RenaissanceRe Holdings provides property catastrophe reinsurance coverage to insurers and reinsurers worldwide, primarily on an excess of loss basis. For the six months ended 6/30/03, revenues increased 72% to $699.7 million. Net income before acctg. change and applicable to Common rose 81% to $331.4 million. Results reflect higher premiums on catastrophe reinsurance and other lines of reinsurance and higher income from the minority interest in DaVinci.
Currently trading at a trailing P/E of 5.6. Book value $ 26/share.
Lost market value since presenting stong last Q - stock down from high 40's to $ 41 and change.
Looks like a solid prospect in a sea of red - comments welcome |
