RenaissanceRe
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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. -
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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The Japanese carrier says loss derives mainly from an appreciation in the value of the yen since TMR’s launch in 2000.
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About 46 percent of shareholders disapproved of O’Donnell’s compensation in a non-binding advisory vote.
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First-quarter combined ratios deteriorated at most Bermuda-based (re)insurers.
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The reinsurer, now owned by RenaissanceRe, had reported a loss of $158.8mn in 2017.
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Reinsurers recognize the need for more rate for the risk being ceded, O’Donnell said on the firm’s Q1 call.
