Langhorne Re

RenaissanceRe, the global reinsurance company and third-party capital manager, continued to have great success in raising funds from third-party investors for its range of joint-venture and insurance-linked securities (ILS) structures, adding just over $767 million so far in 2023, with its Medici catastrophe bond fund strategy taking more than half the inflows.

The fact RenaissanceRe continued to raise third-party investor funds for its Capital Partners business through 2022 and into 2023 demonstrates that this is a permanent part of the reinsurance firm’s capital base, CEO Kevin O’Donnell explained recently.

RenaissanceRe, the global reinsurance firm and third-party capital management specialist, saw its third-party capital assets under management dedicated to property and casualty business rise by $610 million since September 30th 2022, with the total reaching a new high at January 1st 2023.

Artemis has learned that Langhorne Re, the third-party capitalised life and annuity reinsurance joint venture launched by RenaissanceRe (RenRe) and life focused reinsurer Reinsurance Group of America (RGA) back in 2018, is being wound down after its capital commitments expired without renewal.

RenaissanceRe’s CEO Kevin O’Donnell is bullish about his firm’s prospects for 2023, particularly in property catastrophe reinsurance where he expects the reset, higher rate environment will persist throughout the year.

The leadership at RenaissanceRe, the global reinsurance firm and third-party capital manager, expects fee income from the Capital Partners and related insurance-linked securities (ILS) capital management business will trend higher this year, as the unit’s scale and AuM increases.

RenaissanceRe, the global reinsurance firm and third-party capital manager,raised an additional almost $403 million of capital from third-party investors in time for the January 2023 renewal season, with the vehicles benefiting being its DaVinci Re sidecar and its catastrophe bond fund Medici.

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has seen a decline in its external capital under management, across joint-venture and ILS fund structures during the third-quarter, as the total fell by 5.5% to roughly $6.32 billion due to losses from hurricane Ian.

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has made some changes at the top, promoting David Marra to Group Chief Underwriting Officer, while Ross Curtis moves into the new role of Chief Portfolio Officer.

RenaissanceRe, the Bermuda headquartered reinsurance and third-party capital management specialist, passed on some $372.4 million of losses to investors in some of its managed reinsurance structures during the third-quarter, with hurricane Ian the main driver.