RNR

A month has gone by since the last earnings report for RenaissanceRe (RNR). Shares have lost about 4.6% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is RenaissanceRe due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. RNR Q1 Earnings Beat on Lower Expenses & Strong Investment Results RenaissanceRe reported first-quarter 2026 operating income of $13.75 per share, which surpassed the Zacks Consensus Estimate by 24.2%. The bottom line improved from the year-ago quarter’s operating loss of $1.49. Total operating revenues declined 16.6% year over year to $2.6 billion. The top line missed the consensus mark by 10.6%. The quarterly earnings were aided by a decline in expenses and strong underwriting performance in both segments. Improved combined ratio and fee income also contributed to the upside. However, the upside was partly offset by lower net premiums earned across both segments. Gross premiums written of $3.5 billion tumbled 16.3% year over year and missed our estimate of $4 billion. Net premiums earned fell 19.7% year over year to $2.2 billion. The metric fell short of the Zacks Consensus Estimate and our estimate of $2.5 billion. Net investment income of $420.5 million advanced 3.7% year over year in the quarter under review on the back of increased average invested assets and reallocation of the portfolio. The metric missed the consensus mark of $446.6 million and our estimate of $446.2 million. Fee income of $94.1 million increased more than threefold year over year. Total expenses came in at $1.6 billion, which dropped 53.5% year over year and came lower than our estimate of $2.2 billion. The year-over-year decrease resulted from a decline in net claims and claim expenses incurred, acquisition costs and operational expenses. RenaissanceRe’s underwriting income increased to $588.8 million from the prior-year quarter’s loss of $770.6 million. The combined ratio of 73% improved from 128.3% a year ago. Book value per common share was $250.48 as of March 31, 2026, up 27.7% year over year. Annualized operating return on average common equity improved to 22.3% year over year from nega...

MarketAxess Holdings Inc. MKTX reported first-quarter 2026 adjusted earnings per share of $2.25, which beat the Zacks Consensus Estimate by 4.7%. The bottom line increased 20.3% year over year. Total revenues were $233 million, which grew 12% year over year. The top line beat the consensus mark by 0.9% The quarterly results benefited from solid growth in total revenues, driven by higher high-grade, high-yield, emerging markets and Eurobonds trading volumes. Increased commission revenues, along with growth in information services, technology services and post-trade services revenues, also contributed to the upside. The gains were partly offset by higher expenses stemming from increased employee compensation and benefits, technology and communication, and marketing and advertising costs. MarketAxess Holdings Inc. price-consensus-eps-surprise-chart | MarketAxess Holdings Inc. Quote Commission revenues improved 12.2% year over year to $203.5 million. The metric beat the Zacks Consensus Estimate of $202.1 million and our estimate of $198.7 million. Information services revenues of $14.4 million grew 11.9% year over year. The metric beat the consensus mark of $13.9 million and our estimate of $13.6 million. Post-trade services revenues increased 4.7% year over year to $11.6 million, while technology services revenues rose 19% to $3.9 million. Total expenses were $132.5 million, which escalated 10.2% year over year in the quarter due to higher employee compensation and benefits, technology and communication, and marketing and advertising. The metric was lower than our estimate of $135.9 million. MarketAxess’ net income skyrocketed 418.5% year over year to $78.1 million, higher than our estimate of $72.5 million. The net income margin of 33.5% improved 2,630 basis points year over year. The high-grade trading volume of MarketAxess was $511.5 billion in the first quarter, which advanced 10.9% year over year and beat the Zacks Consensus Estimate of $505.1 billion. The ADV of the same product category totaled $8.39 million, which rose 10% year over year and beat the Zacks Consensus Estimate of $8.31 million. High-yield trading volume of $100.4 billion climbed 11.6% year over year, while ADV rose 12% year over year to $1.6 billion. Other credit trading volume rose 16% year over year to $49.8 billion, whereas ADV for the same product category increased 10% year over year...

Lincoln National Corporation LNC reported first-quarter 2026 adjusted earnings per share of $1.66, which surpassed the Zacks Consensus Estimate by 1.8%. The bottom line rose 3.7% year over year. Adjusted operating revenues grew 3.9% year over year to $4.9 billion. However, the top line missed the consensus mark by 0.2%. The quarterly earnings were supported by strong annuity deposits and solid Life Insurance performance. Higher net investment income, favorable equity markets and reduced expenses also contributed to the upside. Nevertheless, the positives were partly offset by a decline in the sales of Group Protection and lower insurance premiums. Lincoln National Corporation price-consensus-eps-surprise-chart | Lincoln National Corporation Quote LNC’s estimated RBC ratio rose to more than 420% at the first-quarter end. Insurance premiums inched down 0.1% year over year to $1.7 billion, missing the Zacks Consensus Estimate by 2.4%. Fee income was $1.4 billion, which improved 0.3% year over year but missed the consensus mark by 1.7%. Net investment income advanced 9.8% year over year to $1.6 billion and beat the consensus mark by 7.5%. Meanwhile, other revenues of $184 million rose 8.9% year over year in the quarter under review. Total expenses declined 1.6% year over year to $5.6 billion. Interest credited rose 12.2% year over year to $999 million. Lincoln National reported a net loss of $172 million compared to the prior-year quarter’s loss of $722 million. The Annuities and Life Insurance segments form part of LNC’s Retail Solutions business, while Group Protection and Retirement Plan Services units make up the Workplace Solutions business. The Annuities segment’s operating income totaled $275 million in the first quarter, which fell 5.2% year over year and missed the Zacks Consensus Estimate of $295.6 million due to the impact of a previously disclosed net investment income allocation refinement and unfavorable tax-related items. The unit's operating revenues rose 7.1% year over year to $1.3 billion, driven by 12.7% growth in net investment income, partly offset by a 14.3% decline in insurance premiums. Total annuity deposits were $3.9 billion, which climbed 3.7% year over year. The Life Insurance unit recorded an operating income of $41 million, improved from the prior-year quarter’s loss of $16 million and beat the consensus mark of $7.2 million. The me...

Skyward Specialty Insurance Group, Inc. SKWD delivered a solid first quarter of 2026, with operating earnings per share of $1.25, increased 38.9% from a year ago and beat the Zacks Consensus Estimate of $1.05. Total revenues were $475.87 million, up 44.8% year over year, and came in 19.4% above the consensus mark. First quarter performance reflected stronger premiums, underlying underwriting results alongside the accretive impact of Apollo, while profitability held firm with a lower combined ratio. Skyward Specialty Insurance Group, Inc. price-consensus-eps-surprise-chart | Skyward Specialty Insurance Group, Inc. Quote Gross written premiums totaled $667.7 million, up 9.9% versus the prior-year period. Growth was broad-based, led by an 8.7% increase in the Skyward Specialty segment and an 18.7% rise in the Apollo segment, supported by higher volume in syndicate 1969. Net earned premiums climbed to $434 million from $300.4 million a year ago, reflecting higher business volumes and the expanded footprint following the Apollo consolidation. Underwriting fee income of $10.1 million also contributed to the quarter’s top-line mix, tied to Apollo’s managing agency activities. Net investment income increased to $27.1 million from $19.4 million a year ago, driven by the addition of the Apollo portfolio, a higher yield environment, and a larger invested asset base. Within Skyward Group’s U.S. specialty operations, several underwriting divisions posted notable momentum. Accident & Health gross written premiums increased 45.7% year over year, Credit & Surety rose 42.5%, Global Agriculture advanced 27.0%, and Specialty Programs jumped 51.2%, helping offset declines in Energy Solutions and Global Property. The portfolio’s evolving composition also reflected a sharper emphasis on businesses positioned for steadier growth. Management highlighted continued diversification, including expansion in areas with lower exposure to property-and-casualty underwriting cycles, as it aims to sustain disciplined top-line and bottom-line progress. Losses and loss adjustment expenses were $265.22 million, up from $187.31 million in the prior-year quarter, in line with the larger premium base. Still, the total loss ratio improved to 61.1% from 62.4% a year ago, supporting underwriting profitability despite business-mix shifts within the Skyward Specialty segment. Total Cat loss and LAE of 1...

Blue Owl Capital Corporation OBDC reported first-quarter 2026 adjusted earnings per share (EPS) of 31 cents, which missed the Zacks Consensus Estimate by 11.4%. The bottom line decreased 20.5% year over year. Total investment income declined 14.6% year over year to $396.8 million. The top line missed the consensus mark by 6.2%. The weaker-than-expected quarterly results were affected by lower net investment income. However, the downside was partly offset by lower expenses. Blue Owl Capital Corporation price-consensus-eps-surprise-chart | Blue Owl Capital Corporation Quote Adjusted net investment income of $153 million fell 3% year over year. New investment commitments were $676 million across seven new portfolio companies and 16 existing ones. Blue Owl Capital ended the first quarter with investments in 230 portfolio companies, backed with an aggregate fair value of $15.3 billion. Based on the fair value, the average investment size in each portfolio company was $66.7 million as of March 31, 2026. Total expenses decreased 9.4% year over year to $235.2 million in the first quarter due to lower interest expenses and management fees. OBDC recorded an adjusted net decrease in net assets resulting from operations of $24.4 million, which decreased from the net increase of $159.7 million a year ago. Blue Owl Capital exited the first quarter with a cash balance of $416.1 million, which declined from the 2025-end level of $558.7 million. Total assets of $16 billion decreased from the $17.2 billion figure at 2025-end. Debt was $8.5 billion, down from the $9.3 billion figure as of Dec. 31, 2025. OBDC had $3.6 billion of undrawn capacity under its credit facilities. At the first-quarter end, net debt to equity was 1.13X. Net operating cash flow in the first quarter of 2026 was $967.4 million, up from the prior-year figure of $38.9 million. The board of directors at Blue Owl Capital declared a second-quarter 2026 regular dividend of 31 cents per share, to be paid on or before July 15, 2026, to its shareholders of record as of June 30. Blue Owl Capital announced a new repurchase program (expiring in 18 months from the approval date of Feb. 18, 2025), under which it may purchase shares up to $300 million. The company repurchased shares worth $35 million in the first quarter of 2026. OBDC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zac...

PEMBROKE, Bermuda, May 06, 2026--(BUSINESS WIRE)--RenaissanceRe Holdings Ltd. (NYSE: RNR) ("RenaissanceRe" or the "Company") today announced the following: Existing director, Henry Klehm III has been appointed Non-Executive Chair of the Board of Directors, succeeding James L. Gibbons in the role. Mr. Gibbons will continue to serve as an independent director of the Company and member of the Audit Committee. Stephen C. Hooley has been elected to serve as an independent director of the Company, succeeding David C. Bushnell who is retiring from the Board after 18 years of distinguished service. The Board of Directors has declared a quarterly dividend of $0.41 per common share on its common shares, payable on June 30, 2026, to shareholders of record on June 15, 2026. The Board of Directors has approved a renewal of RenaissanceRe’s authorized share repurchase program, bringing the total current authorization up to $750.0 million, which includes the remaining amounts under prior authorizations. The program will expire when the Company has repurchased the full value of the shares authorized, unless terminated earlier by the Board of Directors. Pursuant to the program, RenaissanceRe may repurchase shares through open market purchases and privately negotiated transactions, and the decision to repurchase common shares will depend on, among other things, the market price of the common shares and the Company’s capital requirements. Kevin J. O’Donnell, Chief Executive Officer, said, "I want to thank James for his exceptional leadership as Non-Executive Chair over the past decade. His guidance has been invaluable as we navigated a period of significant strategic growth and transformation. I look forward to the leadership that Henry will bring as Chair given his deep expertise in risk, compliance and corporate governance." Mr. O’Donnell continued, "I also want to thank David for his 18 years of distinguished service across all three Board committees. His insight and judgment in finance, capital markets, risk management, operations, and investments have made a lasting impact on RenaissanceRe. At the same time, we are pleased to welcome Stephen to the Board and look forward to the perspective that he will bring from his leadership experience in technology and financial services." About RenaissanceRe RenaissanceRe is a global provider of reinsurance and insurance that speciali...

Skyward Specialty Insurance Group, Inc. SKWD is set to report its first-quarter 2026 results on May 6, 2026, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $1.05 per shareon revenues of $398.43 million. The first-quarter earnings estimate witnessed one downward revision and one upward revision over the past 60 days. The bottom-line projection indicates a year-over-year increase of 16.7%. Also, the Zacks Consensus Estimate for quarterly revenues implies a year-over-year growth of 21.3%. Image Source: Zacks Investment Research For 2026, the Zacks Consensus Estimate for Skyward Specialty’s revenues is pegged at $1.77 billion, implying a jump of 25% year over year. The consensus mark for 2026 EPS is pegged at $4.69, indicating 17.3% year-over-year growth. Skyward Specialty’searnings beat the consensus estimate in each of the trailing four quarters, with the average surprise being 16.1%. This is depicted in the figure below. Skyward Specialty Insurance Group, Inc. price-eps-surprise | Skyward Specialty Insurance Group, Inc. Quote Our proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here. SKWD currently has an Earnings ESP of +0.48%, but a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for net earned premiums indicates 18.2% growth from the year-ago period’s $300.4 million. Growth in accident & health and specialty programs is expected to have benefited the metric in the to-be-reported quarter. The consensus estimate for commission and fee income indicates a 5.1% increase from the year-ago period. Moreover, the Zacks Consensus Estimate for net investment income indicates 24.6% growth from the year-ago period’s $19.3 million. These are likely to have positioned the company for a year-over-year growth in the first quarter. However, the consensus estimate for the combined ratio is pegged at 90.8, higher than the year-ago level of 90.5. The same for loss ratio currently stands at 62.3, lower than the year-ago level of 62.4. But t...

Virtu Financial, Inc. VIRT reported first-quarter adjusted earnings per share (EPS) of $2.24, which beat the Zacks Consensus Estimate by 34.9%. The bottom line increased 72.3% year over year. Adjusted Net Trading Income rose 58.2% year over year to $786.5 million, surpassing the consensus estimate by 37.5%. The strong quarterly results can be attributed to the improved commissions and technology services revenues. Strong performance in both the Market Making and Execution Services segments, driven by increased trading activity, also contributed to the upside. However, an increased expense level partially offset the positives. Virtu Financial, Inc. price-consensus-eps-surprise-chart | Virtu Financial, Inc. Quote Revenues from commissions, net and technology services rose 23.3% year over year to $186.6 million. The metric beat the Zacks Consensus Estimate and our model estimate of $163.2 million. Interest and dividend income of $127.5 million increased 16.9% year over year but missed both the Zacks Consensus Estimate and our estimate of $128.6 million. Adjusted EBITDA increased 62.7% year over year to $520.6 million. Adjusted EBITDA margin improved year over year to 66.2% from 64.4% a year ago. Total operating expenses rose 11.7% year over year to $685.8 million, but were lower than our estimate of $771.7 million. The increase was due to higher costs related to communication and data processing, as well as employee compensation and payroll taxes. Market Making: Adjusted net trading income totaled $637.1 million in the first quarter, climbing 66.8% year over year. The metric surpassed the Zacks Consensus Estimate of $446 million. The unit’s revenues increased 32.5% year over year to $915.7 million, beating both the Zacks Consensus Estimate and our estimate of $815.6 million. Execution Services: The unit recorded adjusted net trading income of $149.5 million in the quarter under review, representing an increase of 29.8% year over year. The metric surpassed the Zacks Consensus Estimate of $126 million and our estimate of $125.1 million. The unit’s total revenues rose 32.7% year over year to $187.1 million, beating both the consensus estimate and our estimate of $156.6 million. Virtu Financial ended the first quarter with cash and cash equivalents of $973.2 million, down 8.3% from the 2025 year-end level. Total assets increased to $25.1 billion from $20.2 billion...

CNO Financial Group, Inc. CNO reported first-quarter 2026 adjusted earnings per share (EPS) of $1.29, which beat the Zacks Consensus Estimate by 41.8%. The bottom line rose from 79 cents a year ago. Operating revenues of $1.1 billion advanced 4.1% year over year. The top line surpassed the consensus mark by 6.9%. The strong quarterly results were supported by strong collected premiums from life and health products, rising new annualized premiums and higher fee revenues. Nevertheless, the upside was partly offset by a rise in total benefits and expenses as a result of higher insurance policy benefits. CNO Financial Group, Inc. price-consensus-eps-surprise-chart | CNO Financial Group, Inc. Quote Total insurance policy income rose 3.5% year over year to $673.4 million. The metric was aided by improved collected premiums from annuity, life and health products. Total investment losses were $22.7 million, wider than the prior-year quarter’s loss of $6.8 million. General account assets grew 5.3% year over year to $395 million. Policyholder and other special-purpose portfolios totaled negative $64.9 million compared with the prior-year quarter’s negative $63.6 million. Fee revenues and other income rose 0.3% year over year to $48.8 million. Annuity collected premiums of $433.8 million, declining 1.9% year over year, while health collected premiums increased 5.5% to $428 million. Collected premiums from life products totaled $249.8 million, which rose 2.2% year over year. The total collected premiums advanced 1.8% year over year to $1.1 billion. New annualized premiums for health products rose 17.5% year over year, while the same for life products climbed 4.8%. Annuity, Health and Life products accounted for 22.8%, 51.6% and 25.6%, respectively, of CNO's insurance margin. Total benefits and expenses rose 0.5% year over year to $981.2 million due to higher insurance policy benefits. CNO Financial exited the first quarter with unrestricted cash and cash equivalents of $1.1 billion, which rose 18.1% from the 2025-end level. Total assets of $39 billion rose 0.4% from the figure at 2025-end. The debt-to-capital was 34.6% at the first-quarter end, which deteriorated 120 basis points (bps) from the 2025-end figure. Total shareholders’ equity declined 5.3% from the 2025-end level to $2.5 billion. Book value per common share was $26.64, which decreased 4.6% from the figure at...

In the first four months of 2026, RenaissanceRe Holdings repurchased 1,558,662 shares for US$457.29 million, completing a buyback of 2,342,094 shares for US$667.59 million under its November 2025 authorization while reporting a strong first-quarter 2026 with US$591 million in operating income and a 22% annualized operating return on equity driven by underwriting, fee, and investment income. The combination of robust earnings, disciplined underwriting in a competitive property catastrophe market, and heavy buybacks that have reduced the share count meaningfully since 2024 highlights management’s focus on capital efficiency and shareholder returns. We’ll now examine how RenaissanceRe’s strong first-quarter earnings and continued share repurchases may influence its existing investment narrative and risk profile. Uncover the next big thing with 24 elite penny stocks that balance risk and reward. To own RenaissanceRe, you need to believe it can keep converting a larger, catastrophe-heavy book into solid underwriting profits while using buybacks to lift per-share results. The latest quarter’s US$591 million in operating income and 22% operating ROE, combined with repurchasing over 5% of shares under the November 2025 program, supports that thesis. However, the key near term catalyst of profitable property catastrophe renewals still sits alongside the biggest risk of outsized losses in severe event years. The most relevant recent update here is the completion of US$667.59 million in buybacks under the November 2025 authorization, with more than 20% of shares retired since 2024. This is a strong signal that capital is being returned even as RenaissanceRe grows its property catastrophe exposure, a combination that can amplify both upside in strong underwriting periods and downside in heavier loss years, making capital discipline central to the stock’s catalyst and risk story. Yet despite these strong results, investors should be aware that heavy property catastrophe exposure still leaves RenaissanceRe vulnerable to... Read the full narrative on RenaissanceRe Holdings (it's free!) RenaissanceRe Holdings' narrative projects $9.6 billion revenue and $1.6 billion earnings by 2029. This implies a 9.2% yearly revenue decline and an earnings decrease of $1.0 billion from $2.6 billion today. Uncover how RenaissanceRe Holdings' forecasts yield a $326.47 fair value, a 9% upsid...

RenaissanceRe reported a strong quarter with $591 million operating income, $13.75 operating EPS and a 22% annualized operating ROE, driven by underwriting income (~$589 million) and about $160 million of favorable prior‑year reserve development (adjusted combined ratio ~72%). January renewals showed property catastrophe rates down in the “low teens” but management retained most business and deployed $1 billion of new limit into the most attractive accounts as industry new catastrophe demand rose toward an estimated $15 billion. Investment and capital actions included $304 million retained net investment income offset by ~$350 million of mark‑to‑market losses, portfolio repositioning, and continued buybacks (repurchased $353 million in Q1; $458 million YTD and >20% of shares repurchased since 2024) while remaining well‑capitalized. Interested in RenaissanceRe Holdings Ltd.? Here are five stocks we like better. A Quiet Outperformer With a Catastrophe Caveat RenaissanceRe (NYSE:RNR) executives told investors the company opened 2026 with what they described as a strong, diversified quarter, with underwriting, fee income and investment income all contributing to results despite heightened geopolitical and market volatility. For the first quarter, the company reported operating income of $591 million, operating earnings per share of $13.75 and an annualized operating return on equity of 22%, according to President and CEO Kevin O’Donnell. Tangible book value per share increased 1.5% to $233.49, which O’Donnell said reflected retained mark-to-market losses of $357 million and $353 million of share repurchases “at a premium to book value.” → Meta Posted Its Best Sales Growth Since 2021—So Why Did Shares Fall? O’Donnell said RenaissanceRe’s model is designed to reduce reliance on any single market condition, emphasizing a balance of underwriting, fee, and investment income. In the quarter, underwriting income was $589 million, which management attributed to strong current accident year performance and favorable prior year reserve development. O’Donnell said the company benefited from about $160 million of favorable reserve development, with a “proportionally larger contribution from other property.” CFO Bob Qutub added that the company reported favorable development in both segments, “with most of it coming from other property where we fully retain in our bottom-lin...

Aflac Incorporated AFL reported first-quarter 2026 adjusted earnings per share (EPS) of $1.75, which missed the Zacks Consensus Estimate by 2.9%. However, the bottom line improved 5.4% year over year. Adjusted revenues totaled $4.2 billion, which declined 1.9% year over year. The top line missed the consensus mark by 2.1%. AFL’s quarterly performance was affected by lower net investment income and exchange rate. Nevertheless, the downside was partly offset by higher sales in the U.S. unit. Aflac Incorporated price-consensus-eps-surprise-chart | Aflac Incorporated Quote Adjusted net investment income declined 1.2% year over year to $902 million in the quarter under review. Net benefits and claims totaled $1.8 billion, which declined 5.8% year over year. Total acquisition and operating expenses decreased 1.5% year over year to $1.3 billion. Pre-tax earnings increased to $1.2 billion from $145 million in the prior-year quarter. Aflac Japan: The segment’s adjusted revenues dipped 4.4% year over year to $2.2 billion in the first quarter and missed the Zacks Consensus Estimate of $2.3 billion. Net earned premiums of $1.6 billion slipped 6.4% year over year and missed the consensus mark by 3.1%. Adjusted net investment income increased 0.9% year over year to $591 million. The unit’s pretax adjusted earnings rose 5.1% to $759 million but missed the consensus mark of $800.9 million. New annualized premium sales advanced 25.5% year over year to $113 million on the back of solid sales of Anshin Palette, Miraito and Tsumitasu. Aflac U.S.: Adjusted revenues of $1.8 billion grew 3.4% year over year and beat the Zacks Consensus Estimate by 0.3%. Net earned premiums advanced 3.5% year over year to $1.6 billion, attributable to higher sales. The metric beat the consensus mark of $1.5 billion. Adjusted net investment income totaled $201 million, which inched down 0.5% year over year in the quarter under review. Pretax adjusted earnings of the segment increased 1.4% year over year to $363 million. The metric beat the consensus mark of $359.1 million. The unit’s sales totaled $318 million, up 2.9% year over year, on the back of higher sales of group products. Aflac exited the first quarter with total investments and cash of $103.2 billion, down from the 2025-end level of $103.8 billion. Total assets of $116.3 billion decreased 0.2% from the year-end figure. Adjusted debt amount...