Kevin O’Donnell, chief executive officer, RenRe, said: “I am pleased to report $135 million of operating income, an annualised operating return on equity (ROE) of 12.5 percent and 2.3 percent growth in tangible book value per share plus accumulated dividends for the quarter. In a year in which we acquired and fully integrated Platinum, we generated solid operating income of $477.7 million for the year and delivered an operating ROE of 11.4 percent.”
O’Donnell also said RenRe’s underwriting team executed well during the most recent renewal period, as pressure on pricing from abundant capacity persisted.
“We maintained discipline, coming off business that did not meet our return hurdles, buying more reinsurance protection, while also building an attractive portfolio of risks,” he said.
via Intelligent Insurer