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RenRe Q1 impacted by Ogden and individual claims
Bermuda-based RenaissanceRe has seen its combined ratio deteriorate in the first quarter of 2017 due to the change of the personal injury Ogden discount rate in the UK and higher personal claims.
RenRe expects $30m hit from UK Ogden rate cut
Bermuda-based RenaissanceRe Holdings (RenRe) has estimated that the pre-tax impact of the Ogden rate change on its carried reserves is approximately $30 million, and will be recognised in the first quarter of 2017.
RenRe's net income rises in 2016, but combined ratio up in Q4
RenaissanceRe Holdings (RenRe) has reported net income of $69.4 million in the fourth quarter of 2016, a fall from the $92.2 million it reported in the fourth quarter of 2015. However, the Q4 figures take RenRe’s total 2016 net income to $480.6 million, up on the $408.8 million it made in 2015.
RenaissanceRe becomes latest reinsurer to create new sidecar
RenaissanceRe has become the latest Bermuda-based reinsurer to form a sidecar, following in the footsteps of Liberty Mutual and Aspen, which launched or renewed sidecars in December last year.
RenaissanceRe CIO and treasurer steps down
RenaissanceRe’s senior vice president, chief investment officer and treasurer, Todd Fonner is stepping down as of end of March 2017; the company is now assigning his responsibilities to two of its senior executives.
RenaissanceRe senior pricing actuary joins Pool Re
Pool Re, a mutual reinsurer that provides terrorism cover for commercial property in the UK, has appointed Stephen Burr as head of actuarial services.
RenaissanceRe almost doubles its profit in Q3
Bermuda-based reinsurer RenaissanceRe almost doubled its net income in the third quarter of 2016 in comparison with the same period of 2015.
RenaissanceRe adds two SVPs to finance team
RenaissanceRe has appointed James Fraser as senior vice president (SVP), chief accounting officer, and Helen James as SVP, global corporate controller.
RenaissanceRe licenses web service for binders
The Catastrophe Risk Exchange (CATEX) has agreed to provide RenaissanceRe a worldwide a license to a software application that manages the full range of a delegated authority binder or programme transactions.
Leaders to discuss Superstorm Sandy recovery in US
With the start of hurricane season on June 1, approximately 150 leading environmentalists, policy makers, scientists and insurance industry experts will gather on June 2 at the New York Stock Exchange to discuss the recovery of lower Manhattan and the lessons learned since Superstorm Sandy during the New York Recovery & Resilience Leadership Forum, sponsored by RenaissanceRe.
