Renaissancere holdings ltd. provides earnings guidance for the third quarter of 2019

Renaissancere holdings ltd. announced it currently estimates that losses from third quarter 2019 catastrophe events will have an estimated net negative impact of approximately $155 million on its third quarter 2019 results of operations. the estimated losses include typhoon faxai and hurricane dorian, which will have an estimated net negative impact of approximately $100 million and $55 million, respectively. the company expects to report modest net income and operating income available to common shareholders for the third quarter of 2019. meaningful uncertainty regarding the estimates and the nature and extent of the losses from these events remains, driven by the magnitude and recent occurrence of each event, the geographic areas in which the events occurred, relatively limited claims data received to date, the contingent nature of business interruption and other exposures, potential uncertainties relating to reinsurance recoveries and other factors inherent in loss estimation, among other things. accordingly, the company’s actual net negative impact from the catastrophe events in the third quarter of 2019 may vary from these preliminary estimates, perhaps materially.
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