RenaissanceRe Holdings Ltd.’s (RNR) third-quarter operating earnings of $3.85 per share were substantially ahead of the Zacks Consensus Estimate of $1.04. This also compares much favorably with an operating loss of $2.35 per share in the year-ago quarter.

Net income available to common shareholders was $258.6 million or $4.12 per share, compared to a net loss of $231.0 million or $3.79 per share in the prior-year quarter.

A lack of insured catastrophes and improved investment markets during the reported quarter helped the company generate an annualized operating ROE of 33.3% and 11.4% growth in book value per share.

Operating ROE in the reported quarter was 33.3%, compared to negative 22.4% recorded in the year-ago quarter. Reported book value at Sept. 30, 2009 was $49.21 per share, up 27.0% from $38.74 per share at Dec. 31, 2009.

Full Post: http://www.stockbloghub.com/2009/10/28/r...