| Business Summary | | RenaissanceRe
Holdings
Ltd.
is
a
provider
of
property
catastrophe
reinsurance
coverage.
The
Company
principally
provides
reinsurance
to
insurers
and
reinsurers,
with
exposures
worldwide,
on
an
excess-of-loss
basis.
RenaissanceRe
begins
paying
when
its
customers'
claims
from
a
particular
catastrophe
exceed
a
specified
amount.
Property
catastrophe
reinsurance
generally
provides
protection
from
claims
arising
from
large
catastrophes,
such
as
earthquakes,
hurricanes,
winter
storms,
freezes,
floods,
fires,
tornados
and
other
man-made
or
natural
disasters.
To
leverage
its
underwriting
skills,
the
Company
has
begun
to
write
property
catastrophe
reinsurance
on
behalf
of
its
two
joint
ventures,
Top
Layer
Reinsurance
Ltd.
with
State
Farm
Mutual
Automobile
Insurance
Company
and
Overseas
Partners
Cat
Ltd.
with
Overseas
Partners
Ltd.
RenaissanceRe
also
writes
certain
specialty
lines
of
reinsurance,
in
addition
to
primary
insurance
that
is
exposed
to
catastrophe
risk. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | RenaissanceRe
Holdings
provides
property
catastrophe
reinsurance
coverage
to
insurers
and
reinsurers
worldwide,
primarily
on
an
excess
of
loss
basis.
For
the
six
months
ended
6/30/01,
total
revenues
increased
47%
to
$213.8
million.
Net
income
increased
58%
to
$85.2
million.
Revenues
reflect
an
increase
in
net
premiums
written
from
higher
catastrophe
reinsurance
premium
and
other
lines
of
reinsurance.
Net
income
reflects
a
decrease
in
interest
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| James Stanard, 52 Chairman,
Pres, CEO, Director | $3.8M | $12.6M | John Lummis, 43 CFO,
Exec. VP | 2.0M | 539K | William Riker, 41 Exec.
VP of the Company. Pres & COO - Renaissance Reinsurance Ltd. | 1.6M | 4.8M | David Eklund, 41 Exec.
VP and CUO of Renaissance Reinsurance Ltd. | 1.5M | 5.2M | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|