Reinsurance News


RenRe has “far exceeded” initial goals of the TMR acquisition: CEO, O’Donnell

8th April 2020

More than a year since RenaissanceRe (RenRe) acquired Tokio Millennium Re (TMR) in a $1.5 billion deal, and the former's President and Chief Executive Officer (CEO), Kevin O'Donnell, feels the company has "far exceeded" its initial targets. It was announced in October 2018 that RenRe had entered into a definitive ... Read the full article

RenRe could pull back in Florida if rates stay low, says CEO

7th February 2020

RenaissanceRe could further reduce its exposure to Florida domestic companies if rate increases do not meet the companies return hurdles this year, according to its President and CEO, Kevin O’Donnell. Speaking in an earnings call alongside the release of RenRe’s Q4 and 2019 results, O’Donnell warned of “substantial structural issues” ... Read the full article

RenRe adds Chief Human Resources Officer

6th February 2020

Bermudian reinsurer RenaissanceRe Holdings Ltd. (RenRe) has appointed Ann Manal as Chief Human Resources Officer. In her new role, she will be responsible for overseeing the firm’s global HR function, and will be based in RenRe’s Bermuda headquarters. She brings more than 25 years of industry experience to the role, most recently ... Read the full article

RenRe falls to Q4 underwriting loss on Hagibis, but net income up

5th February 2020

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has reported net income of $33.8 million for the fourth-quarter of 2019, however, the impact of Typhoon Hagibis and 2019 Aggregate Losses pushed the firm to a Q4 underwriting loss of $65.2 million. The reinsurer's net income in Q4 2019 compares with a net loss of ... Read the full article

AXA LM acquires RenRe’s UK run-off business

4th February 2020

AXA Liabilities Managers (AXA LM), a division of AXA and an acquirer and manager of legacy re/insurance business, has announced an agreement to acquire RenaissanceRe (UK) Limited from Bermuda-based reinsurer, RenaissanceRe Holdings Ltd. RenaissanceRe (UK) Limited, a company in run-off, was formerly known as Tokio Millennium Re (UK) Limited, and ... Read the full article

Markel & RenRe back new policy from AI start-up Cowbell Cyber

23rd January 2020

Reinsurers Markel Global Reinsurance Company and Renaissance Re Holdings are among a group of companies that have provided backing for a new policy from Cowbell Cyber, a start-up focused on AI-powered cyber insurance for SMEs. The policy, called Cowbell Prime 100, is designed to enable insurance agents to issue personalised cyber ... Read the full article

Beazley & RenRe collaborate on capital markets-backed cyber reinsurance

9th January 2020

Specialist insurer Beazley has secured additional catastrophe cover for cyber events through the launch of a new reinsurance product in collaboration with Bermuda-based reinsurer, RenaissanceRe (RenRe), and which is backed by the capital markets. An announcement on the deal reveals that the vast majority of the security behind the deal will ... Read the full article

Tokio Marine selling stake in RenRe

7th January 2020

Bermudian reinsurance firm RenaissanceRe (RenRe) has announced that Tokio Marine plans to sell its 3.9% stake in the company, worth about $334 million. The stake will be offloaded via an underwritten public secondary offering of 1,739,071 common shares by Tokio Marine & Nichido Fire Insurance Co., Ltd. These shares formed part of ... Read the full article

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