GLRE - RenRe's Third-Party Capital Fee Income Drops On Q3 Catastrophe Impacts

• RenRe reported that noncontrolling interests, which includes and largely comprises its third-party capital and ILS investors, would have over $322 million of these claims attributable to them.
• While the catastrophe losses and the ramifications of them are clearly going to be in focus after such a quarter, it’s also notable just how much RenaissanceRe grew its portfolio during the period.
• Interestingly, this favourable developments impact on the claims and claim expense ratio amounted to 28.3% for property catastrophe reinsurance and 5.3% for other property business in the quarter, which was primarily related to the 2017 to 2019 accident years.

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