RNR — what changed in the latest 10-Q
A section-by-section comparison of RNR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-28 vs the prior 10-Q · 2026-07-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +188 | −158 | ~112 | 125 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +7 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-28
Net claims and claim expense ratio – prior accident years(12.7)%(15.6)%2.9 pts
Net claims and claim expense ratio – calendar year48.9 %36.1 %12.8 pts
Return on average common equity - annualized(6.0)%34.9 %(40.9)pts
Book value per common share plus accumulated dividends$290.52 $295.27 $(4.75)
–underwriting income of $426.1 million, a decrease of $344.1 million, resulting in a combined ratio of 79.7%, an increase of 11.3 percentage points, driven by:
Text removed vs the prior filing · source: 10-Q · 2026-07-23
Return on average common equity - annualized24.0 %33.7 %(9.7)pts
–underwriting income of $599.1 million, remained consistent with the second quarter of 2025, decreasing by $2.6 million, and resulted in a combined ratio of 72.8%, an improvement of 2.3 percentage points, primarily driven by:
◦a lower level of catastrophe losses in the second quarter of 2026, compared to the second quarter of 2025, partially offset by less favorable prior year development; and
◦an improvement of 1.9 percentage points to the underwriting expense ratio, largely due to the Bermuda tax credits recorded in the second quarter of 2026, and a decrease in purchase accounting adjustments compared to the second quarter of 2025.
–gross premiums written and net premiums written decreased by $426.8 million and $493.3 million, respectively, reflecting rate reductions and exposure reductions compared to the second quarter of 2025, as well as an increase in retrocessional coverage purchased within the Casualty and Specialty segm…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-28
Amendment to Committed Letter of Credit Issuance Facility with Citibank Europe
Effective October 26, 2026, Citibank Europe plc (“CEP”), Renaissance Reinsurance, DaVinci Reinsurance, RenaissanceRe Specialty U.S., and Renaissance Reinsurance of Europe DAC (each of Renaissance Reinsurance, DaVinci Reinsurance, RenaissanceRe Specialty U.S. and Renaissance Reinsurance of Europe DAC…
The Amendment reduces the maximum aggregate amount of the facility from $320 million to $250 million, and extends the availability end date of the Facility to December 31, 2027 and the expiry date of the Facility to December 31, 2028 (as so amended, the “Facility Letter”). All other terms and condit…
As amended, the Facility provides for a commitment from CEP to issue letters of credit for the account of one or more of the Account Parties in an aggregate amount of up to $250 million, with a right, subject to satisfying certain conditions, to increase the size of the Facility to $280 million.
CEP and its affiliates have performed commercial banking, investment banking and advisory services for the Account Parties and their affiliates from time to time for which they have received customary fees and reimbursement of expenses. CEP and its affiliates may from time to time engage in transact…
Text removed vs the prior filing · source: 10-Q · 2026-07-23
During the three months ended June 30, 2026, the following directors or officers of the Company adopted a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (each as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended): on May 18, 2026, R…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice