RenaissanceRe celebrates 30th anniversary

RenaissanceRe celebrated its 30th anniversary this week, marking three decades of evolution from its start in the wake of Hurricane Andrew.

One of the two surviving companies from the Class of 92, RenRe was launched as a catrastrophe reinsurer after Hurricane Andrew caused billions of dollars of damage in South Florida and led to a capacity shortage for catastrophes.

A pioneer of catastrophe modelling, RenRe has evolved since its founding in 1993 into a leading global property, casualty and specialty reinsurer with platforms in seven countries and $9.2 billion in gross written premium in 2022.

Kevin O’Donnell, president and chief executive officer, said: “When RenaissanceRe was founded 30 years ago, our goal was to bring a renaissance to the underwriting of property catastrophe reinsurance.

"While we have grown and diversified over the decades, we have stayed true to this vision of being the best underwriter and our mission of matching desirable risk with efficient capital. At the same time, we have built the scale and capabilities necessary to broadly serve the needs of our customers.

" We are deeply appreciative of the long-standing support from all of our partners who make it possible for us to fulfill our purpose -- to protect communities and enable prosperity.”

He added: “To the more than 700 RenaissanceRe employees around the world, thank you. We could not have achieved all we have over the last three decades without your dedication and the unique culture that you all continue to foster.

"This is an exciting time for RenaissanceRe as we continue to grow our company in one of the most attractive reinsurance markets in our history. I look forward to all that we will accomplish together.”