RenaissanceRe

The Bermudian also raised third-party capital of $402.9mn effective January 1, 2023, including $377.2mn in DaVinci and the remaining in Medici.

The world’s largest investment company has assets under management of more than $10tn.

The firm elevated Justin O'Keefe, Cathal Carr, Fiona Walden and Bryan Dalton to US and Bermuda, Europe, casualty & specialty, and property CUOs, respectively.

The executive will continue to lead climate and sustainability underwriting initiatives in addition to his new role.

The RenRe vehicle, formerly a major retro writer, has been a reduced force this year.

The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.

The Bermudian reinsurer said both appointments are effective January 1, 2023.

A 3.9-point decline in the casualty and specialty segment offset a 2.5-point deterioration in the company’s property business.

The estimate is driven by $540mn of losses attributable to Hurricane Ian.

This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.

Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.

The carrier said increased demand should maintain upward rate pressure at January 1.