RenaissanceRe Holdings has formed RenaissanceRe Underwriting Managers US, a specialty reinsurance agency based in Connecticut, which will support the growth of new products and services in the US specialty market.
RenaissanceRe Underwriting Managers US—an indirect wholly-owned subsidiary of RenaissanceRe—will provide specialty treat reinsurance solutions on both a quota share and excess of loss basis.
Initial classes of business will include professional liability, general liability, general casualty and other specialty lines.
David Marra, senior vice president of RenaissanceRe Holdings, who is responsible for the company’s RenaissanceRe’s specialty business, will lead the initiative in addition to his current role in Bermuda.
Kevin O’Donnell, president and CEO of RenaissanceRe Holdings, said: “We are pleased to announce the expansion of our global reinsurance operations to the US, bringing us closer to specialty clients there.”
“RenaissanceRe Underwriting Managers US will allow is to expand our market access to business that does not normally come to the Bermuda or Lloyd’s markets. Marra and our global specialty team will continue to build our portfolio of diversifying business employing our integrated system, and will remain closely coordinated across multiple platforms.”
