Ren Re launches US platform
RenaissanceRe Holdings has formed RenaissanceRe Underwriting Managers US, a specialty reinsurance agency based in Connecticut, which will support the growth of new products and services in the US specialty market.
The new formation, which is an indirect wholly-owned subsidiary of Ren Re, will provide specialty treaty reinsurance solutions on both a quota share and excess of loss basis, with initial classes of business to include professional liability, general casualty and other specialty lines.
David Marra, senior vice president of Ren Re responsible for the company’s specialty business, will lead the initiative in addition to his current role in Bermuda.
The agency will write business on behalf of RenaissanceRe Specialty US, a Bermuda-domiciled reinsurer launched in June 2013, and RenaissanceRe Syndicate 1458, subject to Lloyd's approval.
"We are pleased to announce the expansion of our global reinsurance operations to the United States, bringing us closer to specialty clients there,” said Kevin O'Donnell, president and CEO of RenaissanceRe Holdings. “RenaissanceRe Underwriting Managers US will allow us to expand our market access to business that does not normally come to the Bermuda or Lloyd's markets. David and our global specialty team will continue to build our portfolio of diversifying business employing our integrated system, and will remain closely coordinated across our multiple platforms."
