RenaissanceRe Holdings Ltd. provides reinsurance and insurance products around the world. The company was founded in 1993 and is headquartered in Bermuda with offices in Ireland, Australia, Switzerland, Singapore, and the US.
The company operates through two segments that include multiple underlying businesses and investment vehicles. The two main segments are Property and Casualty & Specialty. The company operates through intermediaries that include DaVinci Resinsurance Inc, Top Layer Reinsurance LTD, and RennaisanceRe Syndicate 1458 among others.
Top Layer Re is the first major venture and was started in 1999. It is a joint venture with State Farm targeting high layers of the US reinsurance business. DaVinci Re was formed in the wake of 9/11 to assist with capacity and it was given added capacity in the wake of hurricanes Katrina, Rita, and Wilma. Medici was formed in 2009 and is an open-ended fund intended to spur investment in the catastrophe bond market.
The Property segment writes catastrophic insurance policies to insure insurance and reinsurance companies against natural and man-made catastrophes. These include but are not limited to hurricanes, floods, freezes, and terrorism.
The Casualty & Specialty segment provides a wide range of consumer products including business insurance, malpractice insurance, liability insurance, workers' compensation, mortgage insurance, and health insurance among others.
Among RenaissanceRe’s Specialty businesses is capital management. The firm offers 6 investment vehicles and has more than $11 billion under management making it the #1 ILS or insurance-linked asset manager in the US. In regards to its credit ratings, the firm and all of its vehicles carry an A or better rating from every credit rating agency.