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.
Zurich Insurance Profit Beats Estimates as CEO Eyes Beazley 
Fla. Commissioner Offers Major Changes to Citizens’ Commercial Clearinghouse Plan 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
