vs
RENAISSANCERE HOLDINGS LTD（RNR）与HANOVER INSURANCE GROUP, INC.（THG）财务数据对比。点击上方公司名可切换其他公司
RENAISSANCERE HOLDINGS LTD的季度营收约是HANOVER INSURANCE GROUP, INC.的1.3倍（$2.2B vs $1.7B），RENAISSANCERE HOLDINGS LTD净利率更高（23.5% vs 11.9%，领先11.6%），HANOVER INSURANCE GROUP, INC.同比增速更快（5.5% vs -36.8%），过去两年HANOVER INSURANCE GROUP, INC.的营收复合增速更高（3.8% vs -11.9%）
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
汉诺威保险集团是总部位于美国马萨诸塞州伍斯特市的保险企业，1852年成立时主营财产责任保险，以原名公开上市交易，直至上世纪90年代初更名为Allmerica财产意外伤害保险公司。
RNR vs THG — 直观对比
营收规模更大
RNR
是对方的1.3倍
$1.7B
营收增速更快
THG
高出42.3%
-36.8%
净利率更高
RNR
高出11.6%
11.9%
两年增速更快
THG
近两年复合增速
-11.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.7B |
| 净利润 | $515.8M | $198.5M |
| 毛利率 | — | — |
| 营业利润率 | — | 17.3% |
| 净利率 | 23.5% | 11.9% |
| 营收同比 | -36.8% | 5.5% |
| 净利润同比 | 72.6% | 18.2% |
| 每股收益（稀释后） | $6.57 | $5.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收RNRTHG
| Q1 26 | $2.2B | — | ||
| Q4 25 | $3.0B | $1.7B | ||
| Q3 25 | $3.2B | $1.7B | ||
| Q2 25 | $3.2B | $1.7B | ||
| Q1 25 | $3.5B | $1.6B | ||
| Q4 24 | $2.3B | $1.6B | ||
| Q3 24 | $4.0B | $1.6B | ||
| Q2 24 | $2.8B | $1.5B |
净利润RNRTHG
| Q1 26 | $515.8M | — | ||
| Q4 25 | $760.5M | $198.5M | ||
| Q3 25 | $916.5M | $178.7M | ||
| Q2 25 | $835.4M | $157.1M | ||
| Q1 25 | $170.0M | $128.2M | ||
| Q4 24 | $-189.7M | $167.9M | ||
| Q3 24 | $1.2B | $102.1M | ||
| Q2 24 | $503.9M | $40.5M |
营业利润率RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | 42.5% | 17.3% | ||
| Q3 25 | 46.3% | 14.9% | ||
| Q2 25 | 41.8% | 12.7% | ||
| Q1 25 | -2.0% | 11.6% | ||
| Q4 24 | -3.6% | 16.1% | ||
| Q3 24 | 43.7% | 9.6% | ||
| Q2 24 | 25.0% | 6.2% |
净利率RNRTHG
| Q1 26 | 23.5% | — | ||
| Q4 25 | 25.6% | 11.9% | ||
| Q3 25 | 28.7% | 10.7% | ||
| Q2 25 | 26.1% | 9.5% | ||
| Q1 25 | 4.9% | 8.0% | ||
| Q4 24 | -8.3% | 10.6% | ||
| Q3 24 | 29.8% | 6.5% | ||
| Q2 24 | 17.8% | 2.6% |
每股收益（稀释后）RNRTHG
| Q1 26 | $6.57 | — | ||
| Q4 25 | $16.16 | $5.46 | ||
| Q3 25 | $19.40 | $4.90 | ||
| Q2 25 | $17.20 | $4.30 | ||
| Q1 25 | $3.27 | $3.50 | ||
| Q4 24 | $-3.76 | $4.60 | ||
| Q3 24 | $22.62 | $2.80 | ||
| Q2 24 | $9.41 | $1.12 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.6B | $1.1B |
| 总债务越低越好 | — | $843.3M |
| 股东权益账面价值 | $4.3B | $3.6B |
| 总资产 | $53.7B | $16.9B |
| 负债/权益比越低杠杆越低 | — | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资RNRTHG
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.7B | $915.7M | ||
| Q2 25 | $1.4B | $244.1M | ||
| Q1 25 | $1.6B | $315.1M | ||
| Q4 24 | $1.7B | $435.5M | ||
| Q3 24 | $1.6B | $427.1M | ||
| Q2 24 | $1.6B | $337.6M |
总债务RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $843.3M | ||
| Q3 25 | $2.2B | $843.0M | ||
| Q2 25 | $2.3B | $347.8M | ||
| Q1 25 | $2.8B | $722.5M | ||
| Q4 24 | $1.9B | $722.3M | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $2.0B | — |
股东权益RNRTHG
| Q1 26 | $4.3B | — | ||
| Q4 25 | $11.6B | $3.6B | ||
| Q3 25 | $11.5B | $3.4B | ||
| Q2 25 | $10.8B | $3.2B | ||
| Q1 25 | $10.3B | $3.0B | ||
| Q4 24 | $10.6B | $2.8B | ||
| Q3 24 | $11.2B | $2.9B | ||
| Q2 24 | $10.2B | $2.6B |
总资产RNRTHG
| Q1 26 | $53.7B | — | ||
| Q4 25 | $53.8B | $16.9B | ||
| Q3 25 | $54.5B | $16.8B | ||
| Q2 25 | $54.7B | $15.7B | ||
| Q1 25 | $53.6B | $15.5B | ||
| Q4 24 | $50.7B | $15.3B | ||
| Q3 24 | $52.8B | $15.4B | ||
| Q2 24 | $51.6B | $14.9B |
负债/权益比RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | 0.24× | ||
| Q3 25 | 0.19× | 0.25× | ||
| Q2 25 | 0.21× | 0.11× | ||
| Q1 25 | 0.27× | 0.24× | ||
| Q4 24 | 0.18× | 0.25× | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.19× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $378.2M |
| 自由现金流经营现金流 - 资本支出 | — | $377.0M |
| 自由现金流率自由现金流/营收 | — | 22.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | — | 1.91× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | $483.0M | $378.2M | ||
| Q3 25 | $1.6B | $554.4M | ||
| Q2 25 | $1.5B | $206.6M | ||
| Q1 25 | $157.8M | $38.9M | ||
| Q4 24 | $778.9M | $213.5M | ||
| Q3 24 | $1.5B | $394.7M | ||
| Q2 24 | $1.2B | $139.5M |
自由现金流RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | — | $377.0M | ||
| Q3 25 | — | $551.4M | ||
| Q2 25 | — | $204.9M | ||
| Q1 25 | — | $37.1M | ||
| Q4 24 | — | $210.5M | ||
| Q3 24 | — | $392.3M | ||
| Q2 24 | — | $137.3M |
自由现金流率RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 13.3% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | — | 8.9% |
资本支出强度RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.1% |
现金转化率RNRTHG
| Q1 26 | — | — | ||
| Q4 25 | 0.64× | 1.91× | ||
| Q3 25 | 1.73× | 3.10× | ||
| Q2 25 | 1.76× | 1.32× | ||
| Q1 25 | 0.93× | 0.30× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | 1.26× | 3.87× | ||
| Q2 24 | 2.41× | 3.44× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
RNR
暂无分部数据
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
