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

Posted On: Apr. 30, 2015 12:00 AM CST

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.