Hashtag: #RenaissanceRe
RenaissanceRe $400 Million Senior Note Offering
RenaissanceRe Holdings has agreed to sell in an underwritten public offering $400 million aggregate principal amount of 3.600% Senior Notes due 2029. The company said they expect to close the offering on or about April 2, 2019, subject to customary closing conditions, adding that “the senior notes have been rated A3 by Moody’s Investors Service... Read more of this article
RenaissanceRe Completes Acquisition Of TMR
RenaissanceRe Holdings Ltd. today [March 22] announced that it has concluded its acquisition of Tokio Millennium Re [TMR]. The acquisition was originally announced on October 30, 2018 and the completion follows the receipt of all necessary regulatory approvals. Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, said: “The... Read more of this article
RenRe Receives Approvals For Acquisition
RenaissanceRe Holdings announced that it has received all regulatory approvals required in connection with its previously announced acquisition of Tokio Millennium Re AG and Tokio Millennium Re [UK] Limited. RenaissanceRe had announced on October 30, 2018 that it had entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire Tokio... Read more of this article
RenaissanceRe Declare $0.34 Quarterly Dividend
The Board of Directors of Bermuda-based RenaissanceRe Holdings Ltd. voted to increase the Company’s quarterly dividend to $0.34 per common share, from $.33 per common share. “The Company has increased its dividend during each of the twenty-four years since its initial public offering. The dividend is payable on March 29, 2019, to shareholders... Read more of this article
Trudell To Join Board Of RenaissanceRe
RenaissanceRe Holdings announced that Cythnia Trudell, 65, has been nominated to serve as an independent director of the Company, and that Edward J. Zore, 73, will retire from the Board at the end of his term, each to occur in conjunction with the Company’s Annual General Meeting of Shareholders in May 2019. Ms. Trudell most recently served as Executive... Read more of this article
RenaissanceRe Report Net Loss Of $83.9M
RenaissanceRe Holdings reported a net loss attributable to RenaissanceRe common shareholders of $83.9 million, or $2.10 per diluted common share, in the fourth quarter of 2018, compared to a net loss attributable to RenaissanceRe common shareholders of $3.5 million, or $0.09 per diluted common share, in the fourth quarter of 2017. Operating income... Read more of this article
AM Best Assigns Credit Ratings To Vermeer
AM Best has assigned a Financial Strength Rating of A [Excellent] and a Long-Term Issuer Credit Rating of “a+” to Vermeer Reinsurance Ltd. The outlook assigned to these Credit Ratings [ratings] is stable. A statement from the ratings agency said, “The ratings reflect Vermeer’s balance sheet strength, which A.M. Best categorizes as very strong,... Read more of this article
RenRe Launch Property Catastrophe Reinsurer
RenaissanceRe Holdings and Dutch pension fund manager PGGM announced the creation of Vermeer Reinsurance Ltd. to provide capacity focused on risk remote layers in the U.S. property catastrophe market. The company has received an “A” financial strength rating from A.M. Best and has obtained approval in principle to be licensed and regulated by the... Read more of this article
RenRe Declare $0.33 Quarterly Dividend
The Board of Directors of Bermuda-based RenaissanceRe Holdings Ltd. announced they have declared a quarterly dividend of $0.33 per common share on its common shares. The dividend is payable on December 31, 2018, to shareholders of record on December 14, 2018. Related Stories RenaissanceRe Reports First Quarter Results RenaissanceRe Announces Quarterly... Read more of this article
Fitch Affirms RenRe Following TMR Acquisition
Following the news they will acquire Tokio Millennium Re, Fitch Ratings has affirmed the ratings of Bermuda-based RenaissanceRe Holdings and its subsidiaries, including the Issuer Default Rating [IDR] for RNR at ‘A’, and the Insurer Financial Strength [IFS] rating of Renaissance Reinsurance Ltd. at ‘A+’. The Rating Outlook... Read more of this article
RenaissanceRe Report Net Income Of $32.7M
Bermuda-based RenaissanceRe - which will be buying Tokio Millennium Re — reported net income available to RenaissanceRe common shareholders of $32.7 million, or $0.82 per diluted common share, in the third quarter of 2018, compared to a net loss attributable to RenaissanceRe common shareholders of $504.8 million, or $12.75 per diluted common... Read more of this article
RenaissanceRe To Acquire Tokio Millennium Re
Bermuda-based RenaissanceRe Holdings announced that it has entered into a definitive agreement with Tokio Marine Holdings, Inc. pursuant to which an affiliate of RenaissanceRe will acquire Tokio Marine’s reinsurance platform, which includes Tokio Millennium Re AG and Tokio Millennium Re [UK] Limited [collectively “TMR”]. “Under the terms... Read more of this article
RenRe Expect Q3 Catastrophe Loss Of $155M
Bermuda-based RenaissanceRe Holdings announced it currently estimates that losses from third quarter 2018 catastrophe events will have an estimated net negative impact of approximately $155 million on its third quarter 2018 results of operations. “The estimated losses for these events are primarily driven by Typhoon Jebi and Hurricane Florence,... Read more of this article
RenaissanceRe Urged To Explore Potential Sale
TimesSquare Capital Management — an institutional asset management firm with a significant stake in Bermuda-based RenaissanceRe Holdings – has publicly urged RenaissanceRe to undertake a “review of strategic alternatives, including a possible sale of the Company.” A letter to RenaissanceRe, released by TimesSquare, stated, “We... Read more of this article
RenRe Declare $0.33 Quarterly Dividend
The Board of Directors of Bermuda-based RenaissanceRe Holdings Ltd. announced a quarterly dividend of $0.33 per common share on its common shares. The dividend is payable on September 28, 2018, to shareholders of record on September 14, 2018. Related Stories RenaissanceRe Reports First Quarter Results RenaissanceRe Announces Quarterly Dividend RenaissanceRe... Read more of this article
RenaissanceRe Report Net Income Of $191.8M
Bermuda-based RenaissanceRe Holdings reported net income available to RenaissanceRe common shareholders of $191.8 million, or $4.78 per diluted common share, in the second quarter of 2018, compared to $171.1 million, or $4.24 per diluted common share, in the second quarter of 2017. Operating income available to RenaissanceRe common shareholders was... Read more of this article
