RenaissanceRe Q4 profits double Wall Street consensus
RenaissanceRe became the latest (re)insurer to beat Wall Street forecasts as it booked $31.0mn or $0.65 a share of operating profit in the fourth quarter.
The performance was down on the prior-year period as the impact of Sandy contributed to a fall in operating profits from $58.0mn or $1.11 a share, but was nevertheless more than twice the $0.30 a share consensus view of analysts.
That helped transform a full-year operating loss of $162.4mn in the catastrophe-struck 2011 to an...
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