Reinsurance News

RenaissanceRe

RenRe reports significant decline in 2017 loss estimates, boosts net income

26th July 2018

Bermudian reinsurer RenaissanceRe Holdings Ltd (RenRe) reported better than expected results for the second-quarter of 2018, driven by a substantial drop in its estimated losses from 2017 catastrophe events. The reinsurer has announced a decrease in net claims and claims expenses incurred of $128.6 million, which, after factoring in assumed reinstatement ... Read the full article

RenRe Ventures invests in The Woodlands Financial Group

29th May 2018

Bermudian reinsurance firm RenaissanceRe has made an investment in Texas headquartered property & casualty insurance brokerage The Woodlands Financial Group. Founded in 2001, The Woodlands Financial Group (TWFG) operates across 22 states in the U.S., broking primary property and casualty products, largely personal lines but also selling small business and commercial ... Read the full article

Boost secures reinsurance capacity for InsurTech development platform

10th May 2018

Boost Insurance has secured a dedicated reinsurance facility to support its B2B InsurTech development platform, led by re/insurance investment manager Nephila Capital with participation from Markel Digital and RenaissanceRe Holdings. Boost plans to manage a program that supports multiple InsurTech start-ups as they enter the property and casualty (P&C) industry across ... Read the full article

Technology will transform reinsurers’ efficiencies, says RenRe’s O’Donnell

20th April 2018

In the company’s Annual Report, reinsurer RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has maintained that technologies like artificial intelligence (AI) and big data are key to transforming efficiencies, and will not diminish the value of reinsurers. O’Donnell stressed that RenRe continues to maximise shareholder value by ... Read the full article

Reinsurers’ role in value chain critical and permanent, says RenRe’s O’Donnell

9th April 2018

In the company's Annual Report, RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has claimed that the social value proposition of RenRe, and of the reinsurance industry more generally, occupies a critical and permanent link in the insurance value chain. In the report’s letter to shareholders, O’Donnell asserted ... Read the full article

AIR Worldwide partners with RenRe to model long-tail casualty risk

9th April 2018

AIR Worldwide, the catastrophe modelling arm of Verisk Analytics, has announced that it will partner with RenaissanceRe (RenRe) to develop the re/insurance industry’s first probabilistic model for extreme liability events. As part of the collaboration, AIR Worldwide plans to use Arium, its exposure management application, to measure portfolio-specific loss potential and judge ... Read the full article

RenRe CEO optimistic for continued, positive rate momentum in 2018

6th February 2018

An understanding in the reinsurance market that further rate enhancement is needed for protection will be "the backbone for discipline" as the sector moves towards mid-year renewals, according to Kevin O'Donnell, Chief Executive Officer (CEO) of RenaissanceRe Holdings (RenRe). As expected, reinsurance rates increased at the January 1st, 2018 renewals season ... Read the full article

RenaissanceRe takes minority shareholding in run-off specialist Catalina

19th January 2018

Bermudian reinsurance firm RenaissanceRe is to make a minority shareholding investment in non-life insurance and reinsurance run-off and consolidation specialist Catalina Holdings. RenaissanceRe will become a minority shareholder in Catalina, with the share investment being made through the reinsurers Ventures unit. Aditya Dutt, President of Renaissance Underwriting Managers, Ltd., will take ... Read the full article

Langhorne Re launched by RGA and RenRe as in-force life & annuity reinsurer

11th January 2018

Two major global reinsurance firms, Reinsurance Group of America and RenaissanceRe, have launched a new start-up named Langhorne Re, which will target in-force life and annuity business and leverage third-party capital as part of its backing. Langhorne Re will be a global reinsurer targeting large in-force life and annuity blocks, the ... Read the full article

RenaissanceRe estimates $40mn reduction to net income from Tax Bill

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

RenaissanceRe reveals $90mn California wildfires Q4 impact

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

RenRe says California wildfire loss will be significant, could be material

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

RenaissanceRe says catastrophes to have $625m net impact to Q3 results

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

RenRe adds two to Board of Directors

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

RenRe leads Sri Lanka natural disaster reinsurance program: Reports

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