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RenaissanceRe Reports Net Income Of $268.7 Million For The Fourth Quarter Of 2013 Or $6.05 Per Diluted Common Share; Quarterly Operating Income Of $206.8 Million Or $4.64 Per Diluted Common Share

Stocks in this article: RNR

RenaissanceRe Holdings Ltd. (NYSE:RNR) today reported net income available to RenaissanceRe common shareholders of $268.7 million, or $6.05 per diluted common share in the fourth quarter of 2013, compared to $41.7 million, or $0.87 per diluted common share in the fourth quarter of 2012. Operating income available to RenaissanceRe common shareholders was $206.8 million, or $4.64 per diluted common share for the fourth quarter of 2013, compared to $31.0 million or $0.65, respectively, in the fourth quarter of 2012. The Company reported an annualized return on average common equity of 31.5% and an annualized operating return on average common equity of 24.3% in the fourth quarter of 2013, compared to 5.2% and 3.9%, respectively, in the fourth quarter of 2012. Book value per common share increased $5.71, or 7.7%, in the fourth quarter of 2013 to $80.29, compared to a 0.1% decrease in the fourth quarter of 2012. Tangible book value per common share plus accumulated dividends increased 8.1% in the fourth quarter of 2013, compared to a 0.3% increase in the fourth quarter of 2012.

For 2013, the Company reported net income available to RenaissanceRe common shareholders of $665.7 million, or $14.87 per diluted common share, compared to $566.0 million, or $11.23 per diluted common share in 2012. Operating income available to RenaissanceRe common shareholders was $630.6 million, or $14.08 per diluted common share for 2013, compared to $402.4 million, or $7.93 per diluted common share in 2012. The Company reported a return on average common equity of 20.5% and an operating return on average common equity of 19.4% in 2013, compared to 17.7% and 12.6%, respectively, in 2012. Book value per common share increased $12.15, or 17.8%, in 2013 to $80.29, compared to an increase of 15.0% in 2012. Tangible book value per common share plus accumulated dividends increased 19.7% in 2013, compared to a 17.0% increase in 2012.

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