RenaissanceRe
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In other property, Helene and Milton will assure rates remain attractive, he added. -
The firm’s AuM in four key vehicles rose $526mn in Q3.
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The deal freed up capital held against deals written in 2019 and 2020.
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Cat bond funds continue to draw interest as private ILS more challenged.
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The headline figure of $7.15bn includes $2.91bn of DaVinci equity plus debt.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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The reinsurer raised $84.5mn of third-party capital in the quarter.
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A degree of pricing volatility was evident in the market this week.
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Pricing on the Class A notes settled 11% below guidance.
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The bond is offering investors a spread range of 1,050-1,150 bps.
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The firm said it expects Capital Partners to continue to grow.
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Performance fees soared by 605% to $27.5mn from $3.9mn in Q1 2023.
