RNR on NYSE

RenaissanceRe

Bermudian company

RenaissanceRe Holdings Ltd is a global provider of reinsurance and insurance that specializes in matching desirable risk with efficient capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, and headquartered in Bermuda, RenaissanceRe has offices across North America, Europe, and the Asia-Pacific region.3 Its shares trade on NYSE under the symbol RNR.1 Wikipedia text CC BY-SA 4.0

$354.00 down 0.33 (0.09%)Price as of Oct 21, 2026 at 18:59 UTC

Last updated Oct 21, 2026.

Overview

1993Founded1

Compare with Cincinnati Financial, W. R. Berkley or Markel Corporation, or pick any stock.

  • TickerRNR on NYSE1
  • IndustryFire, Marine & Casualty Insurance1
  • HeadquartersBermuda1
  • Websitewww.renre.com
  • Legal formprivate company limited by shares1
  • Incorporated inBermuda6
  • Business addressRenaissance House, 12 Crow Lane, Pembroke, D0 Hm196
  • Filer categoryLarge accelerated filer6
  • LEIEK6GB9U3U58PDI411C944
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressRenaissance House, HM 19 Hamilton, Bermuda4
  • Registered withRegistrar of Companies (Ministry of Economic Development), 183874

RenaissanceRe Holdings Ltd is a global provider of reinsurance and insurance that specializes in matching desirable risk with efficient capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, and headquartered in Bermuda, RenaissanceRe has offices across North America, Europe, and the Asia-Pacific region.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.9%Net margin8
9.9%Revenue growth, 20258
23.1%Return on equity8
0.20×Debt to equity8

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs76¢$9.8B
  • Income tax3¢$396.3M
  • Profit21¢$2.7B

Out of $12.8B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid2¢$74.8M
  • Share buybacks43¢$1.6B
  • Kept or used elsewhere55¢$2.0B

Out of $3.7B of cash from operations.8

Financial statements

Revenue91011128$12.8B in 2025+206% since 2019
0$5.0B$10.0B$15.0B2019: $4.2B$4.2B20192020: $5.2B$5.2B2020+23%2021: $5.3B$5.3B2021+2%2022: $5.1B$5.1B2022−4%2023: $9.1B$9.1B2023+81%2024: $11.7B$11.7B2024+28%2025: $12.8B$12.8B2025+10%
Net income91011128$2.7B in 2025+258% since 2019
-$2.0B-$1.0B0$1.0B$2.0B$3.0B2019: $748.8M$748.8M20192020: $762.4M$762.4M2020+2%2021: -$40.2M-$40.2M20212022: -$1.1B-$1.1B2022+2543%2023: $2.6B$2.6B20232024: $1.9B$1.9B2024−27%2025: $2.7B$2.7B2025+43%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Gross premiums written (Note 7)$11.7B$11.7B$8.9B
Net premiums written (Note 7)$9.9B$10.0B$7.5B
Decrease (increase) in unearned premiums$31.0M$143.5M$3.3M
Net premiums earned (Note 7)$9.9B$10.1B$7.5B
Net investment income (Note 5)$1.7B$1.7B$1.3B
Net foreign exchange gains (losses)-$13.5M-$76.1M-$41.5M
Equity in earnings (losses) of other ventures (Note 5)$71.3M$47.1M$43.5M
Other income (loss)$4.3M$1.9M-$6.2M
Net realized and unrealized gains (losses) on investments$1.2B-$27.8M$414.5M
Total revenues$12.8B$11.7B$9.1B
Net claims and claim expenses incurred (Notes 7 and 8)$5.6B$5.3B$3.6B
Acquisition expenses$2.6B$2.6B$1.9B
Operational expenses$464.5M$496.6M$375.2M
Corporate expenses$82.0M$134.8M$127.6M
Interest expense (Note 9)$120.9M$93.8M$73.2M
Total expenses$8.8B$8.7B$6.0B
Income (loss) before taxes$4.0B$3.0B$3.1B
Income tax benefit (expense) (Note 15)-$396.3M-$32.6M$510.1M
Net income (loss)$3.6B$3.0B$3.6B
Net (income) loss attributable to redeemable noncontrolling interests (Note 10)-$935.4M-$1.1B-$1.1B
Net income (loss) attributable to RenaissanceRe$2.7B$1.9B$2.6B
Dividends on preference shares (Note 12)-$35.4M-$35.4M-$35.4M
Net income (loss) available (attributable) to RenaissanceRe common shareholders$2.6B$1.8B$2.5B
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share basic (in dollars per share)$56.23$35.31$52.40
Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share diluted (in dollars per share)$56.03$35.21$52.27

Compare RenaissanceRe with another company

Corporate structure

RenaissanceRe sits at the top of its group. 47 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of RenaissanceRe

  • RenaissanceRe Hamilton, Bermuda
    • RenaissanceRe Ventures Ltd. Pembroke, Bermuda
    • AlphaCat Reinsurance Ltd. Subsidiary · Bermuda
    • DAVINCI REINSURANCE LTD. Subsidiary · Pembroke, Bermuda
    • DaVinciRe Holdings Ltd. Subsidiary · Bermuda
    • Fontana Holdings L.P. Subsidiary · Pembroke, Bermuda
    • Fontana Holdings U.S., Inc. Subsidiary · Delaware, United States
    • Fontana Reinsurance Ltd. Subsidiary · Bermuda
    • Fontana Reinsurance U.S. Ltd. Subsidiary · Pembroke, Bermuda
    • Mont Fort Re Ltd. Subsidiary · Bermuda
    • Renaissance Investment Holdings Ltd. Subsidiary · Pembroke, Bermuda
    • RENAISSANCE INVESTMENT MANAGEMENT COMPANY LIMITED Subsidiary · Pembroke, Bermuda
    • Renaissance Other Investments Holdings II Ltd. Subsidiary · Bermuda
    • Renaissance Other Investments Holdings Ltd. Subsidiary · Bermuda
    • RENAISSANCE REINSURANCE LTD. Subsidiary · Hamilton, Bermuda
      • RENAISSANCE REINSURANCE OF EUROPE DESIGNATED ACTIVITY COMPANY Subsidiary · Dublin, Ireland
    • Renaissance Reinsurance of Europe DAC Subsidiary · Ireland
    • Renaissance Reinsurance U.S. Inc. Subsidiary · Maryland, United States
    • RENAISSANCE SERVICES OF EUROPE LIMITED Subsidiary · Dublin, Ireland
    • Renaissance Underwriting Managers, Ltd. Subsidiary · Bermuda
    • RENAISSANCERE EUROPE AG Subsidiary · Zurich, Switzerland
    • RENAISSANCERE FINANCE INC. Subsidiary · Wilmington, Delaware, United States
      • RENAISSANCERE SPECIALTY U.S. LTD. Subsidiary · Pembroke, Bermuda
        • RENAISSANCE REINSURANCE U.S. INC. Subsidiary · New York, New York, United States
      • RENRE NORTH AMERICA EMPLOYEE SERVICES INC. Subsidiary · New York, New York, United States
      • RENRE NORTH AMERICA HOLDINGS INC. Subsidiary · Wilmington, New York, United States
    • RenaissanceRe Fund Holdings Ltd. Subsidiary · Bermuda
    • RENAISSANCERE FUND MANAGEMENT LTD. Subsidiary · Pembroke, Bermuda
      • RenaissanceRe Medici Fund Ltd. Fund · Pembroke, Bermuda
      • Segregated Account NOC1 Fund · Pembroke, Bermuda
      • Stratos Fund Segregated Account Fund · Pembroke, Bermuda
    • RenaissanceRe Medici Fund Ltd. Subsidiary · Bermuda
    • RenaissanceRe Risk Sciences Inc. Subsidiary · Virginia, United States
    • RenaissanceRe Services Ltd. Subsidiary · Pembroke, Bermuda
    • and 13 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What RenaissanceRe reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$15.6M8 Dec 31, 2025$16.1M8 Dec 31, 2024−3.1%
Operating-lease assets (leased space)$97.1M8 Dec 31, 2025$83.8M8 Dec 31, 2024+15.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.7B8 Dec 31, 2025$1.7B8 Dec 31, 2024+3.3%
Equity securities at fair value$1.7B8 Dec 31, 2025$117.8M8 Dec 31, 2024+1371.7%
Stakes in other companies (equity method)$121.9M8 Dec 31, 2025$102.8M8 Dec 31, 2024+18.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$332.7M8 Dec 31, 2025$403.8M8 Dec 31, 2024−17.6%
Accumulated amortization$271.8M8 Dec 31, 2025$200.7M8 Dec 31, 2024+35.4%

Properties, in its own words

We lease office space in Bermuda, which houses our headquarters and principal executive offices, as well as in other locations throughout the U.S. and in the U.K., Australia, Canada, Ireland, Singapore and Switzerland. We believe that our current office space is sufficient for us to conduct our operations, although our needs may change in the future. To date, the cost of acquiring and maintaining our office space has not been material to us as a whole.

Item 2 of the 10-K filed Feb 11, 2026.16

Leadership

Who has led RenaissanceRe, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (42)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • AlphaCat Reinsurance Ltd. Bermuda7
  • DaVinci Reinsurance Ltd. Bermuda7
  • DaVinciRe Holdings Ltd. Bermuda7
  • Fontana Holdings L.P. Bermuda7
  • Fontana Holdings U.S., Inc. Delaware7
  • Fontana Reinsurance Ltd. Bermuda7
  • Fontana Reinsurance U.S. Ltd. Bermuda7
  • Mont Fort Re Ltd. Bermuda7
  • RenRe Insurance Holdings Ltd. Bermuda7
  • RenRe North America Holdings Inc. Delaware7
  • Renaissance Investment Holdings Ltd. Bermuda7
  • Renaissance Investment Management Company Limited Bermuda7
  • Renaissance Other Investments Holdings II Ltd. Bermuda7
  • Renaissance Other Investments Holdings Ltd. Bermuda7
  • Renaissance Reinsurance Ltd. Bermuda7
  • Renaissance Reinsurance U.S. Inc. Maryland7
  • Renaissance Reinsurance of Europe DAC Ireland7
  • Renaissance Underwriting Managers, Ltd. Bermuda7
  • RenaissanceRe Europe AG Switzerland7
  • RenaissanceRe Finance Inc. Delaware7
  • RenaissanceRe Fund Holdings Ltd. Bermuda7
  • RenaissanceRe Fund Management Ltd. Bermuda7
  • RenaissanceRe Medici Fund Ltd. Bermuda7
  • RenaissanceRe Risk Sciences Inc. Virginia7
All 32 listed subsidiaries
  • RenaissanceRe Specialty Holdings (UK) Limited Bermuda7
  • RenaissanceRe Specialty U.S. Ltd. Bermuda7
  • RenaissanceRe Upsilon Co-Invest Fund Ltd. Bermuda7
  • RenaissanceRe Ventures Ltd. Bermuda7
  • Shima Reinsurance Ltd. Bermuda7
  • Top Layer Reinsurance Ltd. Bermuda7
  • Upsilon RFO Re Ltd. Bermuda7
  • Vermeer Reinsurance Ltd. Bermuda7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 22, 20268-K Results of operations70
  2. May 14, 20268-K Executive or director change; Regulation FD disclosure71
  3. May 6, 20268-K Executive or director change; Shareholder vote72
  4. Apr 28, 20268-K Results of operations73
  5. Feb 3, 20268-K Results of operations74
  6. Dec 22, 20258-K Entered a material agreement; New debt or obligation75
  7. Oct 28, 20258-K Results of operations76
  8. Jul 23, 20258-K Results of operations77
  9. Jun 3, 20258-K Regulation FD disclosure78
  10. May 8, 20258-K Shareholder vote79
  11. Apr 23, 20258-K Results of operations80
  12. Feb 27, 20258-K Other events81
  13. Mar 4, 2015New chief executive H. Elizabeth Mitchell becomes CEO17
  14. Jul 3, 2013New chief executive Kevin Odonnell becomes CEO18
  15. Mar 23, 2006New chief executive Neill A. Currie becomes CEO20
  16. Mar 14, 2006New chief executive William J. Ashley becomes CEO19
  17. 1993Founded Founded1

Calendar

Coming up

  1. Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $15.62 a share, on Oct 28, 2025.82

When it reported results

  1. Jul 22, 2026Reported quarterly or annual results70
  2. Apr 28, 2026Reported quarterly or annual results73
  3. Feb 3, 2026Reported quarterly or annual results74
  4. Oct 28, 2025Reported quarterly or annual results76
  5. Jul 23, 2025Reported quarterly or annual results77
  6. Apr 23, 2025Reported quarterly or annual results80
  7. Jan 28, 2025Reported quarterly or annual results83
  8. Nov 6, 2024Reported quarterly or annual results84

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

382 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 178 insider forms, 31 large holders, 94 other. The latest 20:

  1. Sep 3, 2026144 EDGAR
  2. Sep 3, 20264 EDGAR
  3. Aug 28, 2026N-PX EDGAR
  4. Aug 27, 20264 EDGAR
  5. Aug 26, 2026144 EDGAR
  6. Aug 25, 20264 EDGAR
  7. Aug 24, 2026144 EDGAR
  8. Aug 17, 2026144 EDGAR
  9. Aug 17, 20264 EDGAR
  10. Aug 7, 202613F-HR EDGAR
  11. Jul 28, 2026144 EDGAR
  12. Jul 28, 20264 EDGAR
  13. Jul 23, 202610-Q EDGAR
  14. Jul 22, 20268-K EDGAR
  15. Jun 25, 2026144 EDGAR
  16. Jun 24, 2026144 EDGAR
  17. Jun 3, 2026144 EDGAR
  18. May 19, 20264 EDGAR
  19. May 18, 2026144 EDGAR
  20. May 14, 2026SCHEDULE 13G/A EDGAR

The 382 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

42 open-market trades by officers, directors and large owners since October 2021: 8 buys and 34 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 3, 2026Curtis RossEVP,Chief Portfolio OfficerSale9,623$337.60$3.2MForm 4
Aug 26, 2026Curtis RossEVP,Chief Portfolio OfficerSale377$335.00$126.3KForm 4
Aug 24, 2026Curtis RossEVP,Chief Portfolio OfficerSale5,000$330.00$1.6MForm 4
Aug 17, 2026Curtis RossEVP,Chief Portfolio OfficerSale5,000$325.00$1.6MForm 4
Jul 28, 2026Qutub RobertEVP, Chief Financial OfficerSale5,000$333.03$1.7MForm 4
May 18, 2026Sanders Carol PDirectorSale1,479$297.36$439.8KForm 4
Feb 6, 2026Qutub RobertEVP, Chief Financial OfficerSale5,000$305.75$1.5MForm 4
Feb 5, 2026Curtis RossEVP,Chief Portfolio OfficerSale5,000$305.00$1.5MForm 4
Feb 4, 2026Curtis RossEVP,Chief Portfolio OfficerSale15,000$295.00$4.4MForm 4
Aug 12, 2025BUSHNELL DAVID CDirectorSale5,844$240.49$1.4MForm 4
Jul 16, 2025Marra David EEVP,Chief Underwriting OfficerSale1,000$237.38$237.4KForm 4
May 8, 2025Fraser James ChristopherSVP, Chief Accounting OfficerSale13,668$250.55$3.4MForm 4
May 7, 2025Fraser James ChristopherSVP, Chief Accounting OfficerSale332$249.54$82.8KForm 4
Jan 15, 2025Marra David EEVP,Chief Underwriting OfficerSale1,000$254.16$254.2KForm 4
Nov 18, 2024Klehm Henry IIIDirectorSale1,747$257.61$450.0KForm 4
Nov 14, 2024Marra David EEVP,Chief Underwriting OfficerSale1,000$260.00$260.0KForm 4
Oct 4, 2024Marra David EEVP,Chief Underwriting OfficerSale1,000$279.00$279.0KForm 4
Sep 26, 2024Marra David EEVP,Chief Underwriting OfficerSale1,000$269.00$269.0KForm 4
Aug 29, 2024Marra David EEVP,Chief Underwriting OfficerSale750$259.00$194.2KForm 4
Aug 23, 2024Marra David EEVP,Chief Underwriting OfficerSale750$249.00$186.8KForm 4

All 42 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Kevin J. O’DonnellPresident and Chief Executive Officer$1.3M$13.0M95
2025David MarraExecutive Vice President and Group Chief Underwriting Officer$900.0K$5.8M95
2025Robert QutubExecutive Vice President and Chief Financial Officer$768.8K$5.3M95
2025Ross A. CurtisExecutive Vice President and Chief Portfolio Officer$762.5K$5.0M95
2025Shannon L. BenderExecutive Vice President, Group General Counsel and Corporate Secretary$600.0K$4.1M95
2024Kevin J. O’DonnellPresident and Chief Executive Officer$1.2M$11.7M95
2024David MarraExecutive Vice President and Group Chief Underwriting Officer$733.3K$5.1M95
2024Robert QutubExecutive Vice President and Chief Financial Officer$675.0K$4.8M95
2024Ross A. CurtisExecutive Vice President and Chief Portfolio Officer$725.0K$4.7M95
2024Shannon L. BenderExecutive Vice President, Group General Counsel and Corporate Secretary$600.0K$3.6M95
2023Kevin J. O’DonnellPresident and Chief Executive Officer$1.2M$23.7M95
2023Ross A. CurtisExecutive Vice President and Chief Portfolio Officer$725.0K$6.0M95
2023Robert QutubExecutive Vice President and Chief Financial Officer$668.8K$5.9M95
2023David MarraExecutive Vice President and Group Chief Underwriting Officer$693.8K$4.8M95
2023Shannon L. BenderExecutive Vice President, Group General Counsel and Corporate Secretary$545.8K$4.3M95

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Dec 28, 2021Bill HagertyRepublican, SenatePartial sale$250,001 - $500,000−39.3%Report
Dec 23, 2021Bill HagertyRepublican, SenatePartial sale$250,001 - $500,000−41.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How RenaissanceRe is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRENAISSANCERE HOLDINGS LTD2
  • CIK0000913144
  • Employer ID (EIN)98-014197416
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company16
  • Incorporated inBermuda16
  • Fiscal year endsDecember 312
  • Industry code (SIC)6331 Fire, Marine & Casualty Insurance2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business addressRenaissance House, 12 Crow Lane, Pembroke, D0 HM192
  • Phone44129545132
  • Shares outstanding41,551,893 as of Jul 20, 202614
  • Public float$11.3B as of Jun 30, 202516
  • AuditorPricewaterhouseCoopers Ltd., Hamilton, Bermuda PCAOB ID 1403; it also attests to the company’s internal control over financial reporting16
  • On EDGAR sinceMay 14, 19962
  • Filings2,242 in all: 4 (1,238), 8-K (338), SC 13G/A (110), 10-Q (92), 3 (40), SC 13G (35), 144 (32), DEF 14A (32)2
    All 52 form types

    DEFA14A (32), 10-K (30), 13F-HR (27), ARS (23), 424B5 (20), 424B2 (13), CORRESP (13), UPLOAD (13), FWP (12), S-3ASR (12), S-3 (10), S-8 (9), 8-A12B (8), 8-K/A (8), S-3/A (8), 425 (7), 5 (7), SCHEDULE 13G/A (7), 4/A (6), POSASR (6), PRE 14A (6), S-8 POS (6), 25-NSE (5), 424B1 (5), 305B2 (4), CERTNYS (3), N-PX (3), SCHEDULE 13G (3), 424B3 (2), CERT (2), S-4 (2), 10-K/A (1), 10-Q/A (1), 144/A (1), 3/A (1), D (1), DEFR14A (1), EFFECT (1), NT 10-K (1), POS AM (1), PRER14A (1), S-4/A (1), SC 13E4 (1), SC 13E4/A (1)

  • Latest filingsAnnual report (10-K) Feb 11, 2026
    Quarterly report (10-Q) Jul 23, 2026
    Proxy statement (DEF 14A) Mar 18, 2026
    Latest 8-K (8-K) Jul 22, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, Par Value $1.00 per shareRNRNew York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a Series F 5.750% Preference Share, Par Value $1.00 per shareRNR PRFNew York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a Series G 4.20% Preference Share, Par Value $1.00 per shareRNR PRGNew York Stock Exchange

From the cover page of the 10-K filed Feb 11, 2026 (Section 12(b) of the Exchange Act).16

Risk factors and legal proceedings

The risks RenaissanceRe names in Item 1A of its 10-K filed Feb 11, 2026: 34 risks under these headings, as written.16

  • Risks Related to our (Re)insurance Business
  • Our exposure to natural and non-natural catastrophic events and circumstances could cause significant variance in, or adversely impact, our financial results.
  • The trend towards increasingly frequent and severe climate events could exacerbate our potential exposure to losses from natural perils.
  • Our claims and claim expense reserves are subject to inherent uncertainties, and if actual claims exceed our reserves, our financial results could be adversely affected.
  • Emerging claim and coverage issues, or other litigation, could adversely affect us.
  • We depend on a few insurance and reinsurance brokers for a preponderance of our business, and any loss of business provided by them could adversely affect us.
  • The (re)insurance industry is historically cyclical and the pricing and terms for our products may decline, which would affect our profitability and ability to maintain or grow premiums.
  • Retrocessional reinsurance may not be available to us on acceptable terms or provide the coverage we intended to obtain, or we may not be able to collect on claimed retrocessional coverage.
  • We are exposed to the procedures and expertise of ceding companies and delegated authority counterparties, who may fail to accurately assess the risks they underwrite, which exposes us to operational and financial risks.
  • A decline in our financial strength ratings may adversely impact our business, perhaps materially.
  • We operate in a highly competitive environment.
  • Large non-recurring contracts and reinstatement premiums may increase the volatility of our financial results.
The other 23 risks
  • Risks Related to our Strategy and Operations
  • The loss of key senior members of management and the inability to attract and retain qualified personnel could adversely affect us.
  • The preparation of our consolidated financial statements requires us to make many estimates and judgments.
  • We are exposed to risks in connection with our management of capital on behalf of investors in joint ventures or other entities we manage.
  • We are subject to cybersecurity risks, which may harm our business or reputation, and which could have an adverse effect on our business strategy, results of operations, or financial condition.
  • We may from time to time modify our business and strategic plan, and these changes could adversely affect us and our financial condition.
  • The covenants in our debt agreements limit our financial and operational flexibility, which could have an adverse effect on our financial condition.
  • The determination of impairments taken is highly subjective and could materially impact our financial condition or results of operations.
  • Risks Related to the Economic Environment
  • A decline in our investment performance could reduce our profitability and capital resources.
  • We may be adversely impacted by inflation.
  • We are exposed to counterparty credit risk, which could increase our liabilities and reduce liquidity.
  • We may be affected by adverse economic factors outside of our control, including a weaker macroeconomic environment, and international socio-political and geopolitical events.
  • We may be adversely affected by foreign currency fluctuations.
  • We may require additional capital in the future, which may not be available or may only be available on unfavorable terms.
  • Risks Related to Legal and Regulatory Matters
  • The regulatory systems under which we operate could restrict our ability to operate, increase our costs, or otherwise adversely impact us.
  • We face risks related to changes in Bermuda law and regulations, and the political environment in Bermuda.
  • Political, regulatory and industry initiatives by state and international authorities could adversely affect our business.
  • Our business may be affected by governmental and societal responses to climate-related matters.
  • Risks Related to Taxation
  • Our Bermuda subsidiaries may be subject to U.S. corporate income tax.
  • Certain U.S. tax provisions could reduce our access to capital, decrease demand for our products, impact our shareholders or investors in our joint ventures or other entities we manage or otherwise adversely affect us.
  • The OECD and the jurisdictions in which we operate may pursue measures that might increase our taxes and reduce our net income and increase our reporting requirements.
  • Risks Related to the Ownership of our Securities
  • Because we are a holding company, we are dependent on capital distributions from our subsidiaries.
  • Some aspects of our corporate structure may discourage third-party takeovers and other transactions or prevent the removal of our current board of directors and management.
  • Investors may have difficulty in serving process or enforcing judgments against us in the U.S.

Legal proceedings

The information required by this Item relating to legal proceedings is incorporated herein by reference to information included in “Note 20. Commitments, Contingencies and Other Items” in our “Notes to the Consolidated Financial Statements.”

The opening of Item 3, Legal Proceedings.16

Sources

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  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
  77. 77
  78. 78
  79. 79
  80. 80
  81. 81
    SEC EDGAROther events
  82. 82
  83. 83
  84. 84
  85. 85
  86. 86
  87. 87
  88. 88
  89. 89
  90. 90
  91. 91
  92. 92
  93. 93
  94. 94
  95. 95