12 High Growth International Stocks to Invest in Now

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8. RenaissanceRe Holdings Ltd. (NYSE:RNR)

10-Year Revenue Growth Rate: 25.19%

Number of Hedge Fund Holders: 29

RenaissanceRe Holdings Ltd. (NYSE:RNR) is an insurance company that primarily provides reinsurance and insurance services. The company is based in Bermuda and has offices internationally including the United Kingdom, United States, Australia, and Singapore. RenaissanceRe Holdings Ltd. (NYSE:RNR) specializes in providing property and casualty reinsurance services, focusing on matching desirable risks with efficient capital solutions.

The company has seen significant growth in its Property and Specialty business segments, with revenue increases ranging from 35% to 75%. Moreover, the company has also benefited from the high interest rates as it generated increased investment incomes. The combination of elevated interest rates and enhanced asset leverage has allowed investment income to contribute significantly to overall earnings.

During the fiscal third quarter of 2024, RenaissanceRe Holdings Ltd. (NYSE:RNR) generated over $540 million in operating income, which corresponds to a 22% return on equity. Management attributed strong performance to effective performance across underwriting, investments, and capital management. The company reported writing $2.4 billion in gross premiums, a substantial rise from $1.62 billion during the same period in 2023. On January 14, Wells Fargo cut its price target from $301 to $288, however, the firm maintained its Overweight rating on the stock indicating potential upside in the future.

TimesSquare Capital U.S. Focus Growth Strategy stated the following regarding RenaissanceRe Holdings Ltd. (NYSE:RNR) in its Q3 2024 investor letter:

“RenaissanceRe Holdings Ltd. (NYSE:RNR), a provider of reinsurance and insurance services, surged ahead by 22%. Solid second quarter results were generated by favorable reserve releases in the Catastrophe, Casualty, and Specialty segments. There were also lower than anticipated losses in their Total Property business. Net investment income and share buybacks also exceeded projections.”

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