RenaissanceRe Holdings, the Bermudian-based reinsurer, is celebrating its 30th anniversary.

The company was founded on the island in 1993 as an underwriter of property catastrophe and specialty reinsurance and has evolved into a leading global property, casualty and specialty reinsurer with platforms in seven countries and $9.2 billion in gross written premiums in 2022.

Kevin J. O’Donnell, the president and chief executive, said: “When RenaissanceRe was founded 30 years ago, our goal was to bring a renaissance to the underwriting of property catastrophe reinsurance. While we have grown and diversified over the decades, we have stayed true to this vision of being the best underwriter and our mission of matching desirable risk with efficient capital.

“At the same time, we have built the scale and capabilities necessary to broadly serve the needs of our customers. We are deeply appreciative of the longstanding support from all of our partners who make it possible for us to fulfil our purpose — to protect communities and enable prosperity.”

He added: “To the more than 700 RenaissanceRe employees around the world, thank you. We could not have achieved all we have over the last three decades without your dedication and the unique culture that you all continue to foster.

“This is an exciting time for RenaissanceRe as we continue to grow our company in one of the most attractive reinsurance markets in our history. I look forward to all that we will accomplish together.”

RenaissanceRe entered into a definitive agreement last month with American International Group to acquire AIG’s treaty reinsurance business, which includes Validus Reinsurance, in a near $3 billion deal.

The transaction is expected to close in the fourth quarter of 2023 and is subject to customary closing conditions and regulatory approvals.