Renaissance Re news

DaVinci Re, the joint-venture largely third-party capitalised reinsurance sidecar, is both “core and strategic” to Bermudian reinsurer RenaissanceRe’s business and future, according to rating agency Moody’s Investors Service.

Bermuda-based reinsurer and third-party reinsurance capital management specialist RenaissanceRe has maintained its disciplined approach to the challenging reinsurance market, pulling back on catastrophe business, while growing other lines.

Bermuda-based reinsurer and third-party reinsurance capital management specialist RenaissanceRe is not actively looking for new third-party investors in the current reinsurance market environment, according to CEO Kevin O’Donnell.

Bermuda-based reinsurer and third-party reinsurance capital management specialist RenaissanceRe has pulled back dramatically on catastrophe premiums written as the firm showed it will do whatever is necessary to avoid underpriced business.

Kevin O’Donnell, President and CEO of Bermuda-based reinsurer and third-party capital management specialist RenaissanceRe, said that at a macro level there is evidence of discipline being lost and risk being priced inadequately in the reinsurance market.

Bermuda-based reinsurance and third-party capital management specialists RenaissanceRe has given a clear example in its results of the increasing move by property catastrophe focused reinsurers to grow their business using specialty lines.

Bermuda-based reinsurance and third-party capital management specialists RenaissanceRe has revealed a renaming of the firms Upsilon retrocessional reinsurance sidecar for 2014, changing it to Upsilon Reinsurance Fund Opportunities Ltd.

Bermudian reinsurer RenaissanceRe is working to expand its activities in the retrocession space through the renewal and expansion of its Upsilon Reinsurance sidecar series, as it attempts to capture what it sees as attractive opportunities in the retro reinsurance market.

RenaissanceRe, the Bermuda-based property catastrophe reinsurance firm, stands better positioned than many of its competitors to weather the increasing competition from alternative sources of reinsurance capital, according to rating agency Moody’s Investors Service.

Interesting acquisition news today as the world’s largest reinsurance firm Munich Re announced it has reached an agreement with Bermudian reinsurer RennaissanceRe to acquire RenRe’s weather and weather-related energy risk management unit, RenRe Energy Advisors Ltd.