Bermuda’s RenaissanceRe Holdings Ltd. has promoted Laurence B. (Larry) Richardson to Senior Vice President – RenaissanceRe Ventures. He will continue to report to Jay Nichols, Executive Vice President, RenaissanceRe Holdings Ltd. and President, RenaissanceRe Ventures Ltd.
Richardson joined RenRe in 2001 as Vice President of the Company’s Ventures unit, “which creates and manages RenaissanceRe’s joint ventures and other managed vehicles, and makes strategic investments,” said the bulletin. “The largest of these joint ventures currently include Top Layer Reinsurance Ltd., DaVinci Reinsurance Ltd., and Starbound I and II.”
Prior to joining RenRe, Richardson was an investment banker with over 15 years of experience in the structured products and securitization arena. He has been employed at a number of Wall Street firms, including the law firm Thacher, Proffitt & Wood, and investment banks E.F.Hutton & Co., Donaldson, Lufkin & Jenrette Securities, and Alex Brown & Sons.
RenRe’s CEO Neill A. Currie observed that Richardson has “played an integral role in enhancing RenaissanceRe’s position as a market leader for managing cat risk and we are delighted to recognize his achievements with this promotion. The Ventures group adds considerable value to our Company by allowing us to leverage our expertise in our reinsurance and insurance businesses, enabling us to better serve our clients and partners.”
Source: RenRe – www.renre.com