Profile: Renaissancere Holdings Ltd (RNR.N)
6 Dec 2016
RenaissanceRe Holdings Ltd., incorporated on June 7, 1993, provides reinsurance and insurance coverages and related services. The Company's core products include property catastrophe reinsurance and specialty reinsurance risks. The Company's segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd's. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company's ventures unit. Specialty Reinsurance includes specialty reinsurance and certain specialty joint ventures managed by its ventures unit. Lloyd's includes reinsurance and insurance business written through RenaissanceRe Syndicate 1458 (Syndicate 1458).
Catastrophe Reinsurance Segment
Property catastrophe reinsurance is written through its subsidiaries, joint ventures and Syndicate 1458. The Company is a provider of this coverage based on total catastrophe gross premiums written. The coverage protects against large natural catastrophes, such as earthquakes hurricanes and tsunamis, as well as claims arising from other natural and manmade catastrophes, such as winter storms freezes floods fires wind storms tornadoes explosions and acts of terrorism. The Company offers the coverage to insurance companies and other reinsurers primarily on an excess of loss basis. The Company begins paying when customers' claims from a catastrophe exceed a certain retained amount. The Company also offers proportional coverages and other structures on a catastrophe exposed basis. Its principal property catastrophe reinsurance products include catastrophe excess of loss reinsurance, excess of loss retrocessional reinsurance, quota share or proportional reinsurance and investments in insurance-linked securities.
Specialty Reinsurance Segment
The Company writes specialty reinsurance for own account and for DaVinci covering certain targeted classes of business. The Company's portfolio includes various classes of casualty business, such as automobile liability, casualty clash, catastrophe exposed workers' compensation, cyber liability, directors and officers liability, environmental liability, general liability, medical malpractice and professional indemnity, and other specialty lines of reinsurance such as accident and health, agriculture, aviation, financial guaranty, marine and energy, mortgage guaranty, multi-line regional, political risk, terrorism and trade credit, which it refers to as specialty reinsurance. The Company offers specialty reinsurance products principally on an excess of loss basis. It also provides proportional coverage.
The Company's Lloyd's segment includes insurance and reinsurance business written for own account through Syndicate 1458. Syndicate 1458 offers a range of property and casualty insurance and reinsurance products including, but not limited to, direct and facultative property, property catastrophe, agriculture, medical malpractice, general liability and professional indemnity.
The Company competes with Allied World Assurance Company, AG, Arch Capital Group Ltd., Aspen Insurance Holdings Limited, Axis Capital Holdings Limited, Chubb Limited, Endurance Specialty Holdings Ltd., Everest Re Group, Ltd., Hamilton Re Ltd., PartnerRe Ltd., Third Point Reinsurance Ltd., Validus Holdings, Ltd., White Mountains Insurance Group, Ltd., XL Group plc, American International Group, Inc., Berkshire Hathaway Inc., Hannover Ruckversicherung AG, Ironshore Inc., Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft and Swiss Re Ltd.
Renaissancere Holdings Ltd
12 Crow Lane
PEMBROKE HM 19