Fitch affirms RenaissanceRe

Fitch Ratings said it affirmed the A- long-term and senior debt ratings and BBB+ preferred stock rating on RenaissanceRe Holdings, Ltd. (RenRe).

Additionally, Fitch said it affirmed the BBB+ rating on Renaissance Re Capital Trust's capital securities and has assigned an A+ insurer financial strength rating to RenRe's lead operating subsidiary, Renaissance Reinsurance Ltd.

The outlook is stable.

Fitch said its rating actions reflect RenRe's sound underwriting skills, strong competitive position in the property/CAT reinsurance market, favorable long-term earnings trends and solid capitalization.

Partially offsetting these positive factors is the affect on earnings and capital of the underwriting volatility inherent in the company core property/catastrophe reinsurance product, Fitch noted.

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