NYSE Shariah screener · October 2026

Is RenaissanceRe Holdings Ltd. (RNR) Halal?

FAIL

RenaissanceRe Holdings Ltd. · NYSE: RNR · Financials

The short answer

RenaissanceRe fails the Shariah business-activity gate: it is a conventional reinsurer and insurer. Net investment income of $1,703.5M is 13.3% of revenue (over the 5% ceiling), and total debt of $2,330.9M is 17.3% of its ~$13.44 billion market cap.

Gate 1 — Business activity: FAIL

Gate 1 — business activity: FAIL. RenaissanceRe Holdings Ltd., per its FY2025 Form 10-K, is a Bermuda-based global provider of reinsurance and insurance solutions (founded 1993), focused on property catastrophe reinsurance - coverage for hurricanes, earthquakes, and other natural disasters - plus property, casualty, and specialty reinsurance. It acquired Validus Re from AIG for $3 billion (November 2023), Tokio Millennium Re ($1.5 billion, 2019), and Platinum Underwriters ($1.9 billion, 2015), and renewed its share repurchase authorization to $750 million in July 2026.

This is a conventional reinsurer and insurer: underwriting reinsurance and earning investment income on float is the core business. Conventional insurance is the business, not an ancillary line. The business fails gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (17.3%, ceiling 33%). Per RenaissanceRe's Q2 2026 Form 10-Q consolidated balance sheet, total debt was about $2,330.9 million (FY2025: $2,329.2 million).

$2,330.9 million against a market capitalization of about $13.44 billion (Finnhub, October 2, 2026; NYSE: RNR) is about 17.3%, under the 33% ceiling. The debt gate passes, but the result is moot given the business-gate failure.

Gate 3 — Non-compliant income: FAIL

Gate 3 — non-compliant income: FAIL (13.3%, ceiling 5%). RenaissanceRe's filings report net investment income of $1,703.5 million against total revenue of $12,848.1 million - about 13.3%, over the 5% non-compliant income ceiling. (The company does not disclose a separate interest-income line; net investment income is the pipeline-consistent numerator for insurers.)

Investment income on float is core to the reinsurance business model. Expected for a conventional reinsurer, and reported for the record.

Key figures used

Business: Bermuda-based global reinsurer/insurer (founded 1993) — property catastrophe reinsurance (hurricanes, earthquakes), property, casualty, specialty reinsurance
Haram assessment: conventional reinsurer and insurer — underwriting + investment income on float is the core business (not an ancillary line); fails business-activity gate
Debt: $2,330.9M total debt (Q2 2026 10-Q; FY2025: $2,329.2M) ÷ ~$13.44B market cap (Finnhub, Oct 2, 2026) = 17.3% — under the 33% ceiling (moot, business gate fails)
Investment income: $1,703.5M net investment income (no separate interest-income line) ÷ $12,848.1M revenue = 13.3% — over the 5% ceiling
Market data: NYSE-listed (RNR); still listed on NYSE (confirmed October 2, 2026; Finnhub XNYS live quote; no delisting; no ticker reassignment)
Corporate actions: Validus Re acquired from AIG ($3B, Nov 2023); Tokio Millennium Re ($1.5B, 2019); Platinum Underwriters ($1.9B, 2015); $750M buyback renewed Jul 2026; CFO/COO retiring Dec 31, 2026
Third-party: Zoya flags RNR not Shariah-compliant (Aug 2026) — consistent with this FAIL; no verifiable Musaffa or ShariaPortfolio rating

Frequently asked questions

What does RenaissanceRe do?

RenaissanceRe Holdings Ltd. (NYSE: RNR) is a Bermuda-based global provider of reinsurance and insurance solutions, founded in 1993. Per its FY2025 Form 10-K, it focuses on property catastrophe reinsurance (hurricanes, earthquakes, and other natural disasters) plus property, casualty, and specialty reinsurance. It acquired Validus Re from AIG for $3 billion (November 2023), Tokio Millennium Re ($1.5 billion, 2019), and Platinum Underwriters ($1.9 billion, 2015). Its CFO/COO retires December 31, 2026.

Is RenaissanceRe's business Shariah compliant?

No - RenaissanceRe fails the business-activity gate. It is a conventional reinsurer and insurer: underwriting reinsurance and earning investment income on float is the core business. Conventional insurance is the business, not an ancillary line. Assessed on the filed business description and consistent with this screener's treatment of conventional insurers, the business fails this screener's first gate.

How much interest-bearing debt does RenaissanceRe have?

RenaissanceRe's Q2 2026 Form 10-Q reports total debt of about $2,330.9 million (FY2025: $2,329.2 million). Against a market capitalization of about $13.44 billion (Finnhub, October 2, 2026), that is about 17.3% - under the 33% ceiling. The debt gate passes, but the result is moot given the business-gate failure.

How much interest income does RenaissanceRe earn?

RenaissanceRe's filings report net investment income of $1,703.5 million against total revenue of $12,848.1 million - about 13.3%, over the 5% non-compliant income ceiling. (The company does not disclose a separate interest-income line; net investment income is the pipeline-consistent numerator for insurers.) Expected for a conventional reinsurer, and reported for the record.

What do third-party Shariah screeners say about RenaissanceRe?

Zoya flags RNR as not Shariah-compliant (August 2026), consistent with this page's FAIL. I could not verify a Musaffa rating page for RNR or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).