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Combined Ratio by Segment
Measures underwriting profitability by adding loss and expense ratios for each segment; a ratio below 100% means underwriting profit, above 100% means an underwriting loss. Segment-level combined ratios reveal which lines are profitable, where reserving or claims trends are pressuring margins, and how well Renaissancere controls underwriting discipline.The story is divergence: Property has become a high‑margin engine (very low adjusted combined ratios recently) after prior favorable development and selective deployment into Property Cat, while Casualty & Specialty sits near break‑even with persistent mid‑to‑high‑90s/low‑100s combined ratios. Management’s move to add Property Cat capacity and raise reinsurance/trim social‑inflation exposure in Casualty explains the split—but episodic reserve/cat volatility (the large spike in early‑2025) and rising operating expenses mean underwriting gains may be lumpy going forward.
Date | Property | Casualty & Speciality |
|---|---|---|
Jun 30, 2026 | 27.10 | 103.30 |
Mar 31, 2026 | 34.10 | 100.40 |
Dec 31, 2025 | 21.80 | 103.50 |
Sep 30, 2025 | 15.50 | 101.40 |
Jun 30, 2025 | 27.40 | 101.80 |
Mar 31, 2025 | 148.70 | 111.10 |
Dec 31, 2024 | 71.60 | 103.70 |
Sep 30, 2024 | 60.30 | 100.10 |
Jun 30, 2024 | 53.90 | 98.20 |
Mar 31, 2024 | 42.90 | 99.60 |