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RenRe reports $170m cat & $175m COVID (largely property) losses in Q4

RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has pre-announced an expected $345 million of losses from natural catastrophes and COVID-19 suffered during the fourth-quarter of 2020. As a result of these losses, RenaissanceRe (RenRe) says that when it announces its Q4 2020 results in the coming weeks read the full article →

RenRe’s ILS & third-party reinsurance capital vehicles hit $6.9bn

RenaissanceRe, the Bermuda headquartered global reinsurance company, had lifted the amount of assets managed within its third-party capital, joint venture and managed insurance-linked securities (ILS) fund vehicles to $6.9 billion by October 2020, with these structures now getting close to equalling the reinsurers own capital base. RenaissanceRe's $6.9 billion of insurance-linked read the full article →

COVID & business interruption to elevate rated paper preference: RenRe CEO

The experience of the reinsurance market with COVID-19 and business interruption, as well as the expectation that uncertainty will persist over the eventual industry loss impact of the pandemic, will all combine to elevate the preference of cedents for rated paper, RenaissanceRe's CEO believes. Kevin O'Donnell, speaking during his firms third-quarter read the full article →

RenRe’s third-party capital business hit by large losses in Q3

Large loss events in the third-quarter of 2020 dented performance at Bermuda based reinsurance firm RenaissanceRe's third-party capital joint ventures and managed insurance-linked securities (ILS) funds, resulting in a decline in performance fees. RenaissanceRe (RenRe) had already pre-announced an expected hit to its third quarter 2020 results of operations from major read the full article →

RenRe’s third-party investors have “right of incumbency” – CEO O’Donnell

RenaissanceRe, the Bermuda headquartered specialty re/insurer and third-party reinsurance capital manager, has raised capital across numerous platforms over the last year, but the company always ensures investors have a "right of incumbency" on the deals they are already on, according to its CEO. RenaissanceRe (RenRe) has been raising third-party capital for read the full article →

RenRe raises another $250m of third-party capital in Q2, fee income rises

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has raised an additional $250 million of capital from third-party investors for some of its ILS and joint-venture vehicles in the second-quarter of 2020, with the growing capital under management now driving increased fee income. RenaissanceRe's (RenRe) range of third-party capital read the full article →

Aditya Dutt departs RenRe. O’Donnell assumes Ventures responsibility

The leader of RenaissanceRe's third-party reinsurance capital and joint-venture focused Ventures business Aditya Dutt is set to leave the firm for a new opportunity, with CEO Kevin O’Donnell to assume control of the unit. RenaissanceRe (RenRe), the Bermuda-headquartered reinsurance company and third-party capital manager with over $10 billion of committed capital read the full article →

Third-party capital raising hit $2.2bn for RenRe in just over one-year

While overall insurance-linked securities (ILS) and third-party reinsurance capital has shrunk slightly over the last year or so, reinsurer RenaissanceRe bucked the trend and raised around $2.2 billion from investors in just over one-year. Raising capital has not been the priority for many in the ILS market in recent times, as read the full article →

Substantial amounts of collateral to be trapped at year-end: RenRe CEO

Renaissance Re, the Bermuda-based reinsurance underwriter and manager of increasing amounts of third-party capital, believes that Covid-19 uncertainty means "substantial amounts of collateral will be trapped" at the end of 2020, the firms CEO Kevin O'Donnell has said. Trapping of collateral has always been expected, given the uncertainty over potential losses read the full article →

RenRe’s third-party capital fees rise as inflows continue, investor distributions grow

Bermuda-based reinsurance firm and third-party capital management specialist RenaissanceRe has again reported a rise in the amount of fee income earned through its various third-party capital management and ILS fund activities, also paying out more in distributions to investors as well. RenaissanceRe (RenRe) entered the first-quarter of 2020 with a significantly read the full article →