RenRe buys more retrocessional protection than expected

Kevin O'Donnell, chief executive at Bermuda-based RenaissanceRe Holdings Ltd., said that the reinsurer purchased more retrocessional protection at the January renewals than originally anticipated, Artemis reported. Mr. O'Donnell said that the retro market was highly dislocated heading into the renewals, with tighter terms, higher rates, and an ongoing shift from aggregate structures to occurrence, which presented an opportunity to RenRe.