RenaissanceRe

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.

In its Q2 earnings call, CEO Kevin O’Donnell said that the company held its PMLs flat while taking the benefit of increased rate.

The firm’s Medici and Fontana vehicles were hit by foreign exchange losses.

The company’s property segment booked a combined ratio of 57.6%, 13.8 points higher compared to Q2 2021 due to a higher attritional loss ratio.

The hardening rate environment in Florida provided a mid-year opportunity for some, but overall there was little growth.

The segment’s lustre has been dulled by losses and capital trapping.

The hire of the senior Horseshoe executive follows two earlier ones, as Bryce Wojciechowski and Alex Staab joined as analysts.

RenaissanceRe CEO Kevin O’Donnell explained on an earnings call his take on the mid-year renewals and a relatively low impact of the Ukraine war.

Higher interest rates drove investment write-downs that offset a turnaround in underwriting performance after last year’s first quarter was hit by Uri losses.

The committee is the most senior management team at the Bermuda company, responsible for governance and strategy of the firm.

Fontana investors will face a short lock-up period in the sidecar’s ramp-up phase, but thereafter there will be some “embedded liquidity.”

The new platform extends RenRe’s suite of ILS and reinsurance strategies.