Rate momentum positive for mid-year renewals: O'Donnell

RenaissanceRe CEO Kevin O'Donnell has predicted that the
positive rate momentum seen in 1 January will follow through to
renewals in June and July, given the amount of loss-affected
business due to renew.
However, the executive warned that while market conditions
should continue to improve, a sustained change in underlying rates
was needed before there will be a material increase in the
profitability of RenRe's portfolio.
Speaking to analysts following the release of RenRe's
fourth-quarter earni