Reinsurance News

RenaissanceRe

RenRe promotes Shannon Lowry Bender to Governance Committee

8th April 2022

Global reinsurer RenaissanceRe (RenRe) has announced that Group General Counsel and Corporate Secretary, Shannon Lowry Bender has been appointed to the company’s Governance Committee. The Governance Committee is the most senior management team at RenRe, and it is responsible for governance and strategy of the company. Shannon joined RenRe in January ... Read the full article

RenRe launches casualty & specialty joint venture

5th April 2022

Bermuda headquartered reinsurance specialist RenaissanceRe, has announced the creation of Fontana Holding L.P. and its subsidiaries - a joint venture dedicated to writing Casualty and Specialty risks. In a press release, it states that Fontana launched with $475 million of capital and targets institutional investors, who contributed $325 million, with the ... Read the full article

RenRe strengthens ESG aims with new appointments

1st April 2022

RenaissanceRe has made several appointments that it says will further the company’s work in its ESG aims. The firm said it had promoted Harriet James to be VP of its ESG strategy within the Corporate Strategy Team, where she will be responsible for managing strategy across the company. It said it ... Read the full article

ClimateWise announces new chair and deputy chair

1st April 2022

Global insurance industry collaboration ClimateWise has announced Kevin O’Donnell, president and CEO of Renaissance Re as its new chair. As well as naming O’Donnell as its new chair, the group has also appointed John Scott, head of sustainability risk at Zurich Insurance as deputy chair. O’Donnell replaces Dominic Christian who has ... Read the full article

RenRe makes new appointment

21st March 2022

Bermuda-based RenaissanceRe has appointed a new SVP underwriting, global head of climate and sustainability strategy in Cathal Carr. Carr has been with RenaissanceRe for over seventeen years, beginning as a risk analyst in 2005. He has held a multitude of positions since then, including his most recent as SVP underwriting, global head ... Read the full article

Shyam Gidumal to Join RenRe Board of Directors

9th February 2022

RenaissanceRe Holdings has announced that Shyam Gidumal has been nominated to stand for election as an independent director of the Company at its Annual General Meeting of Shareholders in May. Gidumal, the company said, has over 35 years of experience in operational leadership, digital transformation, and strategy development as a senior ... Read the full article

RenRe couldn’t have had a better renewal, says CEO O’Donnell

27th January 2022

After achieving numerous goals at the January 1st, 2022, reinsurance renewals, Kevin O'Donnell, President and Chief Executive Officer (CEO) of Bermuda-based RenaissanceRe, feels that the reinsurer has constructed the most efficient portfolio possible. "We had a strong January 1 renewal," said O'Donnell, speaking yesterday during the company's Q4 and full-year 2021 ... Read the full article

RenRe’s Q4 combined ratio strengthens but nat cats dent full-year result

26th January 2022

Bermuda-based reinsurer RenaissanceRe (RenRe) has reported positive income and an underwriting gain for the fourth-quarter of 2021, but the heavy catastrophe load experienced saw the company's full-year combined ratio deteriorate slightly to 102.1%. For Q4 2021, RenRe has posted net income of $210.9 million and operating income of $213.7 million, compared ... Read the full article

Net premiums rise for reinsurers in Bermuda

20th January 2022

The net premiums written for a group of eight reinsurers based in Bermuda rose by 18.1% through 9m21. The figure was supplied by Fitch in one of its latest reports. The company suggested that the growth was driven by rate increases, plus growth in casualty and specialty writings. Among the eight reinsurers—Arch ... Read the full article

RenRe’s underwriting performance deteriorates amid heavy cat experience

26th October 2021

Bermuda-based reinsurer RenaissanceRe has reported a net loss of $450.2 million for the third quarter of 2021, as catastrophe losses contributed to a $726.8 million net negative impact on its result during the period. The Q3 2021 net loss compares with a gain of $47.8 million for the prior year period, ... Read the full article

RenaissanceRe reveals huge $725m hit from Q3 catastrophes

13th October 2021

Bermuda headquartered reinsurance specialist RenaissanceRe Holdings Ltd. has estimated that its net claims burden from catastrophe events around the world in the third-quarter of 2021 will amount to a huge $725 million. Calling the expected loss a "net negative impact" RenaissanceRe said that the majority will come from hurricane Ida's impacts ... Read the full article

RenRe partners with First Street Foundation to tackle flood risk

16th August 2021

Global reinsurer RenaissanceRe (RenRe) has entered into a partnership with First Street Foundation to enhance data and modelling capabilities on the critical issue of flood risk. RenRe will license the First Street Foundation’s flood maps and leverage its trusted, peer-reviewed property-level flood risk data to evaluate how a changing climate could ... Read the full article

RenRe reports higher underwriting income, improved CR in Q2 2021

23rd July 2021

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has announced gross written premium growth to more than $2 billion for the second quarter of 2021, as the company's underwriting income improved year-on-year and combined ratio strengthened to 72.4%. For Q2 2021, RenRe's underwriting income reached $329 million compared with $217 million for the same ... Read the full article

In raising $500m RenRe notes it could be used to replenish after catastrophes

8th July 2021

Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has announced plans to raise $500 million via a share offering, the proceeds of which it says could be used to replenish its capital base after a catastrophe event. RenRe has agreed to sell 20 million depositary shares in an underwritten public offering, each ... Read the full article

RenRe falls to $290.9m Q1 net loss as combined ratio deteriorates

29th April 2021

Bermuda domiciled reinsurer, RenaissanceRe Holdings Ltd. (RenRe), has announced a net loss of $290.9 million for the first quarter of 2021, as the impacts of winter storm Uri pushed the carrier to an underwriting loss for the period. Major winter storms in the U.S. in February had a $179.8 million net ... Read the full article