RenaissanceRe. Casualty Insurance

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1 Syndicate 1458 Casualty Insurance

2 Syndicate 1458 Casualty Insurance is a leading global provider of property catastrophe and specialty reinsurance, as well as other insurance coverages. Founded in Bermuda in 1993, the Company has gained recognition for excellence in the industry through disciplined underwriting, capital management expertise, sophisticated risk modelling and responsive client service. is traded on the New York Stock Exchange under the ticker symbol RNR. established Syndicate 1458 at Lloyd s in The Lloyd s franchise helps us meet our clients needs in the places they do business and deliver the bespoke service for which we re known.

3 CASUALTY INSURANCE Our casualty insurance book is a global book offering a tailored approach to coverage, risk management and claims service. Our flexible approach allows us to react nimbly to changing market conditions and opportunities. Moreover, our corporate structure allows us to be proactive and customer-driven across a range of commercial risks. We set ourselves high standards for the benefit of our insureds. Our expert claims professionals have a wealth of experience in dealing with complex casualty and professional liability claims, and we offer local service and quick decision making by working in partnership with our insureds. Size / Definition We evaluate each insured individually, underwriting medium and large companies We aim to build partnerships through long-term relationships Limits available We offer coverage up to USD / GBP / CAD 10m for each claim / aggregate Attachment We write primary and excess lines Territories Through Syndicate 1458, we have access to Lloyd s worldwide territorial licences Coverage We offer a bespoke service to fit our insureds needs Lead / Follow We are comfortable as a lead or follow market Our team fully supports the subscription market approach Binders We have experience managing binding authorities writing a broad variety of coverage lines

4 CASUALTY INSURANCE TARGET CLASSES With our casualty insurance book of business, we write on an open market and binder basis. Our target classes are: Lawyers We write a varied selection of small to multinational firms and many of the AM LAW 200 Healthcare We write a book of worldwide medical malpractice liability insurance We underwrite public and private hospitals, research units, industrial and occupational health clinics, allied health and long-term care facilities Accountants Our focus is on middle tier firms with small public audit practices Insurance Brokers We target small to medium-sized firms, but also welcome business from larger firms Architects, Engineers and Contractors We underwrite all sizes of firms, practice areas and service lines We write many of the ENR top 100 as well as smaller, regional boutiques Miscellaneous We underwrite a varied practice area and service line split : CASUALTY INSURANCE BY CLASS* Lawyers 22% Architects & Engineers 22% Medical / Healthcare 21% Miscellaneous PI 20% Accountants & Consultants 13% Brokers 1% Cyber 1% : CASUALTY INSURANCE BY TERRITORY* United States 76% Canada 18% Worldwide Ex North America 6% *Insured inforce premium 2014

5 RENAISSANCERE SYNDICATE 1458 BUSINESS BY LINE FOR 2014* Casualty 56% Property 36% Specialty 8% CASUALTY BY CLASS FOR 2014* Professional Indemnity Treaty 26% Professional Indemnity Insurance 19% Medical Malpractice Treaty 18% General Liability Reinsurance 16% Directors & Officers Reinsurance 11% Medical Malpractice Insurance 10% PROPERTY BY CLASS FOR 2014* Catastrophe XOL 40% Direct & Facultative 38% Quota Share 18% Risk XOL 4% SPECIALTY BY CLASS FOR 2014* Agriculture 86% Surety 14% *As per 2014 Syndicate Business Forecast RENAISSANCERE SYNDICATE 1458 STAMP CAPACITY (U.S. dollars in millions) 2014 $ $ $171

6 RENAISSANCERE HOLDINGS LTD. BUSINESS MIX Catastrophe Reinsurance We believe we are one of the world s leading providers of property catastrophe reinsurance based on total catastrophe gross premiums written. This is our traditional core business and it is principally written for Renaissance Reinsurance Ltd., Syndicate 1458, and joint ventures, principally, DaVinci Reinsurance Ltd., Top Layer Reinsurance Ltd. and Upsilon Reinsurance Fund Opportunities Ltd. We offer this coverage to insurance companies and other reinsurers primarily on an excess of loss basis. We also offer proportional coverage and other structures on a catastrophe-exposed basis. Specialty Reinsurance We offer global specialty products principally on an excess of loss basis through Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd., and Syndicate 1458 at Lloyd s and on a proportional basis through Renaissance Specialty Risks Ltd. In 2013 we launched Underwriting Managers U.S. LLC, a specialty reinsurance agency based in Connecticut, to provide treaty reinsurance solutions on both a quota share and excess of loss basis, and to write business on behalf of Specialty U.S., a Bermuda-domiciled reinsurer launched in June 2013 which operates subject to U.S. federal income tax, and Syndicate As a result of our financial strength, we have the ability to provide significant capacity for select risks and as well as participate in market placements. Our coverages include, but are not limited to, casualty clash, D&O/E&O, excess casualty, environmental, medical malpractice, political risk, surety, trade credit, agriculture, terrorism and aviation/space. Lloyd s Our Lloyd s segment includes insurance and reinsurance business written for our own account through Syndicate The Syndicate enhances our underwriting platform by providing access to Lloyd s extensive distribution network and worldwide licenses. Syndicate 1458 offers a range of property and casualty insurance and reinsurance products including, but not limited to, direct and facultative property, property catastrophe, agriculture, medical malpractice, general liability and professional indemnity. Ventures Our Ventures unit structures and manages joint ventures and other strategic relationships that leverage the Company s underwriting expertise and experience. The Ventures unit also executes customized reinsurance transactions to assume or cede risk, and manages certain investments directed at classes of risk other than catastrophe reinsurance. Our principal joint ventures include Top Layer Reinsurance Ltd., DaVinci Reinsurance Ltd. and Upsilon Reinsurance Fund Opportunities Ltd.

7 RENAISSANCERE HOLDINGS LTD. GROUP STRUCTURE CATASTROPHE & SPECIALTY REINSURANCE VENTURES LLOYD S Renaissance Reinsurance Ltd. Ventures Ltd. Syndicate 1458 DaVinci Reinsurance Ltd. Top Layer Reinsurance Ltd. Specialty Risks Ltd. Specialty U.S. Ltd. Renaissance Underwriting Managers, Ltd. Medici Fund, Ltd. Upsilon Reinsurance Fund Opportunities Ltd. Renaissance Reinsurance of Europe Bermuda Domiciled Ireland Domiciled United Kingdom Domiciled (A Lloyd s syndicate) RENAISSANCERE HOLDINGS LTD. FINANCIAL HIGHLIGHTS (U.S. dollars in millions) Gross premiums written $1,605.4 $1,551.6 $1,435.0 Net income (loss) $665.7 $566.0 $(92.2) Total assets $8,179.1 $7,928.6 $7,744.9 Total shareholders equity $3,904.4 $3,507.1 $3,608.5 RATINGS A.M. Best S&P Fitch Lloyd s Overall Rating A A+ A+ Renaissance Reinsurance Ltd. A+ AA- A+

8 THE LLOYD S MARKET* Lloyd s is the world s specialist insurance market. It was first mentioned in 1688 operating in Edward Lloyd s Coffee House in London and is now housed in the Lloyd s building on Lime Street. Lloyd s is licensed to do business in over 200 countries with a global network of brokers and coverholders, making it easy for anyone to access its unrivalled expertise. Lloyd s is a marketplace, a society of members, rather than an insurance company. Members were originally private individuals but are now mostly corporations and limited liability partnerships, who in turn provide the capital to support underwriting through managing agents, who employ and manage a syndicate s team of underwriters. Members Providing the capital Syndicates Writing the insurance Managing Agents Managing the syndicates Coverholders and Brokers Local access to Lloyd s The Corporation of Lloyd s (the Corporation) oversees and supports the market. The Corporation reviews and approves business plans, monitors compliance against Lloyd s minimum standards and evaluates the syndicates performance against their plans. Syndicates can only underwrite in accordance with their agreed business plans. The Corporation also manages the Central Fund and Lloyd s network of international licences. *Source: Lloyd s

9 LLOYD S MARKET STATISTICS 2013 Source: Lloyd s 2,146 total members 56 managing agents managing 91 syndicates Total market underwriting capacity of 24,998m ($38,977m) Gross written premium of 26,106m ($40,725m) Operating profit of 3,205m ($5,320m) Combined ratio of 86.8% Return on capital 16.2% LLOYD S TOTAL UNDERWRITING CAPACITY (GBP in millions) LLOYD S CLASS BREAKDOWN Reinsurance 37% Property 23% Casualty 19% Marine 8% Energy 6% Motor 5% Aviation 2%

10 THE LLOYD S CHAIN OF SECURITY Lloyd s has a structure in place to ensure it is able to pay all valid claims. This structure has developed over many years to ensure that a policy holder is never failed in their hour of need. There are three links to the chain of security*: Several Assets First Link Syndicate Level Assets 41,990m Second Link Members Funds at Lloyd s 15,088m Mutual Assets Third Link Central Fund 1,513m Corporation 150m Callable Layer 788m Subordinated Debt/ Securities 721m *Source: Lloyd s Syndicate Level Assets These are the premium funds of each syndicate from which it pays claims. These are held in trust separate from balance sheets. Members Fund at Lloyd s This is members capital that must be held in trust by Lloyd s, in proportion to Syndicate capacity, before underwriting can begin. Investment of this capital, however, is at the discretion of the member. Central Assets These are held by the Corporation of Lloyd s as a fund of last resort. The Central Fund is funded by members annual contributions and subordinated debt issued by Lloyd s, and can be supplemented by the members through a further callable layer.

11 KEY CONTACTS Syndicate 1458 Edward Cruttenden Casualty Underwriter Tel: +44 (0) Mobile: +44 (0) Thomas Cox Casualty Insurance Underwriter Tel: +44 (0) Mobile: +44 (0) Nick Conway Healthcare Insurance Underwriter Tel: +44 (0) Mobile: +44 (0) Henry Yorke Healthcare Insurance Underwriter Tel: +44 (0) Mobile: +44 (0) Syndicate Management Limited Ross Curtis Active Underwriter Tel: +44 (0) Mobile: +44 (0) Syndicate 1458 Claims Peter McLoughlin Head of Claims Tel: +44 (0) Mobile: +44 (0) Sam Drysdale Claims Adjuster Tel: +44 (0) Mobile: +44 (0) Graham Ilott Healthcare Insurance Underwriter Tel: +44 (0) Mobile: +44 (0) Syndicate 1458 at Lloyd s is managed by Syndicate Management Limited, company number , incorporated in England and Wales, whose registered office and principal place of business is 18th Floor, 125 Old Broad Street, London, EC2N 1AR. Syndicate Management Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. RENAISSANCERE SYNDICATE 1458 Syndicate 1458: 125 Old Broad Street London, EC2N 1AR U.K. Tel: +44 (0) Lloyd s Address: Box 282 Lloyd s of London One Lime Street London, EC3M 7HA U.K.

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