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RenaissanceRe

Catastrophes hit RenRe’s fourth-quarter results

30th January 2019

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has announced a net loss of $83.9 million for the fourth-quarter of 2018, driven by the impact of catastrophe losses. The $83.9 million Q4 net loss compares with a net loss of $3.5 million for the same period in 2017. The reinsurer states that Hurricane Michael, ... Read the full article

RenRe creates new property cat reinsurer Vermeer in partnership with PGGM

18th December 2018

Bermudian reinsurer RenaissanceRe (RenRe) has announced the creation of a new property catastrophe reinsurance vehicle, called Vermeer Reinsurance Ltd., which it is launching in collaboration with Dutch pension fund manager PGGM. RenRe said that the launch of Vermeer will allow it to provide capacity focused on risk remote layers in the ... Read the full article

Tokio Marine’s sale of reinsurance units to boost efficiency: Fitch Ratings

12th November 2018

The recent sale of Tokio Marine Holdings’ two European reinsurance subsidiaries is likely to streamline the firm's holdings and boost operational efficiency in the group's underwriting businesses, Fitch Ratings says. Tokio Millennium Re AG and Tokio Millennium Re are both set to be acquired by Bermudian reinsurance company RenaissanceRe following ... Read the full article

TMR deal provides RenRe with access to preferential risk at a valuable time

31st October 2018

Bermudian reinsurer RenaissanceRe (RenRe) expects to access up to $1.4 billion of incremental reinsurance premium following its $1.5 billion acquisition of Tokio Millennium Re (TMR), and has entered into an agreement on the firm's non-Japanese reinsurance placements, which provides it with "preferential access to risk" at a valuable time. The ... Read the full article

RenRe posts $33mn net income despite Q3 cats hitting underwriting result

31st October 2018

Bermudian reinsurance company, RenaissanceRe Holdings Ltd. (RenRe), has reported net income of $32.7 million for the third-quarter of 2018 despite recording an underwriting loss and a combined ratio of 105.5%, as results were boosted in part by higher net investment income. The reinsurer's net income of $32.7 million is an improvement ... Read the full article

RenaissanceRe acquiring Tokio Millennium Re in $1.5 billion deal

30th October 2018

Bermudian reinsurance company RenaissanceRe has announced that it is to acquire Japanese holding company Tokio Marine’s reinsurance units, which include Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. RenaissanceRe said it has entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire the firm's reinsurance platform, which ... Read the full article

RenaissanceRe forecasts $155m of catastrophe losses for Q3 2018

18th October 2018

Bermudian reinsurance firm RenaissanceRe has pre-announced third-quarter 2018 catastrophe losses of $155 million net, largely driven by Typhoon Jebi and Hurricane Florence. RenaissanceRe expects an estimated net negative impact to its Q3 results of roughly $155 million, with Typhoon Jebi set to drive around $70 million of the losses and hurricane ... Read the full article

TimesSquare investor urges RenRe to consider potential sale

2nd October 2018

TimesSquare Capital Management, LLC, an institutional asset management firm with a 1.9% stake in RenaissanceRe Holdings Ltd. (RenRe), has penned a letter to RenRe’s Board of Directors urging them to consider a potential sale to boost the valuation of the company. The Wall Street Journal reported earlier today that RenRe ... Read the full article

RenRe said to be under investor pressure to run sale process

2nd October 2018

Bermudian reinsurance firm RenaissanceRe (RenRe) is rumoured to be under pressure from its investor, TimesSquare Capital Management LLC, to start a sale process, according to the Wall Street Journal (WSJ). TimesSquare, an asset manager that currently owns a 1.9% stake in RenRe, reportedly believes that the company’s shares are undervalued but ... Read the full article

RenaissanceRe and TigerRisk complete data transfer POC with Piprate

11th September 2018

RenaissanceRe and TigerRisk Partners have successfully completed a commercial Proof of Concept (POC) with Piprate, a blockchain-based data exchange platform for the insurance industry. Piprate said that its blockchain technology and proprietary data model allow data to be shared in a more secure and efficient way than established solutions, with transparency ... Read the full article

RenRe reports significant decline in 2017 loss estimates, boosts net income

26th July 2018

Bermudian reinsurer RenaissanceRe Holdings Ltd (RenRe) reported better than expected results for the second-quarter of 2018, driven by a substantial drop in its estimated losses from 2017 catastrophe events. The reinsurer has announced a decrease in net claims and claims expenses incurred of $128.6 million, which, after factoring in assumed reinstatement ... Read the full article

RenRe Ventures invests in The Woodlands Financial Group

29th May 2018

Bermudian reinsurance firm RenaissanceRe has made an investment in Texas headquartered property & casualty insurance brokerage The Woodlands Financial Group. Founded in 2001, The Woodlands Financial Group (TWFG) operates across 22 states in the U.S., broking primary property and casualty products, largely personal lines but also selling small business and commercial ... Read the full article

Boost secures reinsurance capacity for InsurTech development platform

10th May 2018

Boost Insurance has secured a dedicated reinsurance facility to support its B2B InsurTech development platform, led by re/insurance investment manager Nephila Capital with participation from Markel Digital and RenaissanceRe Holdings. Boost plans to manage a program that supports multiple InsurTech start-ups as they enter the property and casualty (P&C) industry across ... Read the full article

Technology will transform reinsurers’ efficiencies, says RenRe’s O’Donnell

20th April 2018

In the company’s Annual Report, reinsurer RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has maintained that technologies like artificial intelligence (AI) and big data are key to transforming efficiencies, and will not diminish the value of reinsurers. O’Donnell stressed that RenRe continues to maximise shareholder value by ... Read the full article

Reinsurers’ role in value chain critical and permanent, says RenRe’s O’Donnell

9th April 2018

In the company's Annual Report, RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has claimed that the social value proposition of RenRe, and of the reinsurance industry more generally, occupies a critical and permanent link in the insurance value chain. In the report’s letter to shareholders, O’Donnell asserted ... Read the full article

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