New RenRe Sidecar Vehicle Launched

Bermuda’s RenaissanceRe has confirmed that it has launched a new sidecar Upsilon Re, which will target collateralised retrocession business.

The February edition of industry journal “The Insurance Insider”, published today [Feb. 8], reported that RenaissanceRe had added a new joint venture to its line-up.

RenaissanceRe confirmed the news in an earnings call, reporting that the Upsilon vehicle wrote over $30 million of premiums at 1 January.

Established in 1993, Hamilton-based RenaissanceRe Holdings Ltd. primarily provides property-catastrophe reinsurance to insurers and reinsurers on an excess of loss basis globally.

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Category: All, Business