RenaissanceRe
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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.
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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.
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The committee is the most senior management team at the Bermuda company, responsible for governance and strategy of the firm.
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Fontana investors will face a short lock-up period in the sidecar’s ramp-up phase, but thereafter there will be some “embedded liquidity.”
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The new platform extends RenRe’s suite of ILS and reinsurance strategies.
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The carrier has introduced a number of ESG-focused roles, which sees Cathal Carr, SVP, underwriting, appointed as global head of climate and sustainability strategy.
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Executive pay at RenaissanceRe fell for the second year in a row in 2021 after a “disappointing” return for shareholders in a year of elevated natural catastrophes.
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Carr was previously SVP, global head of property catastrophe at the reinsurer.
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RenaissanceRe has nominated Shyam Gidumal to its board, while Jean Hamilton is set to retire from the board in May 2022.
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RenaissanceRe had raised $470mn for the high-risk fund platform a year earlier.
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The company’s DaVinci fund grew by $500mn as it took in a higher share of cat risk from the group.
