RenaissanceRe
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The growth contrasted with a 2 percent slide in collective assets among the top tier of ILS players. -
The retro-focussed Upsilon fund saw limited growth, while the Medici cat bond fund attracted $107mn in new capital.
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The RenRe CEO also flagged changes to the firm’s purchased and written retro portfolios in mid-year renewals.
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The withdrawal of Catco created retro opportunities for the reinsurer, according to the CEO.
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The reinsurer’s Q2 catastrophe property GWP rose by 37.7 percent year on year.
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A total of $23.3mn is being held across bonds from 2017 and 2018.
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The executive will work alongside head of international catastrophe Andrew Mellor at the Bermuda reinsurer.
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With Nephila’s market share slightly shrinking, RenaissanceRe and Gen Re moved up the Florida leaderboard.
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The former Tokio Millennium Re executive will help encourage uptake of the firm’s trial launch.
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Everest Re and RenaissanceRe have given their support to the initiative.
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Increased retro costs mean RenaissanceRe will likely be retaining more risk.
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The DaVinci Re result drove net income from $29.9mn in the first quarter of 2018 to $70.2mn at the end of Q1 this year.
