RenaissanceRe News

Markets/Coverages: RenaissanceRe Launches Property Catastrophe Bond Fund

RenaissanceRe Holdings Ltd. announced the launch of an Irish-domiciled property catastrophe bond fund, RenaissanceRe Medici UCITS Fund (Medici UCITS). A sub-fund of RenaissanceRe Medici ICAV, Medici UCITS is purpose-built to provide European and other global investors with access to RenaissanceRe’s …

Property-Catastrophe Reinsurance Rates Will Stop Dropping Post Wildfires: Execs

RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe reinsurance prices observed at 1/1. Kevin O’Donnell, president and chief executive officer, referencing an industrywide …

Reinsurers Hope Profitability Party Will Last – But All Good Things Must End

Executive summary: Fitch Ratings is projecting reinsurer returns on equity of 14% in 2023 and 2024, results that reflect a reinsurance environment that has effectively returned to the pre-soft market state of providing capital protection rather than earnings protection for …

People Moves: RenRe Promotes Lang to Group Chief Risk Officer, Succeeding Branagan; AXIS Taps Former Corvus Exec as Head of Global Cyber & Technology

This edition of International People Moves details appointments at RenaissanceRe and AXIS Capital Holdings. A summary of these new hires follows here. RenaissanceRe Promotes Lang to Group Chief Risk Officer, Succeeding Branagan RenaissanceRe Holdings Ltd. announced that Robin Lang will …

AIG to Sell Validus Re to RenRe in $3B Deal

American International Group (AIG) said late Monday it has entered into an agreement to sell Validus Re to RenaissanceRe Holdings for about $3 billion, mostly cash. The deal, expected to close during the fourth quarter, includes AlphaCat and renewal rights …

Reinsurance Recap: 2022 Results Mixed as Market Improves

Full-year 2022 financial results, reported by a handful of international groups that write reinsurance, show mixed results in a market full of challenges—ranging from inflation to the Ukraine war to growing losses from natural catastrophes. A wrap-up of these 2022 …

People Moves: Everest Re Taps AXA XL’s Mann to Lead Casualty, UK; RenRe Promotes Marra to CUO; Lockton Re Names Aon’s Ryan for Retrocession & Property Specialty

This edition of International People Moves details appointments at Everest Re, RenRe and Lockton Re. A summary of these new hires follows here. Everest Re Names AXA XL’s Mann Head of Casualty, UK Branch Everest Reinsurance, the reinsurance division of …

Rising Premiums, Low Catastrophe Losses Boost U.S., Bermuda Reinsurers’ H1 Profits

U.S. and Bermuda reinsurers reported strong operating performance for the first six months of 2022, supported by continued pricing increases in most reinsurance and specialty lines of business as well as tighter terms and conditions and low catastrophe losses, according …

RenRe Launches Casualty, Specialty Venture for ILS Investors

With institutional investors providing the bulk of the capital, RenaissanceRe Holdings has announced the creation of a new joint venture dedicated to casualty and specialty risks. Launched with $475 million of capital, the venture—Fontana Holdings L.P.—targets institutional investors, who contributed …

People Moves: Beazley Names Head of Cyber Services – Int’l; RenaissanceRe Appoints Senior ESG, Climate Roles; Barr Joins Miller’s Specialist Credit and Political Risks Team

This edition of International People Moves details appointments at re/insurers Beazley and RenaissanceRe Holdings, as well as insurance broker Miller. A summary of these new hires follows here. Beazley Appoints New Head of Cyber Services – International Specialist insurer Beazley …