Hashtag: #RenaissanceRe
CEOs: Rate Increases Won’t Off-Set Losses
Investment yields, low interest rates, less-favorable reserves and high catastrophe losses are working together to create a market hardening, according to Bermuda reinsurance and specialty-insurance executives. However, rate increases are not enough to offset losses, according to a report in re/insurance journal “Property Casualty 360″ today... Read more of this article
RenaissanceRe Profits Tumble 76%
Bermuda reinsurance company RenaissanceRe Holdings Ltd. this week [Nov. 1] posted a 76 percent drop in third-quarter profit, mainly due to big investment losses during the worst quarter for the markets since the economic crisis. Pembroke-based RenaissanceRe said net income attributable to common shareholders fell to $49.3 million, or 95 cents per share,... Read more of this article
The 9/11 Attacks & Bermuda’s Class Of ’01
The tenth anniversary of the September 11 terror attacks on the US last month provided time for reflection on how the world has changed for good and ill since then, the “Financial Times” reported this week — saying both Bermuda and the global insurance industry were altered beyond recognition by those events. Osama bin-Laden’s... Read more of this article
RenaissanceRe: $0.26 Quarterly Dividend
The Board of Directors of Bermuda-based re/insurer RenaissanceRe Holdings Ltd announced a quarterly dividend of $0.26 per common share on its common stock. The dividend is payable on September 30, 2011 to shareholders of record on September 15, 2011. Last month RenaissanceRe reported a 2011 second quarter net income of $24.8 million, a reduction of... Read more of this article
RenaissanceRe Q2 Net Income Down From 2010
Bermuda based reinsurer RenaissanceRe Holdings Ltd reported a 2011 second quarter net income of $24.8 million, a reduction of the $210.2 million net income the Company had in the second quarter of 2010. A statement released by the company said, “RenaissanceRe Holdings Ltd. reported net income available to RenaissanceRe common shareholders of $24.8... Read more of this article
$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... Read more of this article
Best Affirms Top Layer Re’s ‘A+’ Ratings
A.M. Best Co. has today [May 26] affirmed the financial strength rating [FSR] of ‘A+’ [Superior] and issuer credit rating [ICR] of “aa-” of Bermuda-based Top Layer Reinsurance Ltd., both with stable outlooks. The ratings reflect the “substantial amount of support Top Layer receives from its co-owners, State Farm Mutual Automobile Insurance... Read more of this article
RenaissanceRe Announces Quarterly Dividend
Yesterday [May 18] the Board of Directors of RenaissanceRe Holdings Ltd. announced a quarterly dividend of $0.26 per common share on its common stock. The dividend is payable on June 30, 2011 to shareholders of record on June 15, 2011 Bermuda-based RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. Related Stories RenaissanceRe... Read more of this article
RenaissanceRe Bottom Line Hit By Disasters
Bermuda re/insurer RenaissanceRe Holdings Ltd. said yesterday [Apr. 26] the company’s bottom line had been rocked by $427.4 million of losses related to the Japanese earthquake and tsunami, Australian flooding and the quake in New Zealand. The re/insurer said core earnings declined during the first-quarter. Catastrophe costs for Bermuda’s... Read more of this article
RenaissanceRe Sciences Foundation Honoured
Bermuda-based RenaissanceRe Holdings Ltd. has announced the RenaissanceRe Risk Sciences Foundation received the Outstanding Achievement Award for Mitigation from the 2011 National Hurricane Conference on April 19 in Atlanta, Georgia. The award recognised the RenaissanceRe Risk Sciences Foundation’s sponsorship of its series of five Risk Mitigation... Read more of this article
RenRe Japan Quake Estimate: $220 Million
RenaissanceRe Holdings Ltd. today [Apr.18] announced its initial loss estimate from the Tohoku earthquake and subsequent tsunami on March 11, 2011, saying they expects that losses will have a net negative impact of approximately $220 million on its first quarter 2011 results. Net negative impact includes the sum of estimates of net claims and claim... Read more of this article
RenRe: Aussie, NZ, Japan Loss Estimates
Bermuda based re/insurer RenaissanceRe Holdings Ltd. yesterday [Mar.16] announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake, and commented on the recent earthquake and tsunami in Japan. The Company currently expects the 2011 Australian flooding and the February 2011 New Zealand earthquake... Read more of this article
