RenaissanceRe
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Fontana 2.0 will encompass a more flexible investment strategy than the 2022 vehicle. -
Growth included a $240mn increase in partner capital in DaVinci equity plus debt.
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Carriers are grappling with a rush of investor interest in longer-tail lines.
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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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The allocation is around 3% of the fund’s total assets.
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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.
