Renaissance Re news

Fresh capital raising for 2019 in its Upsilon vehicle has taken RenaissanceRe’s third-party reinsurance and insurance-linked securities (ILS) capital under management close to $5 billion.

Reinsurance firm and third-party capital manager RenaissanceRe grew its insurance-linked securities (ILS) assets under management (AuM) by $500 million in 2018, with much of the increase coming from its recently launched Vermeer Reinsurance Ltd. strategy as well as growth in its Upsilon vehicle.

Bermudian reinsurance firm and third-party capital manager RenaissanceRe is forecast to gain market share in insurance-linked securities (ILS) management by the equity analysts at Keefe, Bruyette & Woods.

RenaissanceRe’s CEO said that as part of the Bermudian reinsurance firm and third-party capital manager’s acquisition of Tokio Millennium Re it will, alongside Tokio Marine, offer continuity to the fronting cedants and business partners for a defined period.

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.

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.

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.

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.

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.

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.