RenaissanceRe Holdings Ltd.

The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is a one-stop resource for information on insurance or reinsurance linked investment managers and their ILS fund strategies.

RenaissanceRe Holdings Ltd. - snapshot

  • ILS manager or company name: RenaissanceRe Holdings Ltd.
  • Location (HQ / Domicile): Bermuda
  • Date of launch: 1993
  • Assets under management *: $4.9 billion (at Jan 1st 2019; excludes Top Layer Reinsurance Ltd.)
  • Website link: RenaissanceRe Holdings Ltd. website

RenaissanceRe Holdings Ltd. - Details

Company profile:

RenaissanceRe Holdings Ltd. (“RenRe” or “RenaissanceRe”) is a New York Stock Exchange listed company (NYSE: RNR) and a leading provider of property catastrophe and specialty reinsurance and insurance worldwide.

An established third-party capital manager for over a decade, RenaissanceRe also matches capital markets capacity with risk across a broad spectrum of structures.

Our subsidiaries, RenaissanceRe Underwriting Mangers, Ltd. (“RUM”) and RenaissanceRe Fund Management Ltd. (“RFM”), are part of our Ventures unit and provide third-party capital and reinsurance-linked investment management opportunities to investors.

RenaissanceRe had total capital of $6.6 billion as at 12/31/2018.

RenaissanceRe, through RUM, RFM and other affiliates also manages approximately $4.1 billion of capital in various structures including DaVinci Reinsurance Ltd. (“DaVinci”), RenaissanceRe Medici Fund Ltd. (“Medici”), RenaissanceRe Upsilon Fund (“Upsilon”), Vermeer Reinsurance Ltd. (“Vermeer”), Fibonacci Re Ltd. (“Fibonacci”), and Langhorne Re Ltd. (“Langhorne Re”).*

*excludes Top Layer Reinsurance Ltd. ($4bn at Dec 31st 2018).

RUM was formed in 1999 and RFM was formed in 2009.

Team size and structure:

The Ventures unit structures and manages joint ventures as well as other strategic relationships that leverage RenaissanceRe’s underwriting expertise and experience.

Number of strategies (how many funds, sidecars or strategies):

7

Offers private managed accounts?

Yes

Other offices or locations:

Ireland, Singapore, United Kingdom, Switzerland and the United States

Strategy:

RenaissanceRe was established in Bermuda in 1993 to write principally property catastrophe reinsurance and today is a leading global provider of reinsurance and insurance coverages and related services.

Our aspiration is to be the world’s best underwriter by matching well-structured risks with efficient sources of capital. Through our operating subsidiaries, we seek to produce superior returns for our shareholders by being a trusted, long-term partner to our customers for assessing and managing risk, and by delivering responsive solutions.

We accomplish this by leveraging our core capabilities of risk assessment and information management, by investing in our capabilities to serve our customers across the cycles that have historically characterised our markets and by keeping our promises. Overall, our strategy focuses on superior risk selection, superior customer relationships and superior capital management.

We provide value to our customers and joint venture partners in the form of financial security, innovative products, and responsive service.

DaVinciRe Holdings Ltd.

Principally writes property catastrophe reinsurance and certain low frequency, high severity specialty reinsurance lines of business on a global basis.

Global Diversified Property Catastrophe. Investors have an equity ownership and buy and sell at book value. DaVinci has an “A” rating from A.M. Best, a “AA-” rating from Standard & Poor’s, and an “A3” rating from Moody’s.

Type of investment strategy (fund, sidecar etc):

BMA registered Class 4 reinsurer

Launch date:

Oct 2001

Latest AuM:

$1.5 billion as of Jan 1, 2019

Underlying asset types:

Global diversified property catastrophe reinsurance and retrocessional coverage.

RenaissanceRe Medici Fund Ltd.

Investing in various insurance-based investment instruments that have returns primarily tied to property catastrophe risk.

Type of investment strategy (fund, sidecar etc):

Insurance-Linked Securities Fund

Launch date:

Oct 2009

Latest AuM:

$500 million as of Jan 1, 2019

Underlying asset types:

Insurance-linked securities (e.g. catastrophe bonds)

RenaissanceRe Upsilon Fund

Investing in a portfolio of primary reinsurance, retrocessional reinsurance and other insurance-linked securities.

Type of investment strategy (fund, sidecar etc):

Open-ended fund company

Launch date:

Jan 2015

Latest AuM:

$1.4 billion as of Jan 1, 2019 (includes RenRe’s co-invest portion)

Underlying asset types:

Collateralized reinsurance, retrocession and catastrophe bonds

Vermeer Reinsurance Ltd.

Vermeer is an exempted Bermuda reinsurer, formed with PGGM, a Dutch pension fund manager, that provides capacity focused on risk remote layers in the U.S. property catastrophe market. Vermeer has an “A” rating from A.M. Best.

Type of investment strategy (fund, sidecar etc):

BMA Class 3B reinsurer

Launch date:

Dec 2018

Latest AuM:

$600 million as of Jan 1, 2019

Underlying asset types:

U.S. Cat XOL reinsurance, risk remote layers

Fibonacci Re Ltd.

Investing in a portfolio of reinsurance contracts which are securitised to provide a catastrophe bond-like investment.

Type of investment strategy (fund, sidecar etc):

Sidecar

Launch date:

Jan 2017

Latest AuM:

$100 million as of Jan 1, 2019 (includes RenRe’s co-invest portion)

Underlying asset types:

Collateralized reinsurance

Langhorne Re Ltd.

Life and annuities focused joint-venture with Reinsurance America Group (RGA), capitalised by institutional third-party investors.

Launch date:

Jan 2018

Latest AuM:

$780 million as of Jan 1, 2019

Underlying asset types:

Life & annuity reinsurance

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Disclaimer:

The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is provided as-is. Best efforts are made to ensure the contents are accurate at the time of publication but there may be some omissions. Please contact Artemis should you require a change to your listing.