RenaissanceRe today announced it currently estimates that losses from third quarter 2020 catastrophe events will have an estimated net negative impact of approximately $325 million on its third quarter 2020 results of operations. The estimated net negative impact is primarily driven by losses from Hurricanes Laura and Sally, as well as the wildfires in California, Oregon and Washington. In addition, losses from other catastrophe events including the August 2020 derecho which impacted the U.S. Midwest, Hurricane Isaias and Typhoon Maysak, as well as aggregate losses associated with these and other events, contributed to the estimated net negative impact. These events caused widespread damage to both personal and commercial property in and around the impacted regions. For the third quarter of 2020, the Company expects to report modest net income available to common shareholders; however, it expects to report an operating loss attributable to common shareholders.

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