Third-party investor capital under management in RenaissanceRe Capital Partners range of reinsurance joint-ventures and insurance-linked securities strategies rose to $8.54 billion by September 30th 2025, with the figure increasing by $450 million in the quarter.The main drivers of continued third-party reinsurance capital and ILS assets under management in the third-quarter of this year were growth in the DaVinciRe reinsurance sidecar-like joint-venture structure, increased catastrophe bond assets under management, and growth in the balance-sheet of Vermeer Re, the rated reinsurance company backed by capital from significant ILS investor PGGM.Notably, the $8.54 billion of assets managed for third-party investors in RenaissanceRe’s range of reinsurance JV’s and ILS funds is the highest end-of-quarter figure on-record for the firm’s Capital Partners division.Perhaps even more notable though, is that once you include RenaissanceRe’s (RenRe) own co-investment stakes in these vehicles, the figure of total assets across these structures had reached $10.23 billion, the first time it has ever ended a quarter in double-digits.

Add in the Top Layer Re joint-venture reinsurer, which is backed by insurer State Farm, and RenRe’s Capital Partners division is now putting to work $14.23 billion in capital to support the reinsurer’s underwriting activities, again the highest end-of-quarter figure ever.When we last reported on RenaissanceRe’s Capital Partners third-party investor AUM, .The figure has risen by almost 6% in the third-quarter, to the new end of September 2025 high of $8.54 billion.

Over the last twelve months, RenRe’s third-party capital AUM has now risen by $820 million, or 11%.The new highs underscore the important role third-party capital plays for RenaissanceRe, as the reinsurance joint ventures, catastrophe bond and insurance-linked security (ILS) funds continue to cement their role as a key income driver for the reinsurer.Of course, this third-party capitalised firepower also augments RenRe’s stature in the global reinsurance market, and the now more than $14 billion of capital deployed by Capital Partners strategies continues to be a really meaningful addition to RenRe’s own $11.5 billion of shareholders’ equity (at September 30th 2025).

In the third-quarter, the DaVinciRe sidecar-like JV structure’s balance-sheet expanded by $240 million in third-party capital, while the Medici cat bond fund added $90 million and the newer Medici UCITS cat bond fund $20 million.In addition, Vermeer Re, the rated reinsurer backed by Dutch pension investment giant PGGM, grew its balance-sheet by $70 million.The Fontana casualty and specialty lines focused reinsurance JV vehicle also grew by $20 million in the period.

Of course, the third-quarter of the year is not typically a busy period for raising new capital, so much of the growth in third-party assets under management here is coming from retained earnings and returns, we assume.But the increasing scale of RenRe’s third-party reinsurance capital activities and the meaningful fee income it generates for the company, are significant drivers for future underwriting volumes and as such a driver of overall premium and earnings growth for the reinsurer.As we reported before, the company reported from its reinsurance joint-venture vehicles and insurance-linked securities (ILS) funds for the third-quarter of 2025.

View information on many dedicated ILS fund managers, as well as reinsurers offering ILS style investment opportunities, such as RenaissanceRe, in our ..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.