PEMBROKE, Bermuda--(BUSINESS WIRE)--Jul. 25, 2013--
RenaissanceRe Holdings Ltd. (NYSE: RNR) announced the formation of
RenaissanceRe Underwriting Managers U.S. LLC, a specialty reinsurance
agency based in Connecticut, which will support the growth of new
products and services in the United States specialty market.
RenaissanceRe Underwriting Managers U.S., an indirect wholly-owned
subsidiary of RenaissanceRe, will provide specialty treaty reinsurance
solutions on both a quota share and excess of loss basis, with initial
classes of business to include professional liability, general casualty
and other specialty lines. David Marra, Senior Vice President of
RenaissanceRe Holdings Ltd. responsible for RenaissanceRe’s specialty
business, will lead the initiative in addition to his current role in
Bermuda.
The agency will write business on behalf of RenaissanceRe Specialty U.S.
Ltd., an A.M. Best ‘A’ rated and Bermuda-domiciled reinsurer launched in
June 2013, and RenaissanceRe Syndicate 1458, subject to Lloyd’s approval.
Kevin O’Donnell, President and CEO of RenaissanceRe Holdings Ltd., said:
“We are pleased to announce the expansion of our global reinsurance
operations to the United States, bringing us closer to specialty clients
there. RenaissanceRe Underwriting Managers U.S. will allow us to expand
our market access to business that does not normally come to the Bermuda
or Lloyd’s markets. David and our global specialty team will continue to
build our portfolio of diversifying business employing our integrated
system, and will remain closely coordinated across our multiple
platforms.”
RenaissanceRe Underwriting Managers U.S. is supported by RenaissanceRe’s
20-year history of market-leading expertise, disciplined underwriting,
sophisticated risk models and unparalleled claims paying record. For
more information on the agency, visit www.renre.com/renreus.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and
insurance. The Company's business consists of two reportable segments:
(i) Reinsurance, which includes catastrophe reinsurance, specialty
reinsurance and certain property catastrophe and specialty joint
ventures managed by the Company's ventures unit, and (ii) Lloyd's, which
includes reinsurance and insurance business written through Syndicate
1458.
Source: RenaissanceRe Holdings Ltd.
Investor Contact:
RenaissanceRe Holdings Ltd.
Rohan Pai,
441-295-4513
Director of Investor Relations
or
Media
Contact:
Kekst and Company
Peter Hill or Dawn Dover,
212-521-4800