RenaissanceRe Holdings Ltd. announced that Jeffrey D. Kelly, its chief financial officer and chief operating officer, is retiring. Kelly, 62, will be succeeded as CFO by Robert Qutub, effective Aug. 8, 2016, and will remain as chief operating officer until …
At first glance, Bermudian re/insurance companies appeared to start the year with a bang, reporting a 21 percent increase in consolidated gross premiums written (GPW), according to a new report published by Standard & Poor’s. However, that picture is slightly …
Florida-based Universal Insurance Holdings Inc. has raised an additional $10 million in capital by selling shares to one of its reinsurers. Universal said it sold 583,771 shares of common stock to RenaissanceRe Ventures Ltd., a subsidiary of RenaissanceRe Holdings Ltd. …
PERILS, the Zurich-based independent organization providing industry-wide catastrophe insurance data, announced it has joined the Singapore-based Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance, which has been set up to help increase data availability for natural catastrophe insurance in Asia. …
Lloyd’s managing agents should take full advantage of Oasis, the open source catastrophe modeling platform, in order to get wider views on catastrophe risks, urged Tom Bolt, Lloyd’s director of performance management. “Catastrophe models are valuable tools, but each model …
Bermuda-based RenaissanceRe Holdings Ltd. reported fourth quarter 2015 operating income available to RenaissanceRe common shareholders of $135.0 million, or $3.07 per diluted common share, compared to $140.3 million, or $3.62 per diluted common share, in the fourth quarter of 2014. …
RenaissanceRe Holdings Ltd. announced that Hugh Brennan, currently finance director at RenaissanceRe Syndicate Management Ltd., will become RSM’s chief executive officer, effective for 2016. Brennan joined RenaissanceRe in Bermuda in 2009, subsequently moving to London and assuming a series of …
The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report. Reinsurance pricing has experienced downward pressures …
RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $73.2 million, or $1.59 per diluted common share, in the second quarter of 2015, compared to $120.8 million, or $2.95, respectively, in the second quarter of 2014. Operating income …
The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …
