What does operating segments — underwriting expense ratio mean?

The percentage of net premiums earned that is spent on operating and administrative costs.

How do you interpret operating segments — underwriting expense ratio?

A lower ratio indicates better cost management and operational efficiency in the underwriting segment.

How does operating segments — underwriting expense ratio compare across companies?

Standard efficiency metric for all insurance companies; comparable to expense ratios at peer firms.

RenaissanceRe Holdings RNR Operating Segments — Underwriting Expense Ratio

Discontinued — last reported Q2 '18

Similar metrics at other companies

ACGLUnderwriting Segments — Other operating expense ratio

2.6%—

ACGLOperating Segments — Loss Ratio

51.7%-1.4pp

ACGLOperating Segments — Other Operating Expense Ratio Percentage

14.2%-0.6pp

ACGLOperating Segments — Combined Ratio Percentage

80.2%-2.0pp

ACGLOperating Segments — Acquisition Expense Ratio Percentage

14.3%0.0pp

ACGLReinsurance — Other Operating Expense Ratio Percentage

0.1%0.0pp

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:UnderwritingExpenseRatio.

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

Questions, answered.

What does operating segments — underwriting expense ratio mean?: The percentage of net premiums earned that is spent on operating and administrative costs.
How do you interpret operating segments — underwriting expense ratio?: A lower ratio indicates better cost management and operational efficiency in the underwriting segment.
How does operating segments — underwriting expense ratio compare across companies?: Standard efficiency metric for all insurance companies; comparable to expense ratios at peer firms.