RenaissanceRe launches special purpose vehicle
RenaissanceRe has announced the formation of Upsilon Reinsurance II Ltd, a new Bermuda-domiciled special purpose insurance vehicle that will create additional reinsurance capacity for the global retrocessional reinsurance market.
Upsilon Re II is capitalised by both private investors and RenRe deploying $185 million of fully-collateralised reinsurance capacity.
Upsilon Re II is managed by Renaissance Underwriting Managers and may raise additional capital and provide additional fully-collateralised reinsurance capacity if market opportunities exist.
We are pleased to announce the formation of Upsilon Re II to serve our retrocessional clients worldwide and continue our track record of providing our clients with appropriate capital, said Neill Currie, CEO of RenaissanceRe Holdings, Ltd. Through this endeavour, we are able to both serve our clients needs and design a facility that allows investors to efficiently participate in the retrocessional reinsurance market.
Employee admits stealing more than $27,000
Three lose appeals over gang shootings
Dismont advises against naming offenders
Defending of Kimathi disgrace to talk radio
Inspiring mom survives second brain tumour
Trial date due in Government, BPSU dispute
Jury played recording in conspiracy trial
What makes a burger great? Ask Cesar
Hotels fully booked for World Series
Witness was ‘threatened and promised cash’
Mix 106FM back on air permanently
Life-saving drug approved after heroin death
Jobs go but Axis renews lease for ten years
Lighting up the night on Front Street
Government revenue and spending increase
Exploring the five-second food rule
Take Our Poll