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RenaissanceRe CEO says insurer is positioned for a softer property market
RenaissanceRe posted $599.1 million of underwriting income and a 72.8% combined ratio in Q2 2026, with the CEO pointing to low catastrophe losses and favourable prior-year reserve development.
RenaissanceRe CEO Kevin J. O’Donnell said during the company’s Q2 2026 earnings call that the reinsurer is well positioned for a potentially softer property catastrophe market, drawing on decades of experience managing underwriting discipline as conditions change. He said property catastrophe rates remain broadly adequate and are still guiding the firm’s underwriting approach.
O’Donnell said RenaissanceRe’s Q2 2026 results reflected strong current-year underwriting performance, low catastrophe losses and favourable development in prior-year reserves. The company reported $599.1 million of underwriting income and a 72.8% combined ratio in the quarter.
He added that property catastrophe rates were down in the high teens at mid-year renewals, consistent with the company’s expectations. O’Donnell said RenaissanceRe’s leadership position helped it grow property catastrophe limit with high-quality clients, aiming to maintain a portfolio that stays rate-adequate at today’s pricing.
RenaissanceRe’s CEO also argued that recent rate decreases have come off the step change in pricing and terms that reset the market in 2023. He said the company uses a strategy based on rate adequacy, including understanding how rate changes can be asymmetric, to adjust tactics as markets shift.