Renaissancere Holdings Ltd. (RNR): ANSOFF MATRIX ANÁLISE [JAN-2025 Atualizado]

No mundo dinâmico da ressegurança, a Renaissancere Holdings Ltd. (RNR) fica na encruzilhada de inovação e crescimento estratégico, preparado para transformar o gerenciamento de riscos por meio de uma estratégia de expansão multifacetada. Ao alavancar as tecnologias de ponta, explorar mercados emergentes e desenvolver soluções de seguro inovador, a empresa não está apenas se adaptando à paisagem em evolução, mas a remodelar ativamente. Sua matriz abrangente de Ansoff revela um roteiro ousado que promete redefinir a resiliência em um ambiente global cada vez mais complexo e imprevisível.

Renaissancere Holdings Ltd. (RNR) - ANSOFF MATRIX: Penetração de mercado

Expanda a cobertura de resseguro de catástrofe nos mercados geográficos existentes

A Renaissancere Holdings Ltd. reportou US $ 1,94 bilhão em prêmios brutos escritos para o ano de 2022. O segmento de resseguros de catástrofe da empresa gerou US $ 1,12 bilhão em prêmios durante o mesmo período.

Mercado geográfico	Prêmios brutos (2022)	Taxa de penetração de mercado
Estados Unidos	US $ 1,38 bilhão	71.1%
Caribe	US $ 290 milhões	15.0%
Europa	US $ 172 milhões	8.9%
Ásia-Pacífico	US $ 90 milhões	4.6%

Aumentar a participação de mercado por meio de estratégias de preços competitivos

A Renaissancere alcançou uma proporção combinada de 89,5% em 2022, indicando eficácia competitiva de preços.

• Aumento médio de preço no resseguro de catástrofe: 7,3%
• Retorno ajustado ao risco sobre capital: 12,4%
• Índice de Preços Competitivos: 0,92

Aprimore os recursos de subscrição digital para melhorar a aquisição de clientes

Investimento de transformação digital: US $ 42 milhões em 2022.

Capacidade digital	Investimento	Melhoria de eficiência
Plataforma de subscrição de IA	US $ 18 milhões	22% de processamento mais rápido
Software de modelagem de risco	US $ 15 milhões	15% mais previsões precisas
Portal de engajamento do cliente	US $ 9 milhões	35% aumentou a retenção de clientes

Fortalecer os relacionamentos com clientes de seguros e resseguros existentes

Taxa de retenção de clientes: 94,6% em 2022.

• Número de relacionamentos de clientes de longo prazo: 127
• Duração média do relacionamento do cliente: 8,3 anos
• Pontuação de satisfação do cliente: 4,7/5

Otimize modelos de avaliação de risco para atrair mais clientes de alta qualidade

Modelo de avaliação de risco Precisão: 93,2%

Categoria de risco	Precisão da avaliação	Nova aquisição de clientes
Segmentos de baixo risco	96.5%	138 novos clientes
Segmentos de médio risco	91.8%	87 novos clientes
Segmentos de alto risco	85.6%	29 novos clientes

Renaissancere Holdings Ltd. (RNR) - ANSOFF MATRIX: Desenvolvimento de mercado

Expansão para mercados emergentes na América Latina e na Ásia-Pacífico

Renaissancere registrou prêmios brutos de US $ 1,6 bilhão escritos em mercados internacionais em 2022. Detalhes específicos de penetração no mercado:

Região	Ano de entrada no mercado	Crescimento projetado
América latina	2021	12,4% de crescimento anual
Ásia-Pacífico	2019	15,7% de crescimento anual

Direcionar novos segmentos de clientes em companhias de seguros de médio porte

A estratégia do segmento de mercado intermediário da Renaissancere se concentra em empresas com US $ 50 milhões a US $ 500 milhões em receitas anuais.

• Tamanho do mercado-alvo: 3.200 companhias de seguros de médio porte
• Penetração potencial de mercado: 18,5%
• Valor médio do contrato: US $ 2,3 milhões

Desenvolva produtos de resseguros especializados para riscos relacionados ao clima

Investimento de portfólio de produtos de risco climático: US $ 42 milhões em P&D para 2023.

Categoria de risco	Tipo de produto	Limite de cobertura
Furacão	Seguro paramétrico	US $ 250 milhões
Incêndio	Resseguro de catástrofe	US $ 180 milhões

Estabelecer parcerias estratégicas com provedores de seguros regionais

Rede de parceria atual: 27 provedores de seguros regionais em 6 países.

• Investimento de parceria: US $ 18,5 milhões
• Receita de parceria esperada: US $ 76 milhões até 2024
• Duração média da parceria: 4,2 anos

Aproveite a tecnologia para pontos de entrada de mercado

Investimento em tecnologia para expansão do mercado: US $ 35 milhões em infraestrutura digital.

Tecnologia	Investimento	Ganho de eficiência esperado
Avaliação de risco de IA	US $ 12 milhões	22% de subscrição mais rápida
Plataforma em nuvem	US $ 15 milhões	35% de eficiência operacional

Renaissancere Holdings Ltd. (RNR) - ANSOFF MATRIX: Desenvolvimento de produtos

Desenvolva soluções inovadoras de seguro paramétrico para riscos de desastres naturais

A Renaissancere investiu US $ 52,3 milhões em tecnologia de seguro paramétrico em 2022. As soluções paramétricas da empresa abordaram 247 cenários distintos de risco de desastres naturais em 38 regiões geográficas.

Categoria de produto paramétrico	Valor total de cobertura	Regiões geográficas
Soluções paramétricas de terremoto	US $ 1,2 bilhão	17 países
Cobertura de risco de furacão	US $ 890 milhões	12 países
Instrumentos paramétricos de risco de inundação	US $ 650 milhões	9 países

Crie produtos de seguro de adaptação para mudanças climáticas avançadas

A Renaissancere alocou US $ 43,7 milhões para pesquisas de seguro de adaptação ao clima em 2022. A Companhia desenvolveu 14 produtos de seguros de resiliência climática que visam riscos ambientais emergentes.

• Seguro de aumento do nível do mar
• Cobertura extrema de risco de temperatura
• Proteção de rendimento agrícola

Invista em modelagem de risco orientada pela IA e análise preditiva

Renaissancere gastou US $ 67,5 milhões em tecnologias de IA e aprendizado de máquina em 2022. A plataforma de análise preditiva da empresa processou 3.2 petabytes de dados de risco.

Investimento em tecnologia da IA	Investimento total	Capacidade de processamento de dados
Modelos de aprendizado de máquina	US $ 28,3 milhões	1.6 Petabytes
Análise de risco preditiva	US $ 39,2 milhões	1.6 Petabytes

Projetar mecanismos de transferência de risco personalizados para indústrias emergentes

A Renaissancere desenvolveu 22 produtos de transferência de risco especializados para setores de tecnologia emergentes, totalizando US $ 1,5 bilhão em cobertura.

• Soluções de risco energético renovável
• Seguro de troca de criptomoedas
• Cobertura de risco de veículo autônomo

Expanda as ofertas de seguro de risco cibernético e proteção

O portfólio de seguros de risco cibernético da Renaissancere cresceu para US $ 3,2 bilhões em 2022, com 156 produtos exclusivos de proteção de segurança cibernética.

Categoria de risco cibernético	Cobertura total	Número de produtos
Proteção cibernética corporativa	US $ 1,8 bilhão	87 produtos
Seguro cibernético de pequenas empresas	US $ 890 milhões	45 produtos
Cobertura cibernética de infraestrutura crítica	US $ 512 milhões	24 produtos

Renaissancere Holdings Ltd. (RNR) - ANSOFF MATRIX: Diversificação

Invista em startups InsurTech para explorar novas capacidades tecnológicas

Em 2021, a Renaisancere investiu US $ 100 milhões em empreendimentos de tecnologia de seguros digitais. A empresa fez uma parceria com 7 startups da InsurTech focadas nas plataformas de avaliação de risco orientadas por IA.

Ano de investimento	Investimento total	Número de startups
2021	US $ 100 milhões	7

Desenvolva mecanismos alternativos de transferência de risco além do resseguro tradicional

A Renaissancere desenvolveu 12 mecanismos alternativos de transferência de risco em 2022, gerando US $ 250 milhões em fluxos de receita alternativos.

• Emissão de títulos de catástrofe: US $ 175 milhões
• Produtos de seguro paramétrico: US $ 45 milhões
• Sidecars e estruturas ILS: US $ 30 milhões

Explore oportunidades em gerenciamento de riscos de energia renovável

A Renaissancere alocou US $ 75 milhões em portfólios de gerenciamento de riscos de energia renovável em 2022.

Setor renovável	Valor do investimento	Cobertura de risco
Solar	US $ 35 milhões	US $ 500 milhões
Vento	US $ 25 milhões	US $ 350 milhões

Crie veículos de investimento estratégico em setores de serviço financeiro adjacente

A Renaissancere estabeleceu 3 veículos estratégicos de investimento com US $ 200 milhões no compromisso de capital total em 2022.

• Veículo de investimento de fintech: US $ 80 milhões
• Fundo de Gerenciamento de Riscos Climáticos: US $ 70 milhões
• Plataforma de seguro de mercado emergente: US $ 50 milhões

Desenvolva plataformas de seguro e gerenciamento de riscos baseadas em blockchain

A Renaissancere investiu US $ 50 milhões em desenvolvimento de tecnologia de blockchain para plataformas de seguro em 2022.

Foco em tecnologia	Investimento	Ganho de eficiência esperado
Seguro de contrato inteligente	US $ 25 milhões	30% de redução de processamento de reivindicações
Rastreamento de risco de contabilidade distribuído	US $ 25 milhões	25% de redução de custo operacional

RenaissanceRe Holdings Ltd. (RNR) - Ansoff Matrix: Market Penetration

When you're looking at Market Penetration for RenaissanceRe Holdings Ltd. (RNR), you're focused on selling more of what you already offer to the customers you already have. The numbers from the third quarter of 2025 show you're definitely pushing hard in your core areas.

You saw 21.9% underlying growth in the catastrophe class gross premiums written (GPW) when comparing Q3 2025 to Q3 2024, not counting reinstatement premiums. That's a strong indicator of capturing more share in existing markets. To be fair, the total GPW was down 3.2% year-over-year to $2.32 billion for the quarter, but that was offset by a decrease in gross reinstatement premiums of $116.3 million in the catastrophe class compared to Q3 2024, which is a function of lower current losses and prior year development, not necessarily a lack of market appetite. The underlying growth in US catastrophe-exposed business is the key metric here.

Maintaining underwriting discipline is clearly a priority, and the results back that up. The group-wide combined ratio for Q3 2025 landed at an excellent 68.4%. This is a significant improvement from last year's 84.8%. Keeping that ratio low, near that 68.4% result, is how you ensure that market share gains are profitable gains.

Here's a quick look at some of the key Q3 2025 performance indicators that reflect this penetration strategy:

Metric	Q3 2025 Value	Comparison/Context
Group Combined Ratio	68.4%	Improved 16.4 points year-on-year
Property Segment Combined Ratio	15.5%	Reflecting low catastrophe losses
Catastrophe Class Underlying GPW Growth	21.9%	Year-over-year growth
Fee Income	$101.8 million	Up 24.1% from Q3 2024
Underwriting Income	$770.2 million	An increase of 96% on the prior year quarter

The scale gained from the Validus Re portfolio integration, which S&P noted as successfully integrated as of April 2025, is now being used to prioritize treaty renewals. That acquisition, which cost $3.3 billion in cash plus shares, added significant scale, contributing to over 32% GPW growth, or $2.9 billion, in 2024. You're using that larger platform to secure the most profitable treaties first.

To lock in that market position, you are pushing for longer-term commitments. The strategy involves offering multi-year, bespoke reinsurance contracts. This helps secure client commitment against competitors who might only offer standard annual terms. Also, deepening relationships with key brokers is essential; they control the flow of existing treaty placements, so strengthening those ties helps you capture a larger slice of that established business volume.

You're definitely executing on the core business. Finance: draft the Q4 2025 broker relationship impact report by next Wednesday.

RenaissanceRe Holdings Ltd. (RNR) - Ansoff Matrix: Market Development

You're looking at how RenaissanceRe Holdings Ltd. (RNR) is pushing its existing products into new territories, which is the essence of Market Development in the Ansoff Matrix. This isn't about inventing new coverage; it's about finding new buyers for what RNR already does best.

Expand the Medici UCITS catastrophe bond fund to new European institutional investor bases

The push into Europe via a regulated structure is a clear market development play. The RenaissanceRe Medici UCITS Fund launched in March 2025 with an initial capital base of $340 million. RenaissanceRe Holdings Ltd. itself co-invested $140 million of that initial amount. This structure was purpose-built to give European and other global investors access to the catastrophe bond strategy within a UCITS framework, domiciled in Ireland and regulated by the Central Bank of Ireland. The growth was immediate; by September 30th, 2025, the fund had grown its net assets to $398.3 million. This growth was supported by third-party investor capital increasing to approximately $247.3 million by that same date. For context on the broader platform, RenaissanceRe Capital Partners managed third-party investor capital across all its structures reached $8.54 billion by September 30th, 2025, up from $8.09 billion at June 30th, 2025. The Medici UCITS fund alone brought in $201.5 million of third-party capital in Q1 2025, which included $176.5 million transferred from the main Medici fund. The platform's total third-party capital under management stood at $7.81 billion as of January 1, 2025.

Target new geographic regions in EMEA and APAC for Casualty and Specialty reinsurance lines

The global reinsurance market itself is expanding, offering fertile ground for existing Casualty and Specialty lines. The global Reinsurance Market size is forecast to grow by USD 539.3 billion between 2025 and 2029, expanding at a Compound Annual Growth Rate (CAGR) of 12.2%. Specifically for Property and Casualty Reinsurance, the market size is expected to grow from $461.03 billion in 2024 to $509.34 billion in 2025, representing a CAGR of 10.5%. While RenaissanceRe Holdings Ltd.'s overall 2024 revenue growth of 35% was largely attributed to the Validus Re acquisition, this scale supports global expansion. The Casualty and Specialty segment posted an adjusted combined ratio of 108.8% in Q1 2025, which included a 9.2 percentage point impact from large loss events in that quarter. This segment's CoR in Q1 2025 was 111.1%, up from 99.6% a year prior.

Leverage the combined scale post-Validus Re to access new cedant markets globally

The integration of Validus Re provides the necessary scale to deepen relationships with global cedants. The acquisition closed on November 1, 2023, with RenaissanceRe Holdings Ltd. paying approximately $2.985 billion in total consideration, which included $2.735 billion in cash and $250 million in RenaissanceRe common shares. AIG received about $3.3 billion in cash consideration (including a pre-closing dividend) and roughly $275 million in RenaissanceRe common shares. This combined entity now has significant firepower; as of September 30th, 2025, RenaissanceRe Holdings Ltd.'s total shareholder's equity was $11.5 billion. When factoring in third-party capital deployed across its Capital Partners strategies, including Top Layer Re, the total capital supporting underwriting activities reached $14.23 billion at the end of Q3 2025. This scale is intended to increase the company's importance to customers. For instance, in Q4 2024, gross premiums written in the other property class saw an increase of $53.4 million, reflecting renewals from the acquired business.

Enter new regional US property markets, applying the successful risk selection model from Florida renewals

Applying proven risk selection models to new regional US property markets is a key focus. In Q2 2025, the catastrophe class gross premiums written increased by $98.1 million, which is a 7.8% rise, driven by strong mid-year renewals, including new underwriting opportunities in U.S. catastrophe-exposed business. The Property segment faced challenges, reporting a combined ratio of 148.7% in Q1 2025, which included a 113.5 percentage point impact from the California Wildfires. However, the segment showed strong reserve performance, with the other property class reflecting net favorable development of $119.7 million in Q1 2025. For context on the underlying asset class, the US commercial real estate market cap is approximately $120 Trillion.

Develop third-party capital vehicles (ILS) specifically for non-US, high-growth emerging markets

While specific non-US emerging market ILS vehicles weren't detailed, the growth in the overall third-party capital platform supports this strategy. RenaissanceRe's third-party investor capital under management reached a record high of $8.54 billion by September 30th, 2025. This was an increase of $450 million in the third quarter alone. The Fontana casualty and specialty joint-venture vehicle, which services casualty and specialty lines, had third-party assets of $550 million as of June 30th, 2025, growing by $100 million over the year prior. In Q3 2025, Fontana added another $20 million in third-party capital. The overall platform, which includes various ILS funds and JVs, saw its total partner capital (external and internal commitments) reach $10.23 billion at September 30th, 2025. S&P noted that growth opportunities are emerging in developing economies where reinsurance penetration remains low. Fee income from this third-party capital business reached $101.8 million in Q3 2025, a 24.1% rise year-on-year. The total capital deployed by Capital Partners strategies was more than $14 billion as of Q3 2025.

Metric	Value as of Q3 2025 (Sep 30)	Comparative Value/Date
Medici UCITS Fund Net Assets	$398.3 million	$340 million at launch (March 2025)
Total Third-Party Capital (All ILS/JVs)	$8.54 billion	$8.09 billion at June 30, 2025
Total Partner Capital Deployed (Incl. RNR Stakes & Top Layer Re)	$14.23 billion	$13.68 billion one year prior (approx.)
RenaissanceRe Shareholder's Equity	$11.5 billion	As of September 30, 2025
Catastrophe Class GWP Increase (Q2 2025 YoY)	$98.1 million (7.8% increase)	Q2 2025
Q3 2025 Fee Income from Third-Party Capital	$101.8 million	Up 24.1% from Q3 2024 ($82.1 million)

The growth in the catastrophe class premium was $98.1 million, or 7.8%, in Q2 2025. The Fontana casualty and specialty JV added $20 million in third-party capital in Q3 2025. The total capital deployed by Capital Partners strategies was more than $14 billion as of Q3 2025.

• Medici UCITS Fund launched with $340 million capital.
• RNR co-investment in Medici UCITS was $140 million at launch.
• Third-party capital raised in Q1 2025 was $461.8 million across all vehicles.
• Fontana third-party assets reached $550 million at June 30, 2025.
• The P&C Reinsurance market size is projected to reach $509.34 billion in 2025.

RenaissanceRe Holdings Ltd. (RNR) - Ansoff Matrix: Product Development

You're looking at how RenaissanceRe Holdings Ltd. (RNR) develops new offerings to grow its business, which is the Product Development quadrant of the Ansoff Matrix. This means taking existing client relationships and selling them something new, or creating entirely new products for the market.

Introduce new specialty insurance products like cyber or political risk to existing reinsurance clients.

RenaissanceRe Holdings Ltd. (RNR) explicitly targets several specialty lines for its product development efforts, offering these to existing clients on both excess of loss and proportional bases. These target business lines, as detailed in their 2025 structure, include:

• Cyber (Excess of loss and quota share)
• Terrorism
• Accident & Health
• Agriculture
• Aviation/Space
• Engineering/Construction (Excess of loss and quota share)
• Marine & Energy (Including renewables)
• Whole Account/London Market Composite (Excess of loss and quota share)

The broader cyber insurance market is projected to reach global premiums of $15.6 billion in 2025, indicating a significant new product opportunity for RenaissanceRe Holdings Ltd. (RNR) to penetrate with its existing client base.

Develop parametric insurance solutions for faster payout in catastrophe-exposed areas.

Parametric solutions are listed under RenaissanceRe Holdings Ltd. (RNR)'s Other Specialty business. This product development focuses on speed and certainty by tying payouts to measurable triggers rather than loss assessments. For instance, in a recent cloud downtime event linked to an AWS outage, estimated financial losses for US companies ranged between $500 million and $650 million, while industry-wide insured losses were estimated to be below $100 million; parametric products aim to capture this risk with rapid liquidity.

Create new ILS structures, like a dedicated Fontana-style fund, for non-catastrophe, short-tail risks.

RenaissanceRe Capital Partners is actively developing its Insurance-Linked Securities (ILS) offerings. The initial Fontana Holdings L.P. structure, launched in April 2022, secured $475 million in capital, with $150 million coming from RenaissanceRe Holdings Ltd. (RNR) itself. As of Sep 30th, 2025, RenaissanceRe Capital Partners managed $8.54 billion in third-party capital across various vehicles. The pursuit of a second iteration of the casualty ILS vehicle Fontana suggests a push into non-catastrophe, short-tail risks using this structure.

ILS Vehicle/Metric	Capital Amount / Date
Initial Fontana Capital Raised	$475 million
Initial Fontana RenRe Contribution	$150 million
Third-Party Capital Managed (Sep 30, 2025)	$8.54 billion
Total Partner Capital (Incl. RenRe Stake, Sep 30, 2025)	$10.23 billion

Enhance fee income by offering new capital management services to existing partners, boosting the $101.8 million Q3 fee result.

The focus on capital management services directly impacts fee income, a key profit driver. For the third quarter of 2025, RenaissanceRe Holdings Ltd. (RNR) reported fee income of $101.8 million, representing a 24.1% increase compared to Q3 2024. This growth suggests successful expansion or deeper engagement with existing partners through new or enhanced capital management offerings.

Launch new retrocessional products to efficiently manage the increased cat exposure from the acquired Validus book.

Following the acquisition of Validus Re, which concluded on November 1, 2023, managing the resulting cat exposure is critical. RenaissanceRe Holdings Ltd. (RNR) outlined property catastrophe deployment plans totaling $1.7 billion for 2025. The development of new retrocessional products helps manage this increased absolute risk for U.S. perils, which the company noted was up due to portfolio growth, by utilizing additional ceded protection, including aggregate cat bonds and second event covers.

The deployment target for 2025 was $1.7 billion.

RenaissanceRe Holdings Ltd. (RNR) - Ansoff Matrix: Diversification

You're looking at how RenaissanceRe Holdings Ltd. (RNR) can expand beyond its core property catastrophe business, which is the classic Diversification quadrant of the Ansoff Matrix. This means moving into new markets or new product lines entirely, which naturally carries a higher risk profile but also the potential for greater reward.

Acquire a small, tech-focused managing general agent (MGA) in a niche US commercial line.

Moving into niche US commercial lines via an MGA acquisition is a way to build out the Casualty and Specialty segment, which already showed strength, evidenced by the 21.9% underlying growth in the catastrophe class gross premiums written in Q3 2025 compared to Q3 2024, excluding reinstatement premiums. While specific MGA deals aren't public for this exact scenario, the company is clearly focused on expanding its platform; for example, the integration of Validus Re has already been a major strategic step to build a larger, more resilient platform for assuming reinsurance risk. The goal here is to use M&A to quickly gain distribution and underwriting expertise in areas where RNR might not have deep penetration yet.

Establish a new joint venture in a developing insurance market (e.g., Latin America) for primary specialty insurance.

Expanding into developing markets like Latin America for primary specialty insurance leverages RNR's existing expertise in managing joint venture vehicles. You see the success of this model in their current operations, where fee income reached $101.8 million in Q3 2025, up 24.1% from Q3 2024, driven partly by performance fees from vehicles like DaVinci and Upsilon. A new JV in a developing region would aim to capture new premium streams and diversify geographic concentration away from the primary US/Europe exposure, mirroring the success seen in their existing Capital Partners business, which has been a leader in third-party capital management since 1999.

Develop a new investment-only fund, separate from the core float, capitalizing on the $438.4 million Q3 net investment income strength.

The investment engine is clearly firing. For the third quarter of 2025, RenaissanceRe Holdings Ltd. reported net investment income of $438.4 million. This strength, contributing to a total investment result of $750.2 million in the quarter, provides ample capital to seed a new, separate investment-only fund. This fund would be designed to attract external capital seeking pure investment exposure, distinct from the core underwriting float which totaled $35.8 billion in invested assets as of September 30, 2025. The annualized net investment income return for Q3 2025 was 5.2%.

Here's a quick look at the financial backdrop supporting this capital deployment:

Metric (Q3 2025)	Amount / Value	Context
Net Investment Income	$438.4 million	Core income from invested assets for the quarter.
Total Investment Result	$750.2 million	Includes NII plus mark-to-market gains of $311.9 million.
Total Investments (As of 9/30/2025)	$35.8 billion	Total assets available for investment.
Fee Income	$101.8 million	Driven by performance fees from managed funds.
Tangible Book Value Growth YTD	21.8%	Growth in tangible book value per common share plus accumulated dividends.

Invest in InsurTech platforms to distribute new, lower-layer risk products in new geographies.

Using InsurTech investments is about distribution reach and product innovation. The company has a history of investing in ventures, such as Fontana, which completed a $100.0 million equity capital raise on January 1, 2025, with RenaissanceRe contributing $70.8 million. This shows a willingness to inject capital into platforms that can potentially distribute different risk layers or access new client segments. Lower-layer risk products require high-frequency, high-volume distribution, which is exactly what a well-chosen InsurTech partner can help deliver in geographies where RNR's traditional broker relationships are less dominant.

Create a dedicated unit for climate-change-related risk transfer products in emerging economies.

Climate risk is a core focus, as evidenced by their stated goal to promote sustainability through underwriting innovation. The company has already targeted carbon intensity reduction in its portfolios, achieving an estimated 72% reduction in the carbon intensity of its corporate credit and equity portfolios from December 31, 2020, to December 31, 2024. A dedicated unit would formalize the creation of products designed for emerging economies, which are often the most vulnerable to climate impacts but have the largest protection gaps. This aligns with their purpose to protect communities and enable prosperity. Furthermore, the company reports 43% women in the workforce as of February 7, 2025, suggesting a focus on diverse talent to tackle complex global issues like climate risk.

The underwriting performance provides the foundation for these ambitious moves:

• Adjusted combined ratio of 66.6% in Q3 2025.
• Net income available to common shareholders of $907.7 million in Q3 2025.
• Operating income available to common shareholders of $733.7 million in Q3 2025.
• Estimated 23% reduction in corporate carbon footprint from 2019 to 2024.

Finance: draft 13-week cash view by Friday.