RenaissanceRe CEO Kevin O'Donnell; Source: RenRe
15 April 2021Insurance

RenRe warns on Q1 net loss thanks to claims from winter storm Uri

RenaissanceRe Holdings estimates that losses from Winter Storm Uri will have a net negative impact of approximately $180 million on the company’s Q1 2021 results of operations.

Winter Storm Uri was a major wind and ice storm that impacted the US in February 2021, causing widespread damage in many areas, including Texas. For the first quarter of 2021, the company expects to report a net loss attributable to common shareholders and nominal operating income available to common shareholders.

Kevin O’Donnell, president and chief executive officer of RenaissanceRe, said: “We extend our sympathies to all those affected by Winter Storm Uri. Consistent with our track record, we will support our customers in understanding and managing this US winter storm while helping communities recover through rapid payment of claims. We are in a strong capital position heading into the mid-year renewals and anticipate additional opportunities to write attractive risk.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at or Adrian Tapping at

More on this story

27 January 2021   The reinsurer described 2020 as a 'difficult year' but said it is fully focused on executing its strategy in 2021.
29 April 2021   The re/insurer has materially grown its underwriting portfolio during the quarter.
23 July 2021   Its CEO Kevin O’Donnell is confident to provide superior shareholder returns over the long term.