RenaissanceRe downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded RenaissanceRe (RNR) to Underweight from Equal Weight with a price target of $234, down from $284. The firm sees a less favorable setup for RenaissanceRe in 2025. There are earnings pressures across property catosprohe related to reductions in pricing at renewals as well as higher expected loss ratios in casualty, the analyst tells investors in a research note. Barclays expects the company’s earnings to trend lower than consensus.