Profile: Renaissancere Holdings Ltd (RNR_pc.N)
22 May 2015
Renaissancere Holdings Ltd., incorporated on June 7, 1993, is a Bermuda-based reinsurance and insurance company. The Company provides reinsurance and insurance coverages and related services. The Company operates in segments including: Catastrophe Reinsurance, Specialty Reinsurance, Lloyd’s, Ventures, and Others. Catastrophe Reinsurance, offers coverage against natural catastrophes, such as earthquakes, hurricanes and tsunamis, as well as, other natural and man-made catastrophes. Specialty Reinsurance, offers coverage in aviation, casualty clash, catastrophe exposed personal lines property. Lloyd’s, underwriting platform provides access to Lloyd’s distribution network. Ventures, engaged in Property Catastrophe Managed Joint Ventures, DaVinci, Top Layer Re, Upsilon RFO, Medici, Strategic Investments, and Other Transactions.
Catastrophe Reinsurance Segment
Property catastrophe reinsurance is written for own account, for DaVinci and for other joint ventures. The Company is a provider of this coverage, based on total catastrophe gross premiums written. This coverage protects against large natural catastrophes, such as earthquakes, hurricanes and tsunamis, as well as claims arising from other natural and man-made catastrophes such as winter storms, freezes, floods, fires, wind storms, tornadoes, explosions and acts of terrorism. The Company offers this coverage to insurance companies and other reinsurers primarily on an excess of loss basis. This means that the Company begins paying when customers’ claims from a catastrophe exceed a certain retained amount. The Company also offer proportional coverages and other structures on a catastrophe-exposed basis and may increase these offerings on an absolute as well as relative basis in the future.
Specialty Reinsurance Segment
The Company writes specialty reinsurance for own account and for DaVinci, covering certain targeted classes of business where the Company offers underwriting and pricing. The Company’s underwriting includes classes of business, such as aviation, casualty clash, catastrophe exposed personal lines property, catastrophe exposed workers’ compensation, crop, energy, financial, mortgage guaranty, political risk, surety, terrorism, trade credit, certain other casualty lines including directors and officers liability, general liability, medical malpractice and professional indemnity, and other specialty lines of reinsurance that are referred to as specialty reinsurance. The Company seeks to expand specialty reinsurance operations.
The Company’s Lloyd’s segment includes insurance and reinsurance business written for own account through Syndicate 1458. The Syndicate 1458 underwriting platform provides access to Lloyd’s distribution network.
The Company pursues opportunities through ventures unit, which is responsible for creating and managing joint ventures. Property Catastrophe Managed Joint Ventures manage property catastrophe-oriented joint ventures. DaVinci writes property catastrophe reinsurance and certain low frequency, high severity specialty reinsurance lines of business across the world. Top Layer Re writes high excess non-United States property catastrophe reinsurance. Upsilon RFO provides additional capacity to the aggregate across the world and per-occurrence primary and retrocessional property catastrophe excess of loss market. Medici is an exempted fund and seeks to invest in assets in various insurance-based investment instruments that have returns primarily tied to property catastrophe risk.
The Company’s Other category primarily includes: share of strategic investments in certain markets that offer attractive risk-adjusted returns and where the investment adds value, and where, the Company partners with other market participants; investment unit which manages and invests the funds generated by consolidated operations; corporate expenses, capital services costs and noncontrolling interests; the results of discontinued operations, and the remnants of Bermuda-based insurance operations.
Renaissancere Holdings Ltd
12 Crow Lane
PEMBROKE HM 19