Renaissancere Holdings Ltd (NYSE: RNR-PF)

RenaissanceRe Holdings Ltd is a global provider of reinsurance and insurance offering property casualty and specialty reinsurance and certain insurance solutions to customers principally through intermediaries. The company maintains offices in Bermuda Australia Canada Ireland Singapore Switzerland the United Kingdom and the United States. Its mission is to match desirable risk with efficient capital and its vision is to be the best underwriter. To achieve these goals RenaissanceRe pursues an integrated strategy based on superior risk selection superior customer relationships and superior capital management.

The company generates revenue from three main sources: underwriting income from its core reinsurance and insurance business fee income from managing third party capital in its Capital Partners unit and investment income from its investment portfolio. Underwriting income results from the premiums earned on property catastrophe and other property reinsurance as well as casualty and specialty reinsurance and insurance contracts. Fee income consists of management fees and performance fees earned by the Capital Partners unit while investment income is derived from a conservative portfolio focused on fixed income securities and short term investments.

The company operates through two reportable segments: Property and Casualty and Specialty.

• Property: This segment provides catastrophe and other property reinsurance including excess of loss reinsurance proportional reinsurance property per risk delegated authority arrangements and regional U. S. multi line reinsurance. The segment writes business on behalf of consolidated operating subsidiaries joint ventures and managed funds.

• Casualty and Specialty: This segment provides general casualty professional liability credit and other specialty reinsurance including excess of loss and proportional coverage and insurance products primarily through delegated authority arrangements. The segment also writes business through consolidated operating subsidiaries joint ventures and managed funds.

RenaissanceRe Holdings Ltd competes with traditional insurance and reinsurance companies third party capital managers and certain Lloyd’s syndicates. The company’s competitive advantages stem from superior risk selection superior customer relationships and superior capital management which enable it to offer specialized capacity and consistent underwriting performance. RenaissanceRe holds high financial strength ratings from A. M. Best S&P Moody’s and Fitch and has been assigned an ERM score of Very Strong.

The company’s customers include insurance and reinsurance companies that are accessed through intermediaries such as Aon plc Marsh & McLennan Companies Inc and Arthur J Gallagher. In addition RenaissanceRe works with institutional investors in its joint ventures and managed funds and with cedants seeking reinsurance protection.