Earnings PerformanceGross premiums grew by 14%, falling short of the analyst's 21% estimate due to lower premiums within other property and casualty.
Tax Legislation ImpactNotable variances versus the analyst's estimate include a lower income tax rate related to recently enacted Bermuda tax legislation that will raise RenRe’s tax rate beginning January 1, 2025.
Valuation ConcernDespite improving fundamentals in global reinsurance markets, the analyst believes the stock's current 1.3x book value multiple appropriately reflects their ROE expectations.