Reinsurance News


Swiss Re and RenRe both launch new retro cat bonds

13th December 2019

Reinsurers Swiss Re and RenaissanceRe (RenRe) have both returned to the capital markets with new catastrophe bonds that aim to provide retrocessional protection from natural disasters. Artemis, the sister publication of Reinsurance News, was the first to report on these transactions, which could reflect a broader industry move towards alternative capital ... Read the full article

RenRe to join Mutual Re from Jan 1st as EMC departs

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

RenRe profits down on Q3 cat losses

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

RenRe estimates Q3 cat losses at $155 million

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

There’s a measurable difference in today’s climate, says RenRe’s O’Donnell

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

RenRe premium up 51%, investment offsets underwriting income dip in Q2

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

Matthew Neuber to succeed Aditya Dutt as RenRe’s Corporate Treasurer

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

RenRe reports a solid first-quarter, underpinned by 72% combined ratio

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

Reinsurers have no choice but to be creative: Aditya Dutt, RenRe

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

RenaissanceRe Europe AG emerges following TMR acquisition

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

RenRe completes acquisition of Tokio Millennium Re

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

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

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