Reinsurance News
RenaissanceRe
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
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