RenaissanceRe Medici Fund Ltd.

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 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-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.

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.

RenaissanceRe, the Bermudian reinsurance firm, has a long history of bringing third-party capital from institutional investors and joint-venture partners into its underwriting business. The reinsurer believes that its ability to play between a rated balance sheet and third-party capital is the optimal structure for most scenarios.

Bermuda based reinsurance firm RenaissanceRe has begun managing third-party investor capital in its Medici insurance-linked securities (ILS) fund for the first time. The RenaissanceRe Medici Fund Ltd. has existed since 2009 but has only invested RenRe’s own capital in catastrophe bonds until now.