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International

Catastrophes can't stop RenaissanceRe's net income rise

July 27, 2016 Reprints

Bermudian reinsurer RenaissanceRe Holdings Ltd. posted an increase in net income for the second quarter of 2016, despite taking a hit of more than $60 million from catastrophe claims, The Royal Gazette reported.

RenRe's net income totaled $136.3 million in the quarter, up from $73.2 million in the corresponding period of 2016. RenRe's gross premiums written increased 14.7% year on year to $759.1 million in the second quarter. Texas storms and the Alberta wildfires in the quarter cost the reinsurer $32.8 million and $28.1 million, respectively.

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Catastrophes can't stop RenaissanceRe's net income rise

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