Last $101.79 USD
Change Today +0.10 / 0.10%
Volume 230.4K
RNR On Other Exchanges
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As of 8:04 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Renaissance House

12 Crow Lane

Pembroke, HM 19

Bermuda

Phone: 441-295-4513

Fax: 441-292-9453

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services worldwide. The company’s reinsurance and insurance products are principally distributed through intermediaries. The company’s core products include property catastrophe reinsurance, which it primarily writes through its principal operating subsidiary, Renaissance Reinsurance Ltd. (Renaissance Reinsurance), RenaissanceRe Syndicate 1458 (Syndicate 1458), and joint ventures, principally DaVinci Reinsurance Ltd. (DaVinci), Top Layer Reinsurance Ltd. (Top Layer Re), and Upsilon Reinsurance Fund Opportunities Ltd. (Upsilon RFO); specialty reinsurance written through Renaissance Reinsurance, RenaissanceRe Specialty Risks Ltd., RenaissanceRe Specialty U.S., Syndicate 1458, and DaVinci; and certain insurance products primarily written through Syndicate 1458 or on an excess and surplus lines basis. The company markets its reinsurance products worldwide through brokers. Segments The company’s business consists of three segments: Catastrophe Reinsurance, which includes catastrophe reinsurance and certain property catastrophe joint ventures managed by its ventures unit; Specialty Reinsurance, which includes specialty reinsurance and certain specialty joint ventures managed by its ventures unit; and Lloyd’s, which includes reinsurance and insurance business written through Syndicate 1458. In addition, the company’s Other category primarily reflects its strategic investments; investments unit; corporate expenses; capital servicing costs; noncontrolling interests; results of its discontinued operations; and the remnants of its Bermuda-based insurance operations not sold pursuant to its stock purchase agreement with QBE Holdings, Inc. Catastrophe Reinsurance segment Property catastrophe reinsurance is this segment’s traditional core business, and is principally written for the company’s own account, for DaVinci and for other joint ventures, such as Upsilon RFO. The company provides this coverage, based on total catastrophe gross premiums written. This coverage protects against natural catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes, such as winter storms, freezes, floods, fires, wind storms, tornadoes, explosions, and acts of terrorism. The company offers this coverage to insurance companies and other reinsurers primarily on an excess of loss basis. It also offers proportional coverages and other structures on a catastrophe-exposed basis and might increase these offerings on an absolute or relative basis in the future. The company’s excess of loss property catastrophe reinsurance contracts cover various natural perils. Its exposure is to losses from earthquakes and hurricanes and other windstorms, although the company is also exposed to claims arising from other catastrophes, such as tsunamis, freezes, floods, fires, tornadoes, explosions, and acts of terrorism in connection with the coverages that the company provides. Its primary exposure under such coverage is to property damage. However, other risks, including business interruption and other non-property losses, might also be covered under the company’s property reinsurance contracts when arising from a covered peril. It offers its coverages on a worldwide basis. The company’s principal property catastrophe reinsurance products include catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance. Catastrophe Excess of Loss Reinsurance The company principally writes catastrophe reinsurance on an excess of loss basis, which means it provides coverage to its insureds when aggregate claims and claim expenses from a single occurrence of a covered peril exceed the attachment point specified in a particular contract. Under these contracts, the company indemnifies an insurer for all or a specified portion of the losses on underlying insurance policies in excess of a specified amount, and up to an amount per loss specified in the contract. The coverage provided under excess of loss reinsurance contracts might be on a worldwide basis or limited in scope to selected geog

 

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Price/Cash Flow 5.5x
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