measures.

Attachments

Disclaimer

RenaissanceRe Holdings Ltd. published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 20:44:28 UTC.