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RenaissanceRe to acquire Tokio Millennium Re for $1.5bn

RenaissanceRe, the Bermudian reinsurer and third-party reinsurance capital management veteran, is set to acquire the Tokio Millennium Re reinsurance operations of Japanese giant Tokio Marine, in an acquisition valued at $1.5 billion that brings together an ILS capital manager and a leading reinsurer that also operates as an ILS facilitator.The read the full article →

Catastrophe pull-back resumes at RenRe in Q2, but profitability rises

In the second-quarter of 2017 Bermuda domiciled reinsurance firm RenaissanceRe (RenRe) resumed its pull-back on catastrophe reinsurance underwriting, with lower catastrophe and managed catastrophe premiums written, but profitability improved including for its third-party capitalised sidecar vehicle, DaVinciRe.RenRe runs a number of joint-ventures and third-party capital backed reinsurance vehicles, collateralised reinsurance read the full article →

Q1 2017 catastrophe premiums up at RenRe, DaVinci profits decline

Bermuda domiciled reinsurer RenaissanceRe (RenRe) has reported growth in its managed catastrophe premiums in the first-quarter of 2017, to $426.8 million, although its net income was negatively impacted by a decline in the profitability of its third-party sidecar vehicle, DaVinci Re.The reinsurer operates a number of joint-ventures and third-party backed read the full article →

Written managed catastrophe premiums decline further for RenRe

Bermudian reinsurer RenaissanceRe (RenRe) has reported a reduction in managed catastrophe premiums during the fourth-quarter and full-year, 2016, and also revealed that it took in more capital for its Upsilon funds in the period.According to its recent financial results release, RenRe’s managed catastrophe premiums fell by roughly 47% in the read the full article →

RenaissanceRe Ventures Dutt takes on Treasurer role in exec changes

Bermuda headquartered reinsurance group RenaissanceRe Holdings Ltd. has announced a number of senior executive changes, one of which will see the companies Ventures unit President Aditya Dutt also taking on the role of RenRe Treasurer.Aditya Dutt is President of RenaissanceRe Ventures, Ltd., the unit that manages the reinsurance firms third-party read the full article →

RenRe’s Medici ILS fund grows to $284m, Upsilon shrinks further in Q3

RenaissanceRe (RenRe) has continued to expand its Medici ILS fund offering which now has assets under management of $284 million, while its Upsilon retrocessional reinsurance focused fund continued to shrink in the third-quarter of 2016 as a response to market conditions.The Bermuda-headquartered reinsurance firm and third-party, or ILS, capital manager read the full article →

RenaissanceRe writes fewer managed catastrophe premiums in Q3 2016

Bermudian reinsurer and third-party capital management specialist RenaissanceRe reported a 14.8% decline in managed catastrophe premiums in the third-quarter, year-on-year, totalling $76.9 million.The Bermuda domiciled reinsurance company recently reported its third-quarter and nine-month 2016 financial results, which reveals a decline in the underwriting income of its catastrophe reinsurance segment as read the full article →

Changes at RenRe Ventures, as Parry starts Morgenstern departs

Chris Parry, previously an ILS, reinsurance capital markets and catastrophe bond specialist at Aon Securities, has begun his new role as a Managing Director in Bermudian reinsurer RenaissanceRe’s Ventures unit.Parry left Aon Securities at the end of May, after seven years at the capital markets broking unit during which time read the full article →

DaVinci Re continues to perform for investors despite catastrophe losses

Bermuda-based reinsurance firm RenaissanceRe’s (RenRe) third-party backed rated sidecar vehicle, DaVinci Re, was profitable again in the second-quarter, despite increased catastrophe losses, underlining the important role third-party capital continues to play in the firm’s multiple balance-sheet strategy.DaVinci Re, RenRe’s catastrophe reinsurance focused vehicle, reported a net income of $37.2 million read the full article →

RenaissanceRe grows Medici ILS fund, shrinks Upsilon ILS fund

Bermuda headquartered reinsurance firm and third-party, or ILS, capital manager RenaissanceRe (RenRe) has adjusted the size of two of its ILS fund vehicles in recent months, growing the Medici Fund but shrinking the Upsilon Funds.The changes to the RenaissanceRe Medici Fund (Medici Fund), Upsilon Collateralized Fund and RenaissanceRe Diversified Fund read the full article →