Upside case
Bull case
$692+128.8%
RNR would need investors to value it at roughly 18x earnings — about 10x more generous than today's 8x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated May 1, 2026
RenaissanceRe Holdings Ltd. (RNR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
28
analysts
7 bullish · 2 bearish · 28 covering RNR
Strong Buy
0
Buy
7
Hold
19
Sell
2
Strong Sell
0
Consensus Target
$308
+1.9% vs today
Scenario Range
— – $692
Model bear to bull value window
Coverage
28
Published analyst ratings
Valuation Context
7.7x
Forward P/E · Market cap $13.1B
RNR price targets
Three scenarios for where RNR stock could go
Current
~$303
Confidence
35 / 100
Updated
May 1, 2026
Where we are now
Current · $303
Base
$585
Bull
$692
Market caseClosest to today
Base case
$585+93.3%
At 15x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
RenaissanceRe Holdings Ltd.
RNR · NYSEFinancial ServicesInsurance - ReinsuranceDecember year-end
RenaissanceRe is a global reinsurer that provides catastrophe insurance and reinsurance coverage to other insurance companies. It generates revenue primarily through property catastrophe reinsurance — covering events like hurricanes and earthquakes — and casualty/specialty reinsurance, with premiums from these segments driving its earnings. The company's competitive advantage lies in its sophisticated risk modeling capabilities and deep expertise in catastrophe risk, allowing it to price complex risks that many competitors avoid.
Market Cap
$13.1B
Revenue TTM
$11.5B
Net Income TTM
$3.1B
Net Margin
26.9%
RNR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
50%Exceptional
vs consensus estimates
Avg EPS Surprise
+23.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$12.29/$10.28
Revenue
$3.2B/$2.0B
Q4 2025
EPS
$15.62/$9.97
Revenue
$3.2B/$2.3B
Q1 2026
EPS
$13.34/$10.42
Revenue
$1.6B/$2.0B
Q2 2026
EPS
$13.75/$11.07
Revenue
$2.7B/$2.8B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $12.29/$10.28 | +19.6% | $3.2B/$2.0B | +55.9% |
| Q4 2025 | $15.62/$9.97 | +56.7% | $3.2B/$2.3B | +36.6% |
| Q1 2026 | $13.34/$10.42 | +28.0% | $1.6B/$2.0B | -21.3% |
| Q2 2026 | $13.75/$11.07 | +24.2% | $2.7B/$2.8B | -5.8% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$13.1B
+13.7% YoY
FY2
$15.4B
+18.0% YoY
EPS Outlook
FY1
$84.52
+16.4% YoY
FY2
$109.45
+29.5% YoY
Trailing FCF (TTM)$4.2B
FCF Margin: 36.7%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
RNR beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
RNR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $9.9B
Product Mix
Latest annual revenue by segment or product family
Casualty and Specialty Segment
59.9%
-5.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Casualty and Specialty Segment is the largest disclosed segment at 59.9% of FY 2025 revenue, down 5.1% YoY.
RNR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $461 — implies +54.0% from today's price.
Upside to Fair Value
54.0%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
RNR
5.3x
vs
S&P 500
25.2x
79% discount
vs Financial Services Trailing P/E
RNR
5.3x
vs
Financial Services
13.4x
60% discount
vs RNR 5Y Avg P/E
Today
5.3x
vs
5Y Average
5.3x
In line with benchmark
Forward PE
7.7x
S&P 500
19.1x
-60%
Financial Services
10.5x
-27%
5Y Avg
—
—
Trailing PE
5.3x
S&P 500
25.2x
-79%
Financial Services
13.4x
-60%
5Y Avg
5.3x
+2%
PEG Ratio
0.18x
S&P 500
1.75x
-90%
Financial Services
1.03x
-83%
5Y Avg
—
—
EV/EBITDA
3.4x
S&P 500
15.3x
-78%
Financial Services
11.4x
-70%
5Y Avg
3.5x
-2%
Price/FCF
3.5x
S&P 500
21.3x
-83%
Financial Services
10.6x
-67%
5Y Avg
4.5x
-21%
Price/Sales
1.0x
S&P 500
3.1x
-67%
Financial Services
2.3x
-55%
5Y Avg
1.2x
-17%
Dividend Yield
0.55%
S&P 500
1.88%
-71%
Financial Services
2.68%
-79%
5Y Avg
0.74%
-25%
| Metric | RNR | S&P 500 | Financial Services | 5Y Avg RNR |
|---|---|---|---|---|
| Forward PE | 7.7x | 19.1x-60% | 10.5x-27% | — |
| Trailing PE | 5.3x | 25.2x-79% | 13.4x-60% | 5.3x |
| PEG Ratio | 0.18x | 1.75x-90% | 1.03x-83% | — |
| EV/EBITDA | 3.4x | 15.3x-78% | 11.4x-70% | 3.5x |
| Price/FCF | 3.5x | 21.3x-83% | 10.6x-67% | 4.5x-21% |
| Price/Sales | 1.0x | 3.1x-67% | 2.3x-55% | 1.2x-17% |
| Dividend Yield | 0.55% | 1.88% | 2.68% | 0.74% |
RNR trades above S&P 500 benchmarks on 0 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolRNR Financial Health
Verdict
Exceptional
RNR posts 26.9% net margin with 16.6% ROE — the core signals of underwriting discipline and capital efficiency.
Underwriting & Earnings
Premium revenue, margins, and returns
Revenue (TTM)
Trailing-twelve-month sales base
$11.5B
Revenue Growth
TTM vs prior year
-8.2%
Operating Margin
Operating income divided by revenue
35.5%
Net Margin
Net income divided by revenue
26.9%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$72.58
ROE
Return on equity — measures underwriting and investment efficiency
16.6%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
16.0%
ROA
Return on assets, trailing twelve months
5.7%
Cash & Equivalents
Liquid assets on the balance sheet
$1.7B
Net Debt
Total debt minus cash
$598M
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity, trailing twelve months
16.6%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
12.8%
Dividend
0.6%
Buyback
12.2%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.6B
Dividend / Share
Annualized trailing dividend per share
$1.67
Payout Ratio
Share of earnings distributed as dividends
2.8%
Shares Outstanding
Declining as buybacks retire shares
43M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageRNR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Financial and Corporate Risks
Financial and corporate risks account for 46% of RNR's reported risks. Fluctuations in interest rates and credit spreads can significantly impact the market value of RNR's fixed maturity investments, while volatility in global financial markets can affect the value of its investment portfolio.
High Risk
Catastrophic Events
RNR is significantly exposed to natural and non-natural catastrophic events, which can lead to substantial volatility in its financial results. The property-catastrophe business is a major part of RNR's operations, increasing its vulnerability to sectoral pressures.
Medium
Legal and Regulatory Risks
Legal and regulatory risks represent 26% of RNR's reported risks. Changes in regulations or legal interpretations can adversely affect the company's operations and profitability.
Medium
Underwriting and Operational Risks
Risks related to claims reserving processes and the accuracy of risk assessments by ceding companies are critical. Large non-recurring contracts and reinstatement premiums can contribute to financial result volatility.
Medium
Competitive Landscape
The highly competitive reinsurance industry poses risks to RNR regarding pricing power and margins. Competition from alternative capital sources can further pressure the company's market position.
Lower
Acquisition Integration
Integrating acquisitions, such as the Validus Acquisition, presents risks that could impact future financial performance and cash flows.
Lower
Reliance on Intermediaries
RNR's reliance on a small number of brokers poses a risk, as any disruptions in these relationships could affect business operations.
Lower
Climate Change
The increasing frequency and severity of climate events due to climate change represent a risk to RNR's business operations and financial stability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why RNR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Underwriting Excellence
RenaissanceRe emphasizes underwriting discipline, utilizing proprietary modeling and advanced analytics to secure favorable terms and margins. This focus on data-driven underwriting is expected to support earnings and investment returns.
Diversified Business Model
The company operates across property, casualty, and specialty reinsurance segments, with a growing fee income from its Capital Partners business. This diversification helps in generating resilient earnings.
Capital Management and Share Buybacks
RenaissanceRe's capital management strategies, including share buybacks, are seen as important for enhancing earnings per share, particularly when the stock trades below its intrinsic value.
Strong Financial Performance
The company has demonstrated strong premium growth in recent years, driven by its Property and Casualty segments. It also boasts favorable return metrics, with a high return on equity and return on invested capital compared to industry averages.
Consistent Dividend Increases
RenaissanceRe has achieved consistent annual increases in its dividend, reflecting its strong financial health and commitment to returning value to shareholders.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
RNR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$302.63
52W Range Position
82%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$231.17
+30.9% from the low
52-Week High
$318.20
-4.9% from the high
1 Month
+0.54%
3 Month
+0.69%
YTD
+11.2%
1 Year
+22.2%
3Y CAGR
+13.0%
5Y CAGR
+13.1%
10Y CAGR
+10.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
RNR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
7.7x
vs 9.5x median
-19% below peer median
Revenue Growth
+13.7%
vs +8.7% median
+58% above peer median
Net Margin
26.9%
vs 13.8% median
+95% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
RNR RNR RenaissanceRe Holdings Ltd. | $13.1B | 7.7x | +13.7% | 26.9% | Hold | +1.9% |
EVR EVR Evercore Inc. | $13.2B | 17.6x | +27.8% | — | Buy | +14.8% |
PRE PRE Prenetics Global Limited | $242M | — | +69.0% | -67.4% | Buy | +126.4% |
ACG ACGL Arch Capital Group Ltd. | $33.7B | 10.1x | +8.4% | 22.1% | Buy | +9.8% |
AXS AXS AXIS Capital Holdings Limited | $7.3B | 7.5x | +7.1% | 16.2% | Buy | +24.7% |
GLR GLRE Greenlight Capital Re, Ltd. | $606M | 8.9x | +8.7% | 11.5% | Buy | — |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
RNR Dividend and Capital Return
RNR returns capital mainly through $1.6B/year in buybacks (12.2% buyback yield), with a modest 0.55% dividend — combining for 12.8% total shareholder yield. The dividend has grown for 28 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
12.8%
Dividend + buyback return per year
Buyback Yield
12.2%
Dividend Yield
0.55%
Payout Ratio
2.8%
How RNR Splits Its Return
Buyback 12.2%
Dividend 0.55%Buybacks 12.2%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.67
Growth Streak
Consecutive years of dividend increases
28Y
3Y Div CAGR
2.6%
5Y Div CAGR
2.7%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.6B
Estimated Shares Retired
5M
Approx. Share Reduction
12.2%
Shares Outstanding
Current diluted share count from the screening snapshot
43M
At 12.2%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.41 | — | — | — |
| 2025 | $1.60 | +2.6% | 12.7% | 13.3% |
| 2024 | $1.56 | +2.6% | 5.2% | 5.9% |
| 2023 | $1.52 | +2.7% | 0.2% | 1.0% |
| 2022 | $1.48 | +2.8% | 2.1% | 2.9% |
FAQ
7 questionsRNR Investor Questions
Common questions answered from live analyst data and company financials.
01Is RenaissanceRe Holdings Ltd. (RNR) stock a buy or sell in 2026?
RenaissanceRe Holdings Ltd. (RNR) is rated Hold by Wall Street analysts as of 2026. Of 28 analysts covering the stock, 7 rate it Buy or Strong Buy, 19 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $308, implying +1.9% from the current price of $303.
02What is the RNR stock price target for 2026?
The Wall Street consensus price target for RNR is $308 based on 28 analyst estimates. The high-end target is $340 (+12.3% from today), and the low-end target is $267 (-11.8%). The base case model target is $585.
03Is RenaissanceRe Holdings Ltd. (RNR) stock overvalued in 2026?
RNR trades at 7.7x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for RenaissanceRe Holdings Ltd. (RNR) stock in 2026?
The primary risks for RNR in 2026 are: (1) Financial and Corporate Risks — Financial and corporate risks account for 46% of RNR's reported risks. (2) Catastrophic Events — RNR is significantly exposed to natural and non-natural catastrophic events, which can lead to substantial volatility in its financial results. (3) Legal and Regulatory Risks — Legal and regulatory risks represent 26% of RNR's reported risks. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is RenaissanceRe Holdings Ltd.'s revenue and earnings forecast?
Analyst consensus estimates RNR will report consensus revenue of $13.1B (+13.7% year-over-year) and EPS of $84.52 (+16.4% year-over-year) for the upcoming fiscal year. The following year, analysts project $15.4B in revenue.
06When does RenaissanceRe Holdings Ltd. (RNR) report its next earnings?
A confirmed upcoming earnings date for RNR is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does RenaissanceRe Holdings Ltd. generate?
RenaissanceRe Holdings Ltd. (RNR) generated $4.2B in free cash flow over the trailing twelve months — a free cash flow margin of 36.7%. RNR returns capital to shareholders through dividends (0.6% yield) and share repurchases ($1.6B TTM).