RenaissanceRe leads Q1 reinsurance misses as sector revenues fall short

Earnings
โดย Yahoo Finance·Read original
Summary · why it matters

RenaissanceRe reported first-quarter revenues of $2.19 billion, down 36.8% year on year and missing analyst estimates by 21.4%, the weakest performance among six tracked reinsurance stocks. The group as a whole saw revenues miss consensus by 1.4%, though share prices have risen an average of 10.4% since reporting. Hamilton Insurance Group posted the biggest beat with revenues of $758.9 million, topping expectations by 14.1%, while Reinsurance Group of America achieved the fastest revenue growth at 24.3% to $6.64 billion. AXIS Capital and Everest Group both fell short of analyst forecasts, with revenues of $1.67 billion and $4.07 billion respectively.

Impact on stocks 5

Financials± Mixed · 3 stocks
Hamilton Insurance Group, Ltd.
HG
▲ PositiveCapitalrelevance

Hamilton Insurance Group posted the biggest beat with revenues of $758.9 million, topping expectations by 14.1%.

Climate Adaptation & Water · 2 stocks
Renaissancere Holdings Ltd
RNR
▼ NegativeCapitalrelevance

RenaissanceRe reported Q1 revenues of $2.19 billion, down 36.8% YoY and missing estimates by 21.4%, the weakest among tracked peers.

Everest Group Ltd
EG
▼ NegativeCapitalrelevance

Everest Group fell short of analyst forecasts with $4.07 billion in revenue.