We have been managing third party capital since 1999 and are the only reinsurer that has owned and managed, rated and fronted at-scale vehicles across every class of risk that we write.
– Kevin O’Donnell, President and CEO
RenaissanceRe Capital Partners
We are an industry-leading manager of ILS capital, serving the needs of large institutional investors by bringing RenaissanceRe’s reputation for superior risk selection and portfolio construction to our insurance-linked strategies. Our unique hybrid model of owned and managed capital provides broad access to risk, specialized underwriting, and strong governance and ensures our interests are aligned with those of our investors.
More than two decades ago, RenaissanceRe Capital Partners pioneered the matching of attractive insurance-linked risk with partner capital. Since then, we have expanded our offerings to encompass RenaissanceRe’s Property and Casualty & Specialty underwriting portfolio, providing our investors with access to the broad range of uncorrelated asset classes that they seek when constructing their portfolios.
RenaissanceRe Capital Partners delivers a differentiated model focusing on long-term partnerships, excellent service and bringing high-quality capacity to the market.
(1)September 30, 2022.
(2)Partner capital includes RenaissanceRe’s co-investment and ownership in DaVinci, Fontana, Medici, Top Layer and Upsilon, as well as third-party capital in DaVinci (plus debt), Fontana, Medici, Top Layer,
Upsilon and Vermeer. Figures reflected as follows: DaVinci common shareholders’ equity and debt; Top Layer’s equity capital supported by a $75M credit facility plus $3.9 billion stop loss reinsurance provided by State Farm; Vermeer common shareholders’ equity; Upsilon and Medici as total capital invested in non-voting participating shares; and Fontana limited partners’ capital. Information as of September 30, 2022.
(3)Source: Trading Risk: ILS Investor Guide, H1 2022. Based on third-party capital, not including RenaissanceRe’s co-investment. Adjustments to source figures for RenaissanceRe include addition of $4 billion related to Top Layer and reduction of $780 million related to Langhorne, a vehicle targeting large in-force life and annuity blocks.
We manage third-party capital relationships through various joint ventures and managed funds. Our Property and Casualty & Specialty vehicles are:
Established: Bermuda, 1999
Ratings: S&P: AA | A.M. Best: A+
Investors: 50/50 joint venture with State Farm
Why Formed: In response to clients’ desires to have highly secure and rated balance sheets at the top end of their catastrophe reinsurance programs
Target business: Whole account quota share of casualty & specialty business, including credit
Backed by deep expertise and a commitment to share our investors’ risk, we have more than two decades of proven experience creating innovative joint ventures and special purpose vehicles that match desirable risk with partner capital.
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Company is founded in Bermuda.
Top Layer Re
Joint venture with State Farm targeting high layers of non-U.S. catastrophe reinsurance business.
Joint venture formed to provide capacity following 9/11 with additional capacity in 2005 following Hurricanes Katrina, Rita and Wilma
Short-dated portfolio, which was renewed in 2007, of Atlantic windstorm-exposed accounts underwritten and managed by RenaissanceRe
Partnered with financial investors to create short-dated vehicles, which were renewed in 2009 and 2012, targeting Reinstatement Premium Protection covers in Florida
Open-ended fund created to facilitate investment in the growing catastrophe bonds (ILS) market using RenaissanceRe and third-party capital
Upsilon Fund Strategy
Open-ended fund to provide capacity to the reinsurance and retrocessional property catastrophe markets through a collateralized reinsurance structure
Formed to provide collateralized capacity to RenaissanceRe via private placement of participating notes listed on the Bermuda Stock Exchange. Four series issued
Focused on risk remote layers in the U.S. property catastrophe market
RenaissanceRe’s first joint venture 100% dedicated to writing casualty and specialty risks, including long-tail lines.