Bermuda-based RenaissanceRe Holdings Ltd. estimated that losses from Winter Storm Uri will have a net negative impact of approximately $180 million on the company’s first quarter 2021 results of operations.
Winter Storm Uri was a major wind and ice storm that hit the U.S. in February 2021, causing widespread damage in many areas, including Texas.
As a result, 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.
Source: RenaissanceRe
Photograph: City of Richardson worker Kaleb Love works to clear ice from a water fountain Tuesday, Feb. 16, 2021, in Richardson, Texas. Photo credit: AP Photo/LM Otero.
Topics USA Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Judge Tosses Buffalo Wild Wings Lawsuit That Has ‘No Meat on Its Bones’ 
World’s Growing Civil Unrest Has an Insurance Sting 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
