RenaissanceRe Holdings Ltd. reported a 27 percent decline in net income for the first quarter of 2008 compared to the first quarter of 2007 due to lower net investment income and a decline in premiums written.
The Bermuda-based reinsurer said its net income was $147.7 million for 2008, compared to $201.9 in 2007.
Net written premiums declined in the first quarter of 2008 to $403.1 million from $571 million in 2007. This included a decline in reinsurance from $476.2 million in 2007 to $342.9 million in 2008, and a decline in individual risk from $94.8 million in 2007 to $60.2 million in 2008. RenaissanceRe attributed this decline largely to the softening market conditions.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
