RenaissanceRe News

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 …

RenaissanceRe and Arch Capital Estimate Impact of Q3 Natural Catastrophes

RenaissanceRe Holdings Ltd. estimated losses from certain catastrophe events will have a net negative impact of approximately $725 million on the company’s third quarter 2021 results. This estimate is primarily composed of net negative impacts of approximately $440 million from …

Reinsurers Show Strong Profits During 2nd Half, Rebounding from 2020’s Challenges

The first half financial results, reported by a group of six reinsurers over the past week, generally show a strong return to profits after last year’s challenging market conditions. A wrap-up of these H1 results follows for Swiss Re, Everest …

8 Reinsurers Provide $897M Cover for Lloyd’s Central Fund with Aon as Placing Broker

Lloyd’s announced the marketplace has secured a five-year £650 million ($897 million) reinsurance cover for its Central Fund—a move that aims to protect against adverse tail risk, while supporting growth and bolstering the market’s balance sheet. The £650 million protection, …

Industry Underestimating COVID-19 Biz Interruption Losses: RenRe CEO

During an upbeat earnings call focused on how RenaissanceRe is using $1 billion of capital it raised last year in 2021, the CEO highlighted one negative development for the industry overall — inadequate estimates of COVID-19 losses. “Even as COVID …

RenaissanceRe Creates Environmental, Social and Governance (ESG) Strategic Areas

RenaissanceRe Holdings Ltd. has announced three strategic focus areas as part of its Environmental, Social and Governance (ESG) strategy: Promoting Climate Resilience; Closing the Protection Gap; and Inducing Positive Societal Change. More information can be found on RenaissanceRe’s new ESG …

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 …