RenaissanceRe
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Sources warned some property XoL books are already running 50% loss ratios. -
The fund is open to European and other global investors.
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There was a slight increase in DaVinci and Fontana from 31 December 2024 to 1 January 2025.
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Models will need to steepen the curve in the tail to reflect severe event frequency.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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Strong growth in fee income builds on the favourable rating environment.
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In other property, Helene and Milton will assure rates remain attractive, he added.
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The firm’s AuM in four key vehicles rose $526mn in Q3.
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The deal freed up capital held against deals written in 2019 and 2020.
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Cat bond funds continue to draw interest as private ILS more challenged.
