RenaissanceRe
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The segment reported a 13.5-point improvement in its CoR to 56.5%, while maintaining a 14.6% growth in net written premiums. -
Shea has worked at RenRe for seven years, most recently having served as head of underwriting for credit before the promotion.
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The moves follow RenRe’s positive feedback on January 1 renewals, and UPC selling most of its outstanding policies in Florida to InsurTech Slide.
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The January 1 renewal for 2023 was “one of the most profound” the company has ever had, the CEO said.
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The Bermudian also raised third-party capital of $402.9mn effective January 1, 2023, including $377.2mn in DaVinci and the remaining in Medici.
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The world’s largest investment company has assets under management of more than $10tn.
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The firm elevated Justin O'Keefe, Cathal Carr, Fiona Walden and Bryan Dalton to US and Bermuda, Europe, casualty & specialty, and property CUOs, respectively.
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Across the P&C industry, sentiment expressed on Q3 conference calls has improved since pandemic lows.
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The reinsurer is ready to “walk away from business” where it feels pricing and terms and conditions are not good enough.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Bermudian reinsurer said both appointments are effective January 1, 2023.
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The Bermudian will purchase less retro protection in 2023, and expects a “step change” in property cat rates, O’Donnell said.
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