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Reinsurance News
14th November 2019
Mutual Re, a joint reinsurance association that writes business through intermediaries, has announced that global reinsurer RenaissanceRe (RenRe) will be added to its group of assuming companies, effective January 1st, 2020. From the start of next year, the owners of Mutual Re will be Renaissance Reinsurance U.S. Inc, Church Mutual Insurance ... Read the full article
30th October 2019
The impacts of Hurricane Dorian and Typhoon Faxai have driven down Bermudian reinsurer RenaissanceRe’s (RenRe) third quarter operating income by $4.8 million against the prior year quarter. Catastrophe events for the quarter resulted in an underwriting loss of $181.9 million and added 20.6% to the combined ratio. RenRe posted an overall underwriting ... Read the full article
16th October 2019
Bermudian reinsurance firm RenaissanceRe Holdings Ltd. (RenRe) is anticipating that its catastrophe losses will total $155 million for the third quarter of 2019. The figure consists of $100 million in costs from Typhoon Faxai, and $55 million from Hurricane Dorian. RenRe added that it is also in the preliminary stage of assessing ... Read the full article
11th October 2019
Kevin O’Donnell, the President and Chief Executive Officer (CEO) of Bermudian reinsurer RenaissanceRe (RenRe), has said that today, observable change in the world's climate is taking place. “There’s a measurable change that is going on, there is a measurable difference in today’s climate compared to previous climate,” said O’Donnell, addressing an ... Read the full article
24th July 2019
RenaissanceRe has reported significant growth in the second-quarter of 2019, with its gross premiums underwritten rising by 51% while its investment return helped it to near double net income to almost $368 million for the period. The Bermuda headquartered reinsurance firm took advantage of strong price rises across many areas of ... Read the full article
11th July 2019
Bermuda domiciled reinsurer RenaissanceRe (RenRe) has announced the promotion of Matthew Neuber to the position of Corporate Treasurer, subject to Bermuda Immigration approval. Neuber has been promoted from his role as Senior Vice President (SVP), Ventures & Corporate Finance, and will now report to Robert Qutub, Chief Financial Officer (CFO). He replaces ... Read the full article
8th May 2019
Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported an improved year-on-year net income for the first-quarter of 2019, of $273.3 million, an increase of more than 380%. Operating income also increased for the reinsurer during the first-quarter of 2019, from $122.1 million to $154.4 million. RenRe's annualised return on average ... Read the full article
12th April 2019
The evolution of the capital structure forces reinsurers to be innovative and creative, and is one of the most fundamental and permanent changes to the industry over the last three decades, according to Aditya Dutt, President of Renaissance Underwriting Managers, Ltd. and Senior Vice President (SVP) and Treasurer, RenaissanceRe Holdings ... Read the full article
26th March 2019
Following the completion of its acquisition of Tokio Millennium Re, RenaissanceRe is rebranding its Zurich and European underwriting operations to be called RenaissanceRe Europe AG. RenaissanceRe Europe AG will be led by former head of underwriting of Tokio Millennium Re AG in Zurich Andrea Manella, we understand, who will take ... Read the full article
22nd March 2019
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has completed its previously announced acquisition of Tokio Millennium Re, following the receipt of all necessary regulatory approvals. The $1.5 billion deal, which sees RenRe acquire Japanese holding company Tokio Marine’s reinsurance units, was announced in October of last year. Commenting on the completion of the deal, ... Read the full article
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
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
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
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
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
