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RenaissanceRe reports Q4 net loss

RenaissanceRe has reported that its net loss attributable to common shareholders was $55.2 million

RenaissanceRe has reported that its net loss attributable to common shareholders was $55.2 million, or $0.91 per diluted share, in the fourth quarter of 2008, compared to net income available to common shareholders of $62.2 million, or $0.88 per diluted share, for the same quarter of 2007.

The company has reported $28.7 million in 2008 fourth quarter operating income available to common shareholders, or $0.47 per diluted share, compared to $186.2 million, or $2.64 per diluted share, in the fourth quarter of 2007.

Net investment loss was $82.7 million in the fourth quarter of 2008, compared to net investment income of $80.7 million in the fourth quarter of 2007, a decrease of $163.4 million.

For the year ended December 31, 2008, net loss attributable to common shareholders was $13.3 million, or $0.21 per diluted share, compared to net income available to common shareholders of $569.6 million, or $7.93 per diluted common share, in 2007.

For the year ended December 31, 2008, the company generated operating income available to common shareholders of $193 million, compared to $735.5 million in 2007. Net investment income was $24.2 million in 2008 compared to $402.5 million in 2007, a decrease of $378.2 million.