RenaissanceRe revises 3Q results (December 01, 2005)

RenaissanceRe Holdings Ltd. recently revised its previously reported third-quarter results, cutting net loss for the third quarter of 2005 by $34.8 million to $71.0 million.

Renaissance claims the loss was caused by related hurricane catastrophes.

“A reinsurance recovery within (RenaissanceRe’s) reinsurance segment that was triggered by the publication of a final third-party industry loss estimate,” Reannaissance Re says.

The Company’s net loss attributable to shareholders for the first nine months of the year has been reduced from $105.8 million to $71.0 million, compared with a restated loss of $58.4 million in the year-earlier period.