RenRe risk appetite rewarded with 'stellar' 3Q
Bermudian reinsurer Renaissance Re has reported net income of $251.1m in the third quarter of 2006 compared to a net loss of $287.3 m for the same quarter of 2005. Renaissance said the results benefited from light insured catastrophe loss activity compared to the third quarter of 2005 as well as a $31m net positive impact resulting from the commutation of certain assumed and ceded reinsurance contracts in the quarter.
Neill Currie, CEO, commented: "We are very pleased to report another strong quarter with record results. Our core property cat business generated exceptional earnings, and our book value per shareOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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