RenaissanceRe

After moving into the rank of fifth-largest reinsurer, following its acquisition of Validus, RenRe said it would continue to take a leading role in the regional cat space and expected to be more able to trade through market cycles.

The Bermudian firm said it expects the acquisition could drive more growth than the prior forecast of $2.7bn incremental premium.

The Inside P&C news team runs you through the earnings results for the day.

The deal was announced in late May, with RenRe taking over AIG’s treaty business, including AlphaCat Managers, and all renewal rights to Talbot’s reinsurance treaty unit.

A 15% tax is in the works, but appears manageable, and with (re)insurance being Bermuda’s largest industry, the territory will take steps to keep companies where they are.

Differences in reinsurer strategies and risk management lead to differentiation in stock multiples and long-term value creation.

The reinsurer said it was monitoring conditions in the property E&S markets, where it has been reducing capacity to grow in property treaty, as rate gains could provide fertile ground for future growth.

The Inside P&C news team runs you through the earnings results for the day.

Inside P&C’s news team runs you through the key highlights of the week.

Reinsurers have mostly grown since before the Covid crisis, but the type and timing of growth affects value creation,

Recent top line growth and improved performance will need to be weighed against historical underperformance at group level, but the opportunity could attract a non-traditional buyer.

Morgan Stanley and Golman Sachs exercised in full their right to buy 945,000 shares in the company.