Peter Qutubsen

Peter Qutubsen asked about RenaissanceRe's strategy of prioritizing casualty cedents focused on claims handling, inquiring how the 1/1/2026 renewal period differed from 1/1/2023 in terms of information flow and collaboration. He also asked for the drivers behind the minor favorable development in casualty, excluding the purchase accounting adjustment.

Answer

Bob Qutub, EVP and CFO, explained that they now receive materially better information from clients, which aids in understanding claims trends and overall business approach, leading to better underwriting decisions. He noted increased proactivity from insurance carriers in addressing the plaintiff's bar. Regarding casualty development, Bob Qutub reiterated it was favorable on a cash basis, with purchase accounting adjustments layering in about $8 million.

Peter Qutubsen asked how the 1/1/2026 renewal period differed from previous years, such as 1/1/2023, regarding RenaissanceRe's efforts to work more closely with casualty cedents on claims handling practices and information flow. He also sought clarification on the drivers behind the minor favorable development in casualty, excluding purchase accounting adjustments.

Answer

David Marra, Executive Vice President and Group Chief Underwriting Officer, explained that two strong renewals have led to materially better information and a collaborative process with clients, enabling a deeper understanding of claims trends and business approaches. He noted increased proactivity from insurance carriers in managing claims. Bob Qutub, Executive Vice President and CFO, clarified that the casualty segment experienced favorable development on a cash basis, with purchase accounting adjustments influencing the reported figures.