Reinsurance News
RenaissanceRe
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
RenRe posts $33mn net income despite Q3 cats hitting underwriting result
31st October 2018
Bermudian reinsurance company, RenaissanceRe Holdings Ltd. (RenRe), has reported net income of $32.7 million for the third-quarter of 2018 despite recording an underwriting loss and a combined ratio of 105.5%, as results were boosted in part by higher net investment income. The reinsurer's net income of $32.7 million is an improvement ... Read the full article
RenaissanceRe acquiring Tokio Millennium Re in $1.5 billion deal
30th October 2018
Bermudian reinsurance company RenaissanceRe has announced that it is to acquire Japanese holding company Tokio Marine’s reinsurance units, which include Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. RenaissanceRe said it has entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire the firm's reinsurance platform, which ... Read the full article
RenaissanceRe forecasts $155m of catastrophe losses for Q3 2018
18th October 2018
Bermudian reinsurance firm RenaissanceRe has pre-announced third-quarter 2018 catastrophe losses of $155 million net, largely driven by Typhoon Jebi and Hurricane Florence. RenaissanceRe expects an estimated net negative impact to its Q3 results of roughly $155 million, with Typhoon Jebi set to drive around $70 million of the losses and hurricane ... Read the full article
TimesSquare investor urges RenRe to consider potential sale
2nd October 2018
TimesSquare Capital Management, LLC, an institutional asset management firm with a 1.9% stake in RenaissanceRe Holdings Ltd. (RenRe), has penned a letter to RenRe’s Board of Directors urging them to consider a potential sale to boost the valuation of the company. The Wall Street Journal reported earlier today that RenRe ... Read the full article
RenRe said to be under investor pressure to run sale process
2nd October 2018
Bermudian reinsurance firm RenaissanceRe (RenRe) is rumoured to be under pressure from its investor, TimesSquare Capital Management LLC, to start a sale process, according to the Wall Street Journal (WSJ). TimesSquare, an asset manager that currently owns a 1.9% stake in RenRe, reportedly believes that the company’s shares are undervalued but ... Read the full article
RenaissanceRe and TigerRisk complete data transfer POC with Piprate
11th September 2018
RenaissanceRe and TigerRisk Partners have successfully completed a commercial Proof of Concept (POC) with Piprate, a blockchain-based data exchange platform for the insurance industry. Piprate said that its blockchain technology and proprietary data model allow data to be shared in a more secure and efficient way than established solutions, with transparency ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
