RenaissanceRe Capital Partners formed with Parry as Global Head

RenaissanceRe Capital Partners formed with Parry as Global Head

RenaissanceRe, the Bermuda-based reinsurance company and third-party capital management specialist, has announced a rebranding of its Ventures business as RenaissanceRe Capital Partners, with Chris Parry taking the lead function as its Global Head.Ventures had actually been the unit under which RenaissanceRes (RenRe) third-party capital, joint endeavor and insurance-linked securities (ILS) investment management operations have been carried out, but the rebrand places Capital front and centre, more highlighting the significance of these activities, in addition to ILS and ingenious collateralized reinsurance structures to the business.
RenaissanceRe Capital Partners will be focused on handling the companies third-party capital relationships, joint ventures and handled ILS funds, consisting of DaVinci, Medici, Top Layer, Upsilon, and Vermeer.
As we reported last month, RenRes third-party capital possessions under management reached a brand-new high at $6.4 billion, thanks to fresh capital being raised for renewals and in specific ongoing growth of the collateralized reinsurance and retrocession technique Upsilon.
There have been changes in the RenRe Ventures organization over the last year, with the departure of its leader Aditya Dutt causing CEO Kevin ODonnell taking charge of the unit.
Chris Parry will now handle the role of SVP, Global Head– Capital Partners as soon as approvals are received and will lead the RenRe Capital partners organization, reporting to Kevin ODonnell, President and Chief Executive Officer.
Parry joined RenRe back in 2016, having previously worked as an ILS, reinsurance capital markets and catastrophe bond professional broker at Aon Securities.
In the time Parry has been with the unit, RenRe has actually grown its third-party reinsurance capital possessions under management considerably, from around $1.6 billion at the end of 2016, to the $6.4 billion now managed under the RenaissanceRe Capital Partners system today.
Kevin ODonnell discussed the news, “Our method is to match attractive danger with effective capital, and over the last 20 years, our third-party capital management organization has actually turned into among the most distinguished in the market. Vital to this success has actually been our collaboration approach and strong alignment with third-party financiers. The name RenaissanceRe Capital Partners shows this differentiated design.”
Together with this change, the other tactical investments pillar of the Ventures business has actually also been broken out and will now be rebranded as RenaissanceRe Strategic Investments.
Jonathan (J.J.) Anderson takes the position of SVP, Global Head– Strategic Investments, reporting to Bob Qutub, Chief Financial Officer, with obligation for sourcing and managing public and personal financial investments that have the ability to create appealing risk-adjusted returns while supporting and advancing RenRes organization goals.
Qutub commented, “Operating an Integrated System is a crucial element of our strategy. Bringing RenaissanceRe Strategic Investments under the finance umbrella will merge our financial investment approach, boost our company capabilities and increase shareholder value.”
ODonnell included, “Chris and J.J. are highly skilled RenaissanceRe employee and Bob and I look forward to continue dealing with them as we advance our strategy through these 2 crucial functions.”

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