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.
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
$30 million Ogden rate blow to RenaissanceRe reserves
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
Tax reforms not expected to result in onshore reinsurance moves (yet)
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
RenaissanceRe’s Steve Weinstein named ABIR Policy Committee Chair
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
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