Reinsurance News


RenRe expects to report Q1 net loss on $180mn winter storm Uri loss

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

RenRe among backers of BlackRock’s $1.5bn sustainable ETFs

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

NA reinsurers report deterioration in underwriting results: Fitch

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

RenaissanceRe Capital Partners replaces Ventures brand

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

Re/insurers risk underestimating COVID losses: RenRe’s O’Donnell

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

January 1 pricing outperformed RenRe’s expectations, says O’Donnell

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

RenRe falls to Q4 operating loss; expects increased profitability

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

Third-party capital & ILS assets rise in 2020 as market shows signs of recovery

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

RenRe warns of Q4 operating loss amid $345mn weather & COVID impact

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

RenRe announces Shannon Lowry Bender as new Group General Counsel

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

RenRe CEO “very optimistic” heading into Jan 1 renewals

29th October 2020

Kevin O'Donnell, President and CEO of Bermuda-based reinsurer RenaissanceRe (RenRe), has said that he is “very optimistic" about opportunities for the company as it head into the January 1 renewals, despite it having reported a large underwriting loss for Q3. RenRe is anticipating a supply/demand imbalance in certain areas of ... Read the full article

RenRe posts $206mn underwriting loss for Q3 on large loss events

28th October 2020

Bermuda-based reinsurer ReniassanceRe (RenRe) has reported an underwriting loss of $206.1 million for the third-quarter of 2020 and a combined ratio of 120.6%, as large loss events resulted in a net negative impact of $422.4 million and added a significant 43.4 percentage points to the combined ratio. Earlier this month, Read the full article

RenRe’s Doak departs to launch insurance-focused private investment firm

1st October 2020

Bermuda-based reinsurer, RenaissanceRe Holdings Ltd. (RenRe), has announced that Michael Doak, the Senior Vice President (SVP) and Portfolio Manager for the firm's strategic investment portfolio, will be departing to launch Griffin Highline Capital, a new private investment firm focused on the insurance industry. Doak has worked for RenRe as SVP for ... Read the full article

RenRe CEO O’Donnell takes control of Ventures as Dutt departs

10th July 2020

Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has revealed that Aditya Dutt, Senior Vice President of Ventures, is to leave the company to pursue a new opportunity. As a result of Dutt's departure, RenRe's Chief Executive Officer (CEO), Kevin O'Donnell, will assume responsibility for the firm's third-party reinsurance capital and joint-venture ... Read the full article

RenRe capital raise tops $1bn after $166 share pricing

3rd June 2020

Bermuda domiciled reinsurer RenaissanceRe has announced a $166 per-share pricing for its offering of 5,500,000 common shares, which, along with an option for underwriters to buy an additional 825,000 shares, brings the total equity raise to around $1.125 billion in total. This figure includes $75 million worth of common stock that ... Read the full article