What does operating segments — combined ratio mean?

The combined ratio is the sum of the loss ratio and the expense ratio, representing the total cost of insurance operations relative to premiums earned. It is the definitive measure of underwriting profitability, where a ratio below 100% indicates an underwriting profit and above 100% indicates an underwriting loss. This metric is essential for assessing the overall efficiency and pricing strategy of the insurance segment.

RenaissanceRe Holdings RNR Operating Segments — Combined Ratio

Discontinued — last reported Q2 '18

Similar metrics at other companies

AXSReinsurance — Combined Ratio

92.7%+0.4pp

AXSInsurance — Combined Ratio

86.3%-0.4pp

ACGLInsurance — Combined Ratio Percentage

96.5%-3.6pp

ACGLReinsurance — Combined Ratio Percentage

75.9%-15.9pp

ORISpecialty Insurance Group — Combined Ratio

94.8%+5.0pp

ACGLMortgage — Combined Ratio Percentage

22.3%+6.2pp

Other financials

Income statement

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Revenue$2.2B-36.8%

Net income$293.4M+72.6%

EPS (diluted)$6.57+101%

Balance sheet

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Cash & equivalents$1.6B-4.3%

Total debt$2.3B-15.4%

Total equity$11.5B+11.3%

Total assets$53.7B+0.2%

Cash flow

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Operating cash flow$687.6M+336%

Valuation

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Market cap$12.75B+9.1%

Enterprise value$13.52B+5.5%

P/E4.6×-1.8×

P/S1.1×+0.2×

Profitability

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Net margin24.2%+9.5pp

Returns & leverage

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Return on equity25.7%+7.2pp

Debt / equity0.2×-0.1×

Where this comes from

Reported directly by RenaissanceRe Holdings in its filing.

Tagged under the XBRL concept us-gaap:CombinedRatio.

The official record: RenaissanceRe Holdings’s 10-Q, filed July 25, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does operating segments — combined ratio mean?: The combined ratio is the sum of the loss ratio and the expense ratio, representing the total cost of insurance operations relative to premiums earned. It is the definitive measure of underwriting profitability, where a ratio below 100% indicates an underwriting profit and above 100% indicates an underwriting loss. This metric is essential for assessing the overall efficiency and pricing strategy of the insurance segment.