RenaissanceRe News

Global Re Forum Taps PartnerRe’s Clarke as Chair, Hannover Re’s Henchoz as Vice Chair

The Global Reinsurance Forum (GRF) has appointed Emmanuel Clarke, president and CEO of PartnerRe for a two-year term. He succeeds Kevin J. O’Donnell, CEO of RenaissanceRe, who became chairman in 2018. Jean-Jacques Henchoz, CEO Hannover Re, was named vice chairman. …

AXA Liabilities Managers to Acquire RenaissanceRe (UK) Limited in Runoff

AXA Liabilities Managers has agreed to acquire RenaissanceRe (UK) Limited, a company currently in runoff, from RenaissanceRe Holdings Ltd. Formerly known as Tokio Millennium Re (UK) Limited, the UK run-off business was acquired by RenaissanceRe as part of its purchase …

Is the Re/Insurance Industry Ready for the Fourth Industrial Revolution?

Industry transformations occur when the pain of staying the same is suddenly greater than the pain of changing, according to Karen White, CEO of RMS. “The second thing that has got to be present for those transformations to occur is …

Beazley and RenaissanceRe Launch Cyber Catastrophe Cover Backed by Capital Markets

Specialist insurer Beazley and reinsurer RenaissanceRe have jointly launched a product that provides Beazley with additional catastrophe cover for cyber events. The majority of the security behind the deal will be provided by capital market sources structured by RenaissanceRe. This …

Quantemplate, Insurtech Provider of Cloud-Based Data Services, Raises $12M

Quantemplate, the provider of self-service, cloud-based automated data services for the re/insurance industry, raised more than $12 million in its latest funding round. Quantemplate said it plans to use the funding for three main areas, sales and marketing, and platform …

RenaissanceRe Estimates Third Quarter Natural Catastrophe Losses of $155 Million

RenaissanceRe Holdings Ltd. announced it estimates losses from third quarter 2019 catastrophe events will have an estimated net negative impact of approximately $155 million on its third quarter 2019 results. The estimated losses include Typhoon Faxai and Hurricane Dorian, which …

RenaissanceRe Completes $1.5B Acquisition of Tokio Millennium Re

RenaissanceRe Holdings Ltd. announced it has concluded its acquisition of Tokio Marine Holdings’ reinsurance platform for $1.5 billion in cash and RenaissanceRe common shares. The acquisition of Tokio Millennium Re AG and Tokio Millennium Re (UK) Ltd. (collectively known as …

RenaissanceRe Gets Regulatory Nod to Proceed with Tokio Millennium Re Purchase

RenaissanceRe Holdings Ltd. announced it has received all regulatory approvals required in connection with its planned acquisition of Tokio Marine Holdings’ reinsurance platform. The deal was first announced on Oct. 30, 2018, when RenRe said it had agreed to pay …

JBA Broadens Access to Sri Lanka Flood Model to Help Bridge Protection Gap

JBA Risk Management has released its Sri Lanka Flood Model onto Simplitium’s ModEx platform. The initiative is specifically aimed at broadening accessibility to the Sri Lanka model for both the insurance and wider disaster risk reduction (DRR) community. The announcement …

RenaissanceRe Introduces Vermeer, New Reinsurer for U.S. Catastrophe Market

RenaissanceRe Holdings Ltd. and Dutch pension fund manager PGGM announced they have launched Vermeer Reinsurance Ltd. to provide capacity focused on risk remote layers in the U.S. property catastrophe market. PGGM is a Dutch pension fund service provider with €215 …