This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

RenaissanceRe's Management Presents At Morgan Stanley Financials Conference (Transcript)

Okay. Just in terms of introduction for those of you who are not familiar with RenaissanceRe or is familiar either -- not at all familiar or not as familiar as you’d like to be. RenaissanceRe is a leading and global provider of reinsurance and insurance coverages, through essentially three main underwriting units within company, our property cat unit, specialty reinsurance unit and then our Lloyd’s syndicate in London.

RenRe was established in 1993 in Bermuda after Hurricane Andrew and although, we fluctuate a bit from time to time, the current market cap is about $3.9 billion. The company has achieved an operating ROE that’s averaged 22% since our inception and our tangible book value per share plus accumulated dividends which is the primary financial metric upon which we focus has grown at a compound annual rate of 20% since inception of the company.

The company posses very high financial strength ratings from S&P, Moody’s and A.M. Best, with stable outlooks and also importantly an excellent ERM ratio -- rating from S&P. These are very important to business and business strategy.

So just looking at our business model at the highest level, our mission is to produce superior returns for our shareholder over the long-term. We are not at all confused who we work for.

Our vision is to be a leader in select financial services, are areas where we believe we understand risk extremely well. We intend to fulfill our mission envision by pursuing an identity of being and being recognized as the best underwriter in the world.

So admittedly, that’s a pretty presumptuous statement. It’s not meant to sound the arrogant to be full of hubris, it’s really meant to reflect an aspirational goal for ourselves and that we can’t rely on past successes to achieve success in the future. We also that our competitors are getting better all the time and we have to consistently build and hone the skills that allow us to underwrite risk better than our peers.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs