RenaissanceRe Holdings Q2 Profit Plunges - Quick Facts

(RTTNews) - RenaissanceRe Holdings Ltd. (RNR) Tuesday reported second-quarter profit of $34.30 million, down from $151.02 million in the same period last year.

Net income available to common shareholders plunged to $26.8 million or $0.60 per share from $142.3 million or $2.75 per share last year.

Operating income for the quarter was $96.4 million or $2.17 per share. On average, 16 analysts polled by Thomson Reuters expected the company to earn $2.32 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues dropped to $252.99 million from $310.50 million last year. Analysts expected revenues of $305.53 million.

Combined ratio for the quarter was 61.2 percent, compared to 47.7 percent last year. Underwriting expense ratio was 25.6 percent, compared to 27.4 percent last year.