RenaissanceRe Holdings Limited has appointed Laurence Richardson to the post of senior vice-president of the Ventures division.

Mr. Richardson will continue to report to executive vice-president and president of Ventures, Jay Nichols.

Mr. Richardson joined the company as vice-president of the Ventures department in 2001 and managed their joint ventures, such as Top Layer Reinsurance Limited, DaVinci Reinsurance Limited and Starbound I and II.

He also managed vehicles as well as making strategic investments.

Chief executive officer of Bermuda-based RenaissanceRe, Neill Currie said: "Larry has played an integral role in enhancing RenaissanceRe's position as a market leader for managing cat risk and we are delighted to recognise his achievements with this promotion."

He added: "The Ventures group adds considerable value to our company by allowing us to leverage our expertise in our reinsurance and insurance businesses, enabling us to better serve our clients and partners."