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RenRe uses private debt to raise capital for DaVinci Re joint-venture

Bermudian reinsurance firm RenaissanceRe is raising capital for its DaVinci Re Holdings joint-venture through a $150m debt issuance, with the proceeds set to repay a loan made by RenRe to the venture, to repurchase shares or for corporate needs.The DaVinci Re vehicle is largely third-party capitalised, but RenaissanceRe has been read the full article →

DaVinci “core and strategic” to RenaissanceRe’s reinsurance business: Moody’s

DaVinci Re, the joint-venture largely third-party capitalised reinsurance sidecar, is both "core and strategic" to Bermudian reinsurer RenaissanceRe's business and future, according to rating agency Moody's Investors Service.The DaVinci Re sidecar vehicle has been a growing piece of RenaissanceRe's catastrophe reinsurance business since its launch in 2001. Over time it read the full article →

RenaissanceRe maintains discipline, grows ILS & third-party assets managed

Bermuda-based reinsurer and third-party reinsurance capital management specialist RenaissanceRe has maintained its disciplined approach to the challenging reinsurance market, pulling back on catastrophe business, while growing other lines.RenaissanceRe has been pulling back from the areas of the reinsurance market which have seen prices softening and terms expanding most dramatically, which read the full article →

Despite Monte Carlo reinsurance fillip, risk of disappointment remains

For reinsurers the Monte Carlo reinsurance Rendez-vous has provided a fillip, defined as a stimulus to activity, but this is likely to be shortlived say analysts at Keefe, Bruyette & Woods, who say that the risk of disappointment looms large over the sector.KBW analysts discussed their takeaways from meetings with read the full article →

RenaissanceRe pulls back on catastrophe risk, DaVinci profits rise

Bermuda-based reinsurer and third-party reinsurance capital management specialist RenaissanceRe has pulled back dramatically on catastrophe premiums written as the firm showed it will do whatever is necessary to avoid underpriced business.RenaissanceRe has always said that it would not underwrite catastrophe reinsurance at any cost and the firms second quarter results read the full article →

Third Point Re reports 129% increase in net income for year-two

Bermuda-based property and casualty reinsurance firm Third Point Reinsurance Ltd., backed by hedge fund manager Dan Loeb’s Third Point LLC, reported a 129% increase in net income for the full-year 2013.Strong investment results at Third Point Re, whose investable assets are manged by Daniel Loeb's Third Point LLC hedge fund read the full article →

Third Point Reinsurance appoints audit committee Chairman

Bermuda-based provider of property and casualty reinsurance Third Point Reinsurance Ltd., which is backed by hedge fund manager Dan Loeb’s Third Point LLC, has announced the appointment of Mark Parkin as Chairman of its Audit Committee.Mark Parkin was appointed to Third Point Re's board of directors in November, since which read the full article →

Third Point Re hires Nicholas Campbell as SVP Underwriting from Endurance

Bermuda-based provider of property and casualty reinsurance Third Point Reinsurance Ltd., backed by hedge fund manager Dan Loeb’s Third Point LLC, has hired Nicholas Campbell as Senior Vice President, Underwriting.Campbell, most recently an EVP and Chief Risk Officer at Bermuda-based insurer and reinsurer Endurance Specialty Holdings Ltd., joins Third Point read the full article →

Hedge funds and equity managers invest in Third Point Re

Institutional hedge fund and equity investment managers have taken stakes in Bermuda-based reinsurer Third Point Reinsurance Ltd. The hedge-fund type reinsurer clearly resonates with large hedge funds such as Citadel and equity focused managers like Cambiar, both of which hold large stakes.Citadel LLC, a large hedge fund owned by investor read the full article →

Third Point Re reports improved underwriting, investment results

The third-quarter results reported by Bermuda-based reinsurer Third Point Reinsurance Ltd., backed by hedge fund manager Dan Loeb’s Third Point LLC, show improvements in underwriting and investment returns as well as growing income from its catastrophe fund business."Following our initial public offering in August 2013, we are off to a read the full article →