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RenaissanceRe Reports Net Income Available To Common Shareholders

Reinsurance segment generated $212.4 million of underwriting income and had a combined ratio of 6.8%

RenaissanceRe Holdings has reported net income available to common shareholders of $271.2 million, or $4.32 per diluted common share, in the second quarter, as compared to net income available to common shareholders of $135.7 million or $2.13 per diluted common share for the same quarter of 2008.

Operating income available to common shareholders was $254.1 million, or $4.05 per diluted common share in second quarter, compared to operating income available to common shareholders of $159.9 million, or $2.50 per diluted common share for the same quarter of 2008.

The company generated $213.6 million of underwriting income and had a combined ratio of 43.8% in the second quarter of 2009, compared to $175.2 million of underwriting income and a 53.5% combined ratio in the second quarter of 2008.

RenaissanceRe’s Reinsurance segment generated $212.4 million of underwriting income and had a combined ratio of 6.8% in the second quarter of 2009, as compared to $157.9 million of underwriting income and a combined ratio of 30.2% in the second quarter of 2008.

Net investment income was $114.3 million in the second quarter of 2009, as compared to net investment income of $38.7 million in the second quarter of 2008.