The TimesSquare U.S. Focus Growth Strategy has exited its position in RenaissanceRe Holdings Ltd. (RNR), marking a strategic shift after a mixed third-quarter result. The move follows a decline in underwriting profitability and elevated catastrophe losses.
- TimesSquare U.S. Focus Growth Strategy exited RenaissanceRe Holdings Ltd. (RNR) after Q3 2025.
- RNR reported a net loss of $83 million in Q3, compared to $229 million net income in Q3 2024.
- Catastrophe losses totaled $318 million in Q3, primarily from U.S. and European weather events.
- RNR’s combined ratio reached 108.2% in Q3, up from 101.3% in the prior-year quarter.
- RNR’s share price declined 17.3% in the quarter, outpacing the broader insurance sector.
- TimesSquare has reallocated capital to technology and healthcare sectors with stronger growth profiles.
The TimesSquare U.S. Focus Growth Strategy has fully divested from RenaissanceRe Holdings Ltd. (RNR), according to updated portfolio disclosures. The exit comes after the reinsurer reported a third-quarter net loss of $83 million, compared to a net income of $229 million in the same period a year earlier. This reversal was driven by $318 million in catastrophe-related losses, primarily from hurricanes and wildfires in the U.S. and Europe. RNR’s combined ratio widened to 108.2% in Q3, up from 101.3% in Q3 2024, signaling deteriorating underwriting performance. The company’s core reinsurance segment posted a 12.7% decline in gross written premiums, while investment income fell 8% year-over-year amid rising interest rate volatility. The divestment reflects a broader reassessment of risk exposure within the strategy’s portfolio. TimesSquare’s decision follows a 17.3% drop in RNR’s share price during the quarter, which outpaced the broader insurance sector’s decline of 9.1%. The strategy has since reallocated capital to high-growth technology and healthcare firms with stronger earnings momentum and lower cyclical volatility. Market analysts note that the exit could signal increased caution toward property and casualty reinsurance stocks amid rising climate risks and a challenging rate environment. RNR’s board has initiated a review of its capital allocation framework, though no immediate changes to dividends or share buybacks are expected.