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Bermuda: RenaissanceRe profit falls 60%

Posted On: Nov. 6, 2014 12:00 AM CST

Bermuda-based reinsurer RenaissanceRe Holdings Ltd.'s profit for the third quarter of 2014 totaled $67.8 million, a year-on-year plunge of $111.9 million, The Royal Gazette reports.

RenRe's operating income totaled $98.9 million while its underwriting income reached $104.8 million for the same period. Meanwhile, the reinsurer recorded a 10% year-on-year increase in gross premium income to $201 million.

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