Reinsurance News
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
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
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
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
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
15th April 2021
RenaissanceRe Holdings Ltd. (RenRe), the Bermuda-based reinsurance company, expects to report a net loss for the first-quarter of 2021, with losses related to Winter storm Uri forecast to have a net negative impact of $180 million on its results of operation for the period. The Uri losses are net, so after ... Read the full article
13th April 2021
BlackRock, a fiduciary to investors and provider of financial technology, has launched two active sustainable exchange-traded fund (ETFs) as the firm looks to leverage the global the transition to a low-carbon economy. The two funds raised more than $1.5 billion, highlighting the increased focus on climate-aware strategies from global institutional investors. Bermudian ... Read the full article
1st April 2021
All North American reinsurers analysed by Fitch Ratings have reported deterioration in underwriting results, leading to underwriting losses. The overall segment reported a combined ratio of 105.4% in 2020, up nearly 9 percentage points from the prior year, with COVID-19 losses as the primary difference. The losses added 7.4 percentage points to ... Read the full article
4th March 2021
Bermuda-based reinsurer RenaissanceRe Holdings has rebranded its Ventures business as “RenaissanceRe Capital Partners." Senior Vice President Chris Parry is expected to lead this business and report to Kevin O’Donnell, President and Chief Executive Officer. RenaissanceRe Capital Partners will remain focused on managing RenaissanceRe’s third-party capital relationships, joint ventures and managed funds. As part ... Read the full article
8th February 2021
Kevin O’Donnell, President and CEO of RenaissanceRe, has warned that there is misplaced confidence within the re/insurance industry that COVID-19 losses may be less severe than originally expected. Speaking during a Q4 earnings call, O’Donnell explained that RenRe had updated its COVID loss estimate for the quarter to $173 million. But the ... Read the full article
1st February 2021
Kevin O’Donnell, President and CEO of Bermudian reinsurer RenaissanceRe (RenRe), says that pricing dynamics across both casualty and specialty lines, as well as property E&S, outperformed the company’s expectations at the January 1 renewals. The broad feeling in the market is that reinsurance rate increases at 1/1 were more moderate than ... Read the full article
27th January 2021
Bermuda-based reinsurance company, RenaissanceRe Holdings Ltd. (RenRe), has reported an operating and underwriting loss for the fourth-quarter of 2020 amid losses from both weather-related events and the COVID-19 pandemic. For the final quarter of 2020, RenRe has reported net income of $189.9 million, compared to $33.8 million for the same period ... Read the full article
14th January 2021
Third-party reinsurance and insurance-linked securities (ILS) assets under management (AuM) of the top-ten ILS fund and third-party reinsurance capital managers increased to more than $61 billion through H2 2020, led by Nephila Capital, LGT ILS Partners, Fermat Capital Management, and Leadenhall Capital Partners. Data featured in the Artemis Insurance ... Read the full article
14th January 2021
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported that losses from weather-related catastrophe events and the ongoing COVID-19 pandemic will push the firm to a fourth-quarter operating loss. The reinsurer has announced that estimated losses from catastrophe events will have a net negative impact of roughly $170 million on its Q4 ... Read the full article
4th December 2020
Bermuda-based reinsurance company, RenaissanceRe Holdings Ltd., has announced that from January 1st, 2021, Shannon Lowry Bender will assume the role of Senior Vice President (SVP), Group General Counsel and Corporate Secretary. Bender takes over from Stephen Weinstein, Executive Vice President (EVP), Group General Counsel, Corporate Secretary and Chief Compliance Officer, who ... Read the full article
