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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%. -
The syndicate is expected to write ~$300mn of business in 2026.
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Operating revenues were also up on the $29.1mn reported over Q2.
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O’Donnell believes RenRe is well positioned to produce longer-tail risk to third-party investors.
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Third-party investors made a net income of $415mn in the quarter.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Central pressure of 900mb or below would trigger a full loss of the $150mn deal.
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The legacy cover will backstop policies written by its North American insurance business.
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Pricing on Friday implied a potential $45mn loss to the bond, before the storm outlook deteriorated.
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So far this year, there have been 11 first-time sponsors to place a deal.
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Competition on price from traditional markets is weighing on bond market momentum.
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The insurer of last resort’s exposure was $696bn as of last September.
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