RenaissanceRe third-party capital AUM now $7.17bn. Medici cat bond fund passes $2bn – Cyber Tech

Third-party investor capital below administration in reinsurance joint-ventures and insurance-linked securities (ILS) funds managed by RenaissanceRe’s Capital Companions division has now eclipsed the $7 billion mark, to achieve $7.17 billion on the finish of the first-quarter, whereas the managers cat bond fund surpassed $2 billion for the primary time.

Over the past twelve-months, RenaissanceRe’s Capital Companions division grew its third-party investor property below administration (AUM) by roughly $580 million, or 9%.

Over the past quarter of document, via Q1 2024, RenaissanceRe (RenRe) accomplice capital elevated by $220 million.

It’s the primary time, for 1 / 4’s finish, that RenRe’s third-party accomplice capital AUM has surpassed the $7 billion milestone, having sat at just under the determine after the January 1st reinsurance renewals.

Over the first-quarter of 2024, RenRe has grown the third-party property of various its reinsurance funding methods, most notably the DaVinci equity-backed reinsurer that operates as a sort of sidecar automobile.

However, wanting again over a 12-month horizon, the strongest year-on-year progress got here via RenRe’s Medici disaster bond fund, which added nearly half a billion in third-party capital within the final yr.

In consequence, the Medici cat bond fund now counts an end-of-quarter document of $1.78 billion in third-party capital, whereas together with RenRe’s personal funding stake within the fund, the general Medici fund AUM has now surpassed $2 billion for the first-time ever.

The DaVinciRe reinsurance joint-venture now counts $3.61 billion in complete property (together with RenRe’s stake), Vermeer Re is at $1.43 billion, the Fontana casualty and specialty traces technique is at $610 million and the principle Upsilon diversified fund is now at $520 million.

On prime of this, RenRe’s Capital Companions workforce additionally takes care of various managed and segregated accounts on behalf of traders, which accounts for the rest.

Complete third-party investor and RenRe’s capital within the Capital Companions’ ILS funds and reinsurance joint-ventures has now reached a brand new excessive at $8.46 billion as of March thirty first, up by $270 million within the quarter and $660 million over the past 12-months.

With now $7.17 billion in third-party capital throughout its vary of joint-venture reinsurers and ILS funds, RenaissanceRe stays one of many largest managers of property within the ILS market.

As we reported lately, the price revenue earned by this enterprise soared 87% within the quarter and the corporate added nearly $566 million of third-party capital within the first-quarter of 2024.

View info on many devoted ILS fund managers, in addition to reinsurers providing ILS model funding alternatives, reminiscent of RenaissanceRe, in our Insurance coverage-Linked Securities Funding Managers & Funds Listing.