RenaissanceRe Holdings has reported a net income available to common shareholders of $24.8m or $0.48 per diluted common share in the second quarter of 2011, compared to $210.2m or $3.66 per diluted common share for the second quarter of 2010.
The total revenues reported for the second quarter of 2011 was $280.92m, compared to $306.40m for the same quarter of the previous year.
Operating loss available to common shareholders was $10.2m or $0.21 per diluted common share for the second quarter of 2011, compared to operating income available to common shareholders of $139.9m or $2.40 per diluted common share in the second quarter of 2010.
Net premiums written for the second quarter of 2011 were $427m, compared to $329m in the second quarter of 2010.
RenaissanceRe Holdings CEO Neill Currie said the results for the quarter were impacted by $70.8m of net losses from the tornado activity in the US.
"As a result, we reported $24.8m of net income, a $10.2m operating loss and a 0.5% increase in book value per share in the quarter," Currie said.