$100m Equity Capital Raise Completed
Bermuda based RenaissanceRe Holdings Ltd announced that its consolidated joint venture DaVinciRe Holdings Ltd. completed an equity capital raise of $100 million from new and existing investors.
The capital will be used to support the ongoing underwriting activities of DaVinci’s subsidiary DaVinci Reinsurance Ltd., which principally writes property catastrophe reinsurance and certain classes of specialty reinsurance.
Neill Currie, CEOof RenaissanceRe Holdings Ltd., stated: “We are pleased to announce the closing of this financing for DaVinci. As the industry digests the ramifications of the events of this year and refines tools to better assess risk exposure, our capital strength and our ability to access and deploy third party capital position us well to match reinsurance capacity to the needs of our clients.”
