Reinsurance News
22nd December 2017
RenaissanceRe said in a preliminary assessment of the Tax Cuts and Jobs Act of 2017 that it expects to be able to write down a portion of its deferred tax asset, reducing its net income by about $40 million in the period the Tax Bill is enacted. The Tax Bill to ... Read the full article
6th December 2017
RenaissanceRe has revealed an estimated $90 million net negative impact to Q4 results from the California wildfires which caused widespread damage to personal and commercial property and continue to rage through Southern California. Kevin O’Donnell, CEO of RenaissanceRe, said; "this catastrophe once again highlights the critical role that the insurance and ... Read the full article
2nd November 2017
Bermudian reinsurance firm RenaissanceRe warned its shareholders that the devastating wildfires that have impacted the state of California in recent weeks could result in a significant, perhaps material, impact to the company. Based on its risk modelling and an initial assessment of the California wildfires, RenaissanceRe said that it anticipates that ... Read the full article
5th October 2017
RenaissanceRe has revealed a significant initial estimated net negative impact from recent severe catastrophe events of hurricanes Harvey, Irma and Maria and the Mexico City earthquake of $625 million. Losses from hurricanes Harvey and Irma will have an expected net negative impact of approximately $225 million and $175 million, respectively, on ... Read the full article
3rd August 2017
RenaissanceRe Holdings Ltd. has announced the addition of Duncan P. Hennes and Dr. Valerie Rahmani to its Board of Directors, as independent directors, effective August 2nd, 2017. Hennes is the Co-Founder and Partner of Atrevida Partners, LLC, and Dr. Rahmani recently served as Chief Executive Officer (CEO) of Damballa, Inc., a cyber-security firm. Commenting on the appointments, James L. Gibbons, non-Executive ... Read the full article
31st May 2017
Renaissance Reinsurance Singapore, a division of the Bermudian reinsurance firm RenaissanceRe (RenRe), is the lead reinsurer on a 15 billion rupee (around $100m) renewal of the Sri Lanka governments natural disaster program. The program, which covers the entire country of Sri Lanka for natural disaster losses, is now entering in its ... Read the full article
13th April 2017
Renaissance Re has announced an estimated $30 million pre-tax impact of the Ogden rate on its carried reserves, to be accounted for in the firm's first quarter results. The firm said most of the reserve increase is related to a its U.K. medical malpractice contracts within the reinsurer's Casualty and Specialty segment. One ... Read the full article
14th March 2017
The expectation that tax reforms may be coming that affect the offshore reinsurance industry does not necessarily mean that a wave of reinsurers will be moving to set up in the U.S., according to Credit Suisse analysts. Discussing insights learned at a recent conference and citing RenaissanceRe President and CEO Kevin ... Read the full article
15th February 2017
The Association of Bermuda Insurers and Reinsurers (ABIR) has appointed RenaissanceRe's Steve Weinstein as Chair of its Policy Committee. Weinstein is Senior Vice President and Group General Counsel at Bermuda domiciled reinsurance firm RenaissanceRe Holdings Ltd., in charge of group legal, regulatory, government affairs and compliance matters. The ABIR Policy Committee is ... Read the full article
