RenaissanceRe
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A 15% tax is in the works, but appears manageable, and with (re)insurance being Bermuda’s largest industry, the territory will take steps to keep companies where they are. -
Differences in reinsurer strategies and risk management lead to differentiation in stock multiples and long-term value creation.
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The reinsurer said it was monitoring conditions in the property E&S markets, where it has been reducing capacity to grow in property treaty, as rate gains could provide fertile ground for future growth.
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The Inside P&C news team runs you through the earnings results for the day.
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Inside P&C’s news team runs you through the key highlights of the week.
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Reinsurers have mostly grown since before the Covid crisis, but the type and timing of growth affects value creation,
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Recent top line growth and improved performance will need to be weighed against historical underperformance at group level, but the opportunity could attract a non-traditional buyer.
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Morgan Stanley and Golman Sachs exercised in full their right to buy 945,000 shares in the company.
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Inside P&C’s news team runs you through the key highlights of the week.
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The review will continue until the deal closes and the agency evaluates “organizational changes and strategic positioning within the new structure”.
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The recent deal is accretive at 18% and will allow RenRe to take further advantage of the hard market.
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The group exited an off-strategy business at an attractive valuation – now it must give a clearer indication of where it is going.
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