Reinsurance News
RenaissanceRe
RenaissanceRe is a leading global reinsurance company headquartered in Bermuda.
Founded in 1993 in Bermuda, RenaissanceRe has used its underwriting expertise and analytical insight to offer unique reinsurance risk transfer solutions and also to manage third-party capital from investors.
One of the largest catastrophe reinsurance specialists in the world, in recent years RenaissanceRe (RenRe) has also broadened its scope to cover casualty and specialty reinsurance business as well.
Read all of our RenaissanceRe news below.
Reinsurers in a “very good position” amid strong rate environment: RenRe’s O’Donnell
14th November 2023
Speaking on a panel at the PwC Insurance Summit in Bermuda in November, Kevin O’Donnell, President, and CEO of RenaissanceRe (RenRe), underlined that the industry is heading into a "strong" and "constructive" reinsurance rate environment ahead of the January renewals. During the panel, O’Donnell was asked how long inflation is going ... Read the full article
RenRe sees Q3 net income climb to $194m as combined ratio drops to 78%
2nd November 2023
RenaissanceRe has reported Q3 net income available to common shareholders of $194 million, driven by significant growth in its underwriting, fee and investment incomes, while its combined ratio dropped 60.7 points from the same period last year to 78%. This quarter's income figure compares to a net loss of $825.3 million ... Read the full article
RenaissanceRe completes $3.3bn acquisition of Validus Re from AIG
1st November 2023
Bermuda-based reinsurer RenaissanceRe has completed its previously announced acquisition of Validus Re, the treaty reinsurance operation of global insurer AIG, a transaction it says creates immediate and long-term value for its shareholders. First announced back in May and approved by the European Commission in August, RenRe has now closed ... Read the full article
Munich Re ranked largest reinsurer for third year running by AM Best
22nd August 2023
After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article
Mutual Re to expand ownership group as RenRe withdraws relationship
11th August 2023
Mutual Re, a reinsurance firm based near Chicago has announced that it is currently considering adding a risk-assuming investor to its ownership group, following RenaissanceRe, one of the firm's five owners recently deciding to tender its notice to withdraw from the relationship effective January 1, 2025. In a statement released by ... Read the full article
Reinsurer appetite increased amid more stable trading conditions at mid-year renewals: AIG CEO
2nd August 2023
The reinsurance market was more orderly during the key mid-year renewal season and sellers' appetite for more discrete purchases rose somewhat, which helped buyers fill shortfalls experienced at 1/1, according to Peter Zaffino, Chairman and Chief Executive Officer (CEO) of global insurer AIG. Speaking recently during the large primary insurer's Q2 ... Read the full article
RenRe CEO believes higher rates will persist in property cat
27th July 2023
Bermuda-based reinsurer RenaissanceRe's Chief Executive Officer (CEO), Kevin O’Donnell, believes that higher rates will persist in the property catastrophe market. Speaking recently during the reinsurer’s Q223 results earnings call, O’Donnell explained that RenRe “leaned heavily” into the property cat market during the second quarter, with ... Read the full article
Second-quarter SCS losses in the U.S. to approach $30bn: O’Donnell, RenRe CEO
26th July 2023
Kevin O’Donnell, the Chief Executive Officer (CEO) of Bermuda headquartered reinsurer RenaissanceRe, expects losses related to severe convective storms (SCS) in the U.S. during the second-quarter of 2023 to approach $30 billion. Speaking recently during the reinsurer's Q2 2023 earnings call, O'Donnell commented on the most active second-quarter of catastrophe ... Read the full article
RenRe reports combined ratio of 80.3% amid return to profit in Q2 2023
26th July 2023
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has announced a combined ratio (CR) of 80.3% for Q2 2023, with underwriting income of $352 million, a slight improvement on the $316 million reported a year earlier. Compared year-over-year, the CR increased slightly from 78.3% in Q2 2022, as an improvement in the casualty ... Read the full article
RenaissanceRe names Robin Lang as permanent Group Chief Risk Officer
20th July 2023
RenaissanceRe Holdings Ltd. has announced the appointment of Robin Lang as the Group’s Chief Risk Officer on a permanent basis starting September 1, 2023. Since April 2023, Lang has been appointed as RenRe’s Interim Chief Risk Officer. Lang will continue to be based in the company’s London office. In this role, his ... Read the full article
RenRe celebrates 30th anniversary
14th June 2023
RenaissanceRe, a global provider of reinsurance, celebrated its 30th anniversary on June 14, 2023. The company was founded in Bermuda in 1993 with the goal to bring a renaissance to the underwriting of property catastrophe reinsurance, Kevin J. O’Donnell, President and Chief Executive Officer, commented. Since then, RenRe has evolved into a ... Read the full article
RenRe’s GPW poised to expand by 30% to $12bn following Validus Re acquisition
23rd May 2023
Bermuda-based RenaissanceRe's acquisition of Validus Re is expected to expand the reinsurer's gross premiums written (GPW) by around 30%, resulting in a combined portfolio of almost $12 billion, creating a top-5 global property and casualty (P&C) reinsurer As we wrote previously, RenRe has agreed to acquire Validus and all its ... Read the full article
RenRe acquiring Validus from AIG for $3bn, to become top-5 P&C reinsurer
23rd May 2023
RenaissanceRe, the Bermuda headquartered re/insurer, is aiming to become a top-5 global property and casualty reinsurer with the acquisition of Validus and all its subsidiaries from global player AIG for around $3 billion. RenaissanceRe (RenRe) is set to raise capital to complete this significant acquisition, with an offering of 6.3 million ... Read the full article
Step change in property reinsurance will be ‘reasonably persistent’, says RenRe CEO
3rd May 2023
The President and Chief Executive Officer (CEO) of Bermuda-based reinsurer RenaissanceRe (RenRe), Kevin O'Donnell, expects the supply demand imbalance in property reinsurance to continue as concerns around climate change and elevated losses from natural disasters persist. Speaking recently during the firm's Q1 2023 earnings call, O'Donnell addressed the current reinsurance market ... Read the full article
RenaissanceRe sees net income rise to $564.1 million in Q1 results
3rd May 2023
RenaissanceRe has reported that Q1 property catastrophe net premiums written grew by $214.7 million or 35.7%, as net income available to common shareholders increased to $564.1 million. RenaissanceRe's gross premiums written stood at $2.79 billion in Q1, while underwriting income jumped to $369,619 million, up from $200,278 million in Q1 of ... Read the full article
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