Bermuda-based re/insurer RenaissanceRe posted a solid set of results for the second quarter of 2015, driven by strong growth in premiums.
Aspen Re, the reinsurance segment of Aspen, has appointed Douglas De Couto as head of portfolio analytics.
Willis Re has launched new $400 million syndicated reinsurance facility designed to offer insurers protection against catastrophic and systemic loss accumulations arising from liability portfolios.
RenaissanceRe’s completion of its acquisition of Platinum Underwriters has not resulted in any uptick in share price –largely due to the wider competitive conditions in reinsurance at the moment, according to one analyst. But the long-term implications of the deal should be positive.
The shareholders of Platinum Underwriters have approved all the proposals related to the company’s pending acquisition by Bermuda-based RenaissanceRe.
RenaissanceRe has strengthened its board with the appointment of William Hagerty, following the retirement of board member James MacGinnitie.
RenaissanceRe’s profits dropped in 2014 as the business also shrank slightly, largely due to it writing a lower volume of catastrophe business.
Michael Price, the chief executive officer (CEO) of Platinum Underwriters, is set to step down following the acquisition of Platinum by RenaissanceRe.
RenRe's planned acquisition of Platinum Underwriters has caused mixed reviews amongst rating agencies.
RenaissanceRe has agreed to acquire fellow Bermudian Platinum Underwriters for $1.9 billion.