DaVinci Re "core and strategic" for RenaissanceRe: Moody's

Posted On: Feb. 4, 2015 12:00 AM CST

Moody's Investors Service Inc. has said that DaVinci Reinsurance Ltd. is pivotal to RenaissanceRe Holdings Ltd.'s future, Artemis.bm reported.

DaVinci Re is nearly 77% capitalized by third-party investors and RenaissanceRe owns the rest.

The ratings agency said the sidecar is "core and strategic" for RenaissanceRe's business.

It has affirmed DaVinci Re with a stable outlook, despite a negative outlook on RenaissanceRe, Artemis.bm reports.