RenaissanceRe
-
The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season. -
The AuM total hits $12.1bn when including Top Layer Re and RenRe’s own participation.
-
The reinsurer said it was monitoring conditions in the property E&S markets, where it has been reducing capacity to grow in property treaty, as rate gains could provide fertile ground for future growth.
-
The reinsurer’s ILS vehicles delivered returns of $174.9mn to investors during the quarter, with improved returns from PGGM joint venture Vermeer and the Medici cat bond fund.
-
The investment firm’s ILS holdings were worth around $746mn at year-end 2022.
-
Removing any competitor is a positive for ILS peers in a competitive time for fundraising, but it is not clear how much of a boost this will give RenRe.
-
RenRe will be taking control of ILS manager AlphaCat as part of its purchase of Validus Re.
-
The takeover will push it up two places to rank as the fifth-largest writer of P&C reinsurance by gross premium.
-
AIG will invest a significant amount into Fontana and DaVinci.
-
The Bermudian reinsurer launched a public offering of 6,300,000 common shares and anticipates raising around $1.15bn to finance the transaction.
-
The deal includes AIG's AlphaCat platform.
-
The CEO said the reinsurer has already written some private deals ahead of the June 1 deadline and expects to continue a pivot away from E&S in favour of property cat reinsurance.
Most Recent
-
Allstate reports $551mn cat loss for August
21 September 2023 -
Brown & Brown acquires Occam from HSCM
20 September 2023 -
Lloyd’s to extend cat exposure monitoring to non-peak perils
20 September 2023