In the Q2, Renaissancere Holdings Ltd's corporate clients experienced a reduction by -9.97 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -6.34 %. During the corresponding time, Renaissancere Holdings Ltd saw a revenue deteriorated by -13.66 % year on year, sequentially revenue grew by 26.14 %. While revenue at the Renaissancere Holdings Ltd's corporate clients recorded rose by 8.04 % year on year, sequentially revenue grew by 7.5 %.
Customers of Renaissancere Holdings Ltd saw their costs of revenue decrease by -9.97 % in Q2 compare to a year ago, sequentially costs of revenue were trimmed by -6.34 %, for the same period Renaissancere Holdings Ltd revnue deteriorated by -13.66 % year on year, sequentially revenue grew by 26.14 %.
Renaissancere Holdings Ltd's Comment on Sales, Marketing and Customers
We believe that primary insurers’ and brokers’ willingness to use
a particular reinsurer is based not just on pricing, but also on the financial
security of the reinsurer, its claim paying ability ratings and demonstrated willingness
to promptly pay valid claims, the quality of a reinsurer’s service, the
reinsurer’s willingness and ability to design customized programs, its long-term
stability and its commitment to provide reinsurance capacity. We believe we have
established a reputation with our brokers and customers for prompt response on
underwriting submissions, for fast payments on valid claims and for providing
creative solutions to our customers’ needs. Since we selectively write large
lines on a limited number of property catastrophe and specialty reinsurance contracts,
we can establish terms and conditions on those contracts that are attractive in
our judgment, make large commitments to the most attractive programs and provide
superior client responsiveness. We believe that our willingness and ability to
design customized programs and to provide bespoke risk management products has
helped us to develop long-term relationships with brokers and customers.
Our brokers assess client needs and perform data collection, contract preparation
and other administrative tasks, enabling us to market our products cost effectively
by maintaining a smaller staff. We believe that by maintaining close relationships
with brokers, we are able to obtain access to a broad range of potential reinsureds.
In recent years, our distribution has become increasingly reliant on a small
and relatively decreasing number of such relationships reflecting consolidation
in the broker sector. We expect this concentration to continue and perhaps increase.
The following table shows the percentage of our Catastrophe Reinsurance, Specialty
Reinsurance and Lloyd’s segments’ gross premiums written generated
through subsidiaries and affiliates of our largest brokers:
Renaissancere Holdings Ltd’s Comment on Sales, Marketing and Customers
We believe that primary insurers’ and brokers’ willingness to use
a particular reinsurer is based not just on pricing, but also on the financial
security of the reinsurer, its claim paying ability ratings and demonstrated willingness
to promptly pay valid claims, the quality of a reinsurer’s service, the
reinsurer’s willingness and ability to design customized programs, its long-term
stability and its commitment to provide reinsurance capacity. We believe we have
established a reputation with our brokers and customers for prompt response on
underwriting submissions, for fast payments on valid claims and for providing
creative solutions to our customers’ needs. Since we selectively write large
lines on a limited number of property catastrophe and specialty reinsurance contracts,
we can establish terms and conditions on those contracts that are attractive in
our judgment, make large commitments to the most attractive programs and provide
superior client responsiveness. We believe that our willingness and ability to
design customized programs and to provide bespoke risk management products has
helped us to develop long-term relationships with brokers and customers.
Our brokers assess client needs and perform data collection, contract preparation
and other administrative tasks, enabling us to market our products cost effectively
by maintaining a smaller staff. We believe that by maintaining close relationships
with brokers, we are able to obtain access to a broad range of potential reinsureds.
In recent years, our distribution has become increasingly reliant on a small
and relatively decreasing number of such relationships reflecting consolidation
in the broker sector. We expect this concentration to continue and perhaps increase.
The following table shows the percentage of our Catastrophe Reinsurance, Specialty
Reinsurance and Lloyd’s segments’ gross premiums written generated
through subsidiaries and affiliates of our largest brokers:
Sources:
Renaissancere Holdings Ltd’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Renaissancere Holdings Ltd’s corporate clients.
For your research, we’ve provided 9 tables on Renaissancere Holdings Ltd corporate clients.
You can find them in the navigation menu under Customers & Markets.
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