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, …
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 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 …
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 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 …
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 …
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, 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 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 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 …
