RenaissanceRe expects $725 million in net catastrophe loss

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. expects $725 million in net catastrophe loss for the third quarter of the year, Artemis reported. The reinsurer expects a $210 million hit from the severe floods in Europe, $440 million hit from Hurricane Ida in the U.S. and the remainder of losses from other global events.