RenRe expands Upsilon retro vehicle

RenaissanceRe reported a $92mn net increase in the size of its
retro-focused Upsilon collateralised funds at 1 January, as CEO
Kevin O'Donnell said new demand helped create an opportunity
for the reinsurer to grow its book.
O'Donnell said on an earnings call that retro prices in the
January renewals were down "somewhat less" than the 5
percent rate reductions that prevailed for US cat reinsurance,
having been supported by the new demand for cover.
Even though RenRe expanded its catastrophe...