RenaissanceRe Holdings announced that its board of directors has declared a quarterly dividend of US$0.40 per common share. The dividend will be payable on June 30, 2025, to shareholders of record as of June 13, 2025.
Alongside the dividend declaration, the board also approved a renewal of the company’s authorized share repurchase program. The updated authorization brings the total amount available for repurchases to US$750 million, inclusive of remaining amounts from previous approvals.
According to the company, the repurchase program does not have a fixed expiration date but will remain in effect until the authorized amount has been fully utilized or until the board elects to terminate it.
RenaissanceRe also noted that it may conduct repurchases through both open market and privately negotiated transactions. Decisions regarding repurchases will be based on several factors, including the market price of the company’s common shares and overall capital requirements.
The dividend and buyback update follows RenaissanceRe’s recent first-quarter earnings release, which showed a significant decline in profitability due to catastrophe-related losses.
The company reported net income attributable to common shareholders of US$161.1 million, down from US$364.8 million in the same quarter last year. The quarter included a US$702.8 million after-tax loss, primarily linked to California wildfires.
Despite the loss, gross premiums written increased year over year, rising to US$4.16 billion from US$3.99 billion. However, the company’s combined ratio deteriorated to 128.3 from 77.9 in the prior-year period, signaling a substantial underwriting loss. The elevated combined ratio reflects the impact of catastrophe losses on overall underwriting performance.
“This quarter, we grew our primary metric, tangible book value per share plus accumulated dividends, against a backdrop of elevated natural catastrophe losses and significant macroeconomic volatility,” said Kevin J. O’Donnell (pictured above), president and chief executive officer.
Meanwhile, March also saw RenaissanceRe launching RenaissanceRe Medici UCITS Fund, an Irish-domiciled property catastrophe bond fund.
The fund operates as a sub-fund of RenaissanceRe Medici ICAV and is designed to provide European and global investors with access to the company’s catastrophe bond investment strategy within a European-regulated UCITS structure.
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