RenaissanceRe Holdings Ltd. (RNR) announced the formation of Timicuan Reinsurance III Ltd., a new Bermuda reinsurance company, creating additional reinsurance capacity for the Florida homeowners market.
Renaissance Reinsurance Ltd. and DaVinci Reinsurance Ltd. have entered into a fully-collateralized reinsurance agreement with Tim Re III, under which Renaissance Reinsurance and DaVinci will cede to Tim Re III a defined portfolio of their property catastrophe business, covering primarily hurricane risks for Florida insurers during the 2012 hurricane season. Investors, including RenaissanceRe, have agreed to capitalize Tim Re III with about $55 million of equity capital.
Tim Re III will be managed by Renaissance Underwriting Managers, Ltd.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.