Third-party investor capital under management at Bermudian global reinsurer RenaissanceRe’s Capital Partners division rose by roughly $770 million in the year to March 31st 2025, taking the total to a new high of $7.94 billion.The company’s manager of third-party reinsurance capital, catastrophe bond and insurance-linked security (ILS) funds has been steadily growing its assets from investors over-time, becoming an increasingly important contributor to the reinsurance firm’s overall underwriting capacity, as well as income through fees earned.As of March 31st 2024, the total third-party investor assets managed by RenaissanceRe Capital Partners stood at $7.17 billion.That rose to $7.71 billion by the end of 2024, then a little further to $7.81 billion as of January 1st 2025.

Now, the total stands at a new high of $7.94 billion as of March 31st 2025, the latest quarterly reported information we have, with some $770 million in third-party investor capital and accumulated growth from earnings and returns added in just twelve months.As has been typical over the last year, most of that expansion in third-party capital under management came via the third-party investor backed DaVinciRe reinsurance sidecar-like joint-venture structure.DaVinci’s third-party assets rose from $2.78 billion at March 31st 2024 to a new high of $3.44 billion one year later.

Including RenaissanceRe’s (RenRe) own allocation to DaVinciRe, the vehicle held $4.4 billion of capital at March 31st this year.Equity in the Vermeer Re rated reinsurance company, which is backed by pension investor and giant ILS allocator PGGM, increased by $260 million over the last twelve months of record.Although there has been a fall in the equity value of Vermeer Re in the first-quarter of the year, which may in part be due to catastrophe loss activity from the California wildfires.

The Medici catastrophe bond fund strategies, which as of this year include the recently launched Medici UCITS cat bond fund, counted $1.68 billion of third-party capital as of March 31st, or $2.04 billion if you include RenRe’s own allocation to the cat bond strategies.The Fontana joint-venture structure, which enables investors to allocate to casualty and specialty lines of reinsurance alongside RenaissanceRe, grew to $600 million of third-party capital assets by March 31st 2025, taking the overall size of this joint-venture to $750 million including RenRe’s stake.Perhaps most impressively, adding together the $7.94 billion of third-party capital allocated to RenRe Capital Partner structures with the reinsurers own stakes takes the total capital under management across the range to $9.53 billion as of March 31st 2025, which has increased by $1.07 billion in just one year.

Add in the $4 billion of capital that remains allocated to Top Layer Re and RenRe’s total partner capital including its stakes reached a new high of $13.53 billion.Which compares to RenaissanceRe’s total shareholder equity at March 31st 2025 of $10.35 billion.The figures drive home the important role third-party capital managed in reinsurance joint-ventures and ILS funds plays in RenRe’s overall business strategy.

, even after the impacts from losses due to the Los Angeles, California wildfires in the first-quarter, RenaissanceRe still generated $30.5 million in fee income from its third-party capital management activities.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.

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