Renaissance Re news

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.

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.

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.

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.

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.

Bermuda domiciled reinsurance firm and third-party or ILS capital manager RenaissanceRe (RenRe) saw a decline in its catastrophe premiums written during the first-quarter of 2016, but its third-party backed rated sidecar DaVinci Re profited from lower catastrophe experience and it added third-party capital.

Bermudian reinsurance company and third-party capital management specialist RenaissanceRe increased the managed catastrophe premiums it underwrote during the fourth-quarter of 2015, year-on-year, and also looks to have raised some new capital from third-party investors.

Bermudian reinsurance firm and third-party capital management specialist RenaissanceRe remains committed to “generating superior returns for our shareholders and third party capital providers” as the firm reported a more stable quarter.

Bermudian reinsurance firm and third-party capital management specialist RenaissanceRe continued to display its disciplined approach to market conditions, pulling back further on catastrophe reinsurance underwriting across managed and owned premiums.

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.