Renaissancere Holdings Ltd. · NYSE:RNR
Renaissancere — Investor Presentation (September 2008)
53 slides from Renaissancere's investor presentation, Sep 8, 2008
Slide 1: RenaissanceRe Holdings Ltd. Creating value across market cycles
RenaissanceRe Holdings Ltd. C reating value across market cycles Investor Presentation September 2008 Exhibit 99.2
Slide 2: Table of Contents
Table of Contents Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
Slide 3: Maintaining discipline through a soft market
In millions except per share amounts and percentages December 31, 2007 June 30, 2008 Maintaining discipline through a soft market – growing tangible book value per common share Gross Premiums Written $1,810 $1,335 Operating Income* Net Income Common Equity 2,827 2,723 Operating Return on Common Equi
Slide 4: We have generated superior value across market cycles
We have generated superior value across market cycles Legend: Green =TBVPS; Yellow = accumulated dividends *Information concerning the reconciliation of Non-GAAP measures can be found at the end of this presentat ion.
Slide 5: Strategic Overview
Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
Slide 6: We have maintained our unique culture and discipline
We have maintained our unique culture and discipline… Discipline - Disciplined underwriting team with a proven track record in hard and soft markets; history of identifying market inefficiencies Talent & Culture - Experienced management team; risk management culture; shared strategic vision Use Of T
Slide 7: Important competitive advantages
…which provides us with important competitive advantages. Superior Risk Selection • Underwriting excellence • Premier risk modeling capabilities • Confidence to quote risks in changing environment • Long term outperformance Superior Relationships • Consistent exposure based pricing • Quick response
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Slide 15: Our strategy: expand existing lines where attractive; leverage strengths in new areas
Our strategy: expand existing lines where attractive; leverage our strengths in new areas Credible Data/ Decision Support Tools Market Opportunity Cultural Fit
Slide 16: Our expansion strategy has been key to our growth
Our expansion strategy has been key to our growth *Information concerning the reconciliation of Non-GAAP measures and cautionary information with respect to the 2008 projections can be found at the end of this presentation. (1) 2008 projected premiums are based on July 2008 premium estimates of mana
Slide 17: Reinsurance
Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
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Slide 22: RNR delivers value, RNR gets preferred status
RNR delivers value RNR gets preferred status Leveraging off of our market leading franchise • Exposure based pricing that meets our portfolio return hurdles • Quick response • Customized products • Capacity for large lines • Advice on cat risk management • Superior credit quality and willingness to
Slide 23: Reinsurance Strategy
Reinsurance Strategy • Maintain strong relationships with brokers to see business on a “first call” basis • Use sophisticated analytical tools for superior risk selection • Cultivate risk management culture to monitor aggregation of risk • Strive for fast claims response to emphasize ability and wil
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Slide 28: Hard Market Strategies, Soft Market Strategies
Hard Market Strategies Soft Market Strategies Extending our industry leadership: different approaches to different cycles • “Pedal to the metal” in existing business • Innovate to create capacity / opportunity, working with Ventures business: - Sidecars - Parametric solutions • Maintain discipline a
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Slide 31: Discipline requires knowing when to grow and when to shrink
Discipline requires knowing when to grow and when to shrink • Market conditions matter – we decrease when conditions soften (e.g. late 1990’s and 2008), and grow when pricing improves (e.g. 2002) • Specialty premium can be lumpy due to our willingness to participate on large lines; we remain discipl
Slide 32: Individual Risk
Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
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Slide 35: Market conditions dictate writings
Market conditions dictate writings – we will decrease when conditions soften and grow when pricing improves 2002 2003 2004 2005 2006 2007 2008 Proj. (1) $MM Commercial Property Personal Lines Property Commercial Multi-line Multi Peril Crop Individual Risk Premiums (1) 2008 projected individual risk
Slide 36: Individual Risk Strategy
Individual Risk Strategy Our focus is on high margin primary insurance and quota share reinsurance We partner with other insurance companies and program managers (intermediaries) who source the risk and provide back office support We target a small number of partners with the following characteristi
Slide 37: Extending into attractive markets and expanding operational capabilities
Extending into attractive markets and expanding our operational capabilities
Slide 38: Ventures
Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
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Slide 41: Ventures has supported business growth in three key areas
Ventures has supported business growth in three key areas • Catastrophe Portfolio Participation CPPs - Participation in the results of our property cat book • Starbound I & II (Florida) • Timicuan Re (Florida) • Cat Bonds • Other • Platinum (2002) – IPO spin-off of St. Paul’s reinsurance operations
Slide 42: Hurricane Science
Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
Slide 43: Extending scientific leadership: hurricane risk mitigation
Extending scientific leadership: hurricane risk mitigation RenaissanceRe has been investigating the damage patterns and economic impact of catastrophic storms for many years. By contributing to hurricane risk mitigation efforts, we are seeking to: – Learn new information about behavior and frequency
Slide 44: Our current hurricane risk mitigation efforts include
Our current hurricane risk mitigation efforts include StormStruck™ The RenaissanceRe Wall of Wind The Hurricane Risk Mitigation Leadership Forum series
Slide 45: Outlook
Results Strategic Overview Reinsurance Individual Risk Ventures Hurricane Science Outlook
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Slide 50: Our goal remains long-term growth in tangible book value per share plus dividends
$0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Our goal remains long-term growth in tangible book value per common share plus accumulated dividends -20% -10% 0% 10% 20% 30% 40% 50% Operating ROE* Tangible Book Value Per Common Share plus Accumulated
Slide 51: RenaissanceRe is well-positioned
RenaissanceRe is well-positioned Balance sheet and capital base are stronger than at any point in our year history Our organization is strengthened by new talent, widening our breadth of expertise Our distinctive corporate culture remains a key competitive advantage We continue to strengthen our pos
Slide 52: Safe Harbor Statement
Safe Harbor Statement Cautionary Statement under "Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995: Statements made in this presentation contain information about the Company's future business prospects. These statements may be considered "forward-looking." These state
Slide 53: RenaissanceRe Holdings Ltd. contact details
RenaissanceRe Holdings Ltd. Renaissance House 8–20 East Broadway Pembroke, HM 19 Bermuda Tel: (441) 295-4513 www.renre.com
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