Reinsurance News
RenRe
RenRe loss worsens on investments, but underwriting rebounds
4th May 2022
Bermuda headquartered reinsurance specialist RenaissanceRe has reported an overall deterioration in its net loss for the first quarter of 2022, compared with the same period last year, despite seeing a return to positive underwriting results. RenRe’s net loss fell further from $290.9 million in Q1 of last year to a loss ... Read the full article
RenRe promotes Shannon Lowry Bender to Governance Committee
8th April 2022
Global reinsurer RenaissanceRe (RenRe) has announced that Group General Counsel and Corporate Secretary, Shannon Lowry Bender has been appointed to the company’s Governance Committee. The Governance Committee is the most senior management team at RenRe, and it is responsible for governance and strategy of the company. Shannon joined RenRe in January ... Read the full article
RenRe couldn’t have had a better renewal, says CEO O’Donnell
27th January 2022
After achieving numerous goals at the January 1st, 2022, reinsurance renewals, Kevin O'Donnell, President and Chief Executive Officer (CEO) of Bermuda-based RenaissanceRe, feels that the reinsurer has constructed the most efficient portfolio possible. "We had a strong January 1 renewal," said O'Donnell, speaking yesterday during the company's Q4 and full-year 2021 ... Read the full article
RenRe’s Q4 combined ratio strengthens but nat cats dent full-year result
26th January 2022
Bermuda-based reinsurer RenaissanceRe (RenRe) has reported positive income and an underwriting gain for the fourth-quarter of 2021, but the heavy catastrophe load experienced saw the company's full-year combined ratio deteriorate slightly to 102.1%. For Q4 2021, RenRe has posted net income of $210.9 million and operating income of $213.7 million, compared ... Read the full article
RenRe’s underwriting performance deteriorates amid heavy cat experience
26th October 2021
Bermuda-based reinsurer RenaissanceRe has reported a net loss of $450.2 million for the third quarter of 2021, as catastrophe losses contributed to a $726.8 million net negative impact on its result during the period. The Q3 2021 net loss compares with a gain of $47.8 million for the prior year period, ... Read the full article
RenRe & Vantage back Tower Hill’s new reciprocal insurer
8th September 2021
Florida-based Tower Hill Insurance Group has announced the launch of a new reciprocal insurance entity called Tower Hill Insurance Exchange (THIE), which is backed by entities controlled by Gallatin Point Capital, Vantage Group Holdings, and RenaissanceRe. The new carrier launches with an initial capital commitment of more than USD 200 million ... Read the full article
In raising $500m RenRe notes it could be used to replenish after catastrophes
8th July 2021
Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has announced plans to raise $500 million via a share offering, the proceeds of which it says could be used to replenish its capital base after a catastrophe event. RenRe has agreed to sell 20 million depositary shares in an underwritten public offering, each ... Read the full article
RenRe falls to $290.9m Q1 net loss as combined ratio deteriorates
29th April 2021
Bermuda domiciled reinsurer, RenaissanceRe Holdings Ltd. (RenRe), has announced a net loss of $290.9 million for the first quarter of 2021, as the impacts of winter storm Uri pushed the carrier to an underwriting loss for the period. Major winter storms in the U.S. in February had a $179.8 million net ... Read the full article
RenRe falls to Q4 operating loss; expects increased profitability
27th January 2021
Bermuda-based reinsurance company, RenaissanceRe Holdings Ltd. (RenRe), has reported an operating and underwriting loss for the fourth-quarter of 2020 amid losses from both weather-related events and the COVID-19 pandemic. For the final quarter of 2020, RenRe has reported net income of $189.9 million, compared to $33.8 million for the same period ... Read the full article
Third-party capital & ILS assets rise in 2020 as market shows signs of recovery
14th January 2021
Third-party reinsurance and insurance-linked securities (ILS) assets under management (AuM) of the top-ten ILS fund and third-party reinsurance capital managers increased to more than $61 billion through H2 2020, led by Nephila Capital, LGT ILS Partners, Fermat Capital Management, and Leadenhall Capital Partners. Data featured in the Artemis Insurance ... Read the full article
RenRe warns of Q4 operating loss amid $345mn weather & COVID impact
14th January 2021
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported that losses from weather-related catastrophe events and the ongoing COVID-19 pandemic will push the firm to a fourth-quarter operating loss. The reinsurer has announced that estimated losses from catastrophe events will have a net negative impact of roughly $170 million on its Q4 ... Read the full article
Climate change is increasing wildfire risk in California: RenRe
9th November 2020
Reinsurer RenRe recently hosted a Q3 2020 earnings call in which President and CEO Kevin O'Donnell spoke about climate change and the Californian wildfires. In 2020, the Californian wildfires consumed more than 4 million acres, which is more than double that was recorded in 2017 or 2018. This has resulted in over ... Read the full article
RenRe warns of operating loss as cats drive $325mn negative impact in Q3
14th October 2020
Bermuda-based reinsurer, RenaissanceRe Holdings Ltd. (RenRe), expects to report an operating loss for the third-quarter of 2020 as estimated losses from catastrophe events in the period are projected to drive a net negative impact of roughly $325 million. The estimated net negative impact on its operations in Q3 is primarily driven ... Read the full article
RenRe improves Q2 income, reports further capital raise
29th July 2020
Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported an improved net income of $575.8 million in the second quarter of 2020, while also disclosing a further capital raise of $250 million through its managed joint ventures and third-party capital vehicles. Net income increased from $367.9 million in Q2 2019, although ... Read the full article
RenRe’s Aditya Dutt named as Partner and President of Aeolus
13th July 2020
Aeolus Capital Management Ltd., the Bermuda domiciled reinsurance and insurance-linked securities (ILS) focused investment fund manager, has announced the appointment of Aditya Dutt as Partner and President. It was announced last week that Dutt, who currently serves as Senior Vice President (SVP) of RenaissanceRe (RenRe) and President of Renaissance Underwriting ... Read the full article
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