Bermudian-based RenaissanceRe Holdings Ltd is to rebrand its Ventures business as “RenaissanceRe Capital Partners”.

The company said Chris Parry, SVP, global head, Capital Partners, will lead this business, pending approval by the Bermuda Department of Immigration.

He will report to Kevin O’Donnell, president and chief executive officer.

RenaissanceRe Capital Partners will remain focused on managing RenaissanceRe’s third-party capital relationships, joint ventures and managed funds, including DaVinci, Medici, Top Layer, Upsilon, and Vermeer, the company said.

Mr O’Donnell said: “Our strategy is to match attractive risk with efficient capital, and over the last two decades, our third-party capital management business has grown into one of the most distinguished in the industry. Critical to this success has been our partnership approach and strong alignment with third-party investors. The name RenaissanceRe Capital Partners reflects this differentiated model.”

As part of this rebranding, the company said the strategic investments pillar of the business has been renamed “RenaissanceRe Strategic Investments.”

RenRe said Jonathan (JJ) Anderson, SVP, global head, Strategic Investments, will report to Bob Qutub, chief financial officer, and be responsible for seeking and managing public and private investments that generate attractive risk-adjusted returns while advancing RenaissanceRe’s business objectives.

Mr Qutub said: “Operating an integrated system is an important aspect of our strategy. Bringing RenaissanceRe Strategic Investments under the finance umbrella will unify our investment approach, enhance our business capabilities and increase shareholder value.”

Mr O’Donnell added: “Chris and JJ are highly experienced RenaissanceRe team members and Bob and I look forward to continue working with them as we advance our strategy through these two important functions.”