4 January 2017News

RenaissanceRe creates new Bermuda sidecar

RenaissanceRe has formed a new sidecar purposed to provide collateralized capacity from third party investors to Renaissance Reinsurance, the principal Bermuda-based reinsurance subsidiary of RenaissanceRe Holdings.

Fibonacci Reinsurance, a special purpose insurer, or sidecar, domiciled in Bermuda, has raised $140 million in capital from third party investors and RenaissanceRe Medici Fund.

It has issued participating notes which will be listed on the Bermuda Stock Exchange.

The company said that the arrangement enables RenaissanceRe to support its clients with additional property-catastrophe reinsurance capacity.

RenaissanceRe Holdings is a global provider of reinsurance and insurance. The Company's business consists of two main areas, property, including catastrophe reinsurance and other property reinsurance and insurance, and casualty and specialty.




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9 January 2017   Bermuda domiciled special purpose insurer Versutus has been renewed with expanded collateralised reinsurance capacity by owner and specialty re/insurer Brit in order to support its property treaty portfolio for 2017.
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13 April 2017   RenaissanceRe Holdings has announced the estimated impact of the UK Ministry of Justice's recent announcement of a decrease in the Ogden rate.
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27 June 2017   RenaissanceRe Holdings has announced that its subsidiary, RenaissanceRe Finance, has agreed to sell in an underwritten public offering $300 million aggregate principal amount of 3.450 percent Senior Notes due 2027.

More on this story

News
9 January 2017   Bermuda domiciled special purpose insurer Versutus has been renewed with expanded collateralised reinsurance capacity by owner and specialty re/insurer Brit in order to support its property treaty portfolio for 2017.
News
13 April 2017   RenaissanceRe Holdings has announced the estimated impact of the UK Ministry of Justice's recent announcement of a decrease in the Ogden rate.
News
27 June 2017   RenaissanceRe Holdings has announced that its subsidiary, RenaissanceRe Finance, has agreed to sell in an underwritten public offering $300 million aggregate principal amount of 3.450 percent Senior Notes due 2027.