RenaissanceRe
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The sector will see a slight dip in capital at the upcoming renewals, but growth prospects are strong, panellists at an S&P conference predict.
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O'Donnell said the market is “missing the point” about the dangers of climate change.
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The Bermudian company wrote 70 percent more casualty and specialty premium year on year.
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The reinsurer expects to take a $100mn charge from Faxai and assume $55mn of Dorian liabilities.
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The RenRe CEO raised the concern in light of the way catastrophe losses have risen from initial estimates in recent years.
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Tatsuhiko ‘Tats’ Hoshina led Tokio Millennium Re for 14 years and becomes the 11th member of the advisory board.
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Kinesis deployed 50 percent more limit year on year while RenaissanceRe grew its DaVinci sidecar.
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Half of the $700mn capital raise was allocated to DaVinci “based on opportunities arising from organic growth”, he said.
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The reinsurer beat estimates of $3.71 per share and reported raising $700mn in capital through third-party vehicles.
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Alex Shepherd joins from the role of property head at Syndicate 1458.
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The ILS market faces a test to recover position as it loses market share to traditional players.
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The underwriter moves following the completion of RenRe’s takeover of the Tokio Marine unit.
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