RenaissanceRe Expects Q1 Loss from U.S. Winter Storm Uri

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.