• RenaissanceRe Holdings average gross margin for 2023 was 24.74%, a 266.49% increase from 2022.
• RenaissanceRe Holdings average gross margin for 2022 was -14.86%, a 248.01% decline from 2021.
• RenaissanceRe Holdings average gross margin for 2021 was 10.04%, a 60.57% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.