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International

RenRe to raise capital for DaVinci Re JV through $150 million debt issuance

April 30, 2015 Reprints

RenaissanceRe Holdings Ltd. is using a $150-million debt issuance to raise capital for its DaVinci Re Holdings Ltd. joint venture, reported Artemis.bm.

The proceeds would be used to repay a loan made by RenRe to the venture. The DaVinci Re vehicle enables RenRe to pool third-party capital into a rated reinsurance vehicle. It plays an important role in the reinsurer's property catastrophe underwriting strategy.

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RenRe to raise capital for DaVinci Re JV through $150 million debt issuance

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