RenaissanceRe
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The allocation is around 3% of the fund’s total assets. -
Improved performance and growing investment returns played a role in the upgrade.
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Reinsurers are confident on cat rates and ready to deploy ILS capital.
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The firm’s ILS vehicles posted low single-digit growth in assets under management in Q2.
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The merged business of Twelve Securis ranked third among ILS managers for AuM, behind Fermat and RenRe.
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Reserve releases helped to recapture deferred fees.
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The reinsurer returned $216.7mn to investors in Q2.
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The awards celebration took place at the Hilton Bankside on 25 June.
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Some assets in the Medici Fund were transferred to a new UCITS strategy.
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The firm’s assets under management were down $300mn in Q1 as performance fee income was hit.
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January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
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Sources warned some property XoL books are already running 50% loss ratios.
