RenaissanceRe

All four of the firm’s key third-party vehicles were profitable in the quarter.

The headline market drop in AuM belies a more lively growth story for funds operating outside of the ILS major league.

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 bond includes two layers protecting against annual aggregate and occurrence losses.

The market is characterised by rising prices and shrinking deal sizes as investors pick and choose over which bonds to back.

The transaction across two tranches is offering higher multiples compared to the 2021 Mona Lisa issuance, with pricing on the aggregate layer almost 80% up despite carrying a lower risk level.

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.

Some firms have fared better than others in the competition to raise funds during the year.

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

The reinsurer raised $122mn in Q3, including $100mn for PGGM joint venture Vermeer and $22mn in its cat bond fund.