Most of those guys go longer than us "normal" folks. Then again they do have targets that when met results in one action or another (sell, buy majority, merge, take private etc).
More info on RNR:
Founded in 1993, RenaissanceRe Holdings Ltd. (“RenaissanceRe”) provides reinsurance and insurance to cover the risk of natural and man-made catastrophes. We use sophisticated computer models to construct a superior portfolio of these coverages, and our technical expertise is our hallmark. Our disciplined underwriting approach, sophisticated risk models and management expertise have established us as a leader in the property catastrophe business and led to consistent strong performance and growth for our Company. Recently, we have increased our premiums from certain specialty lines of reinsurance, and individual risk business.
Our principal business is property catastrophe reinsurance. Our subsidiary, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), a Bermuda domiciled company, is one of the world’s premier providers of this coverage. We offer reinsurance to insurance companies and other reinsurers primarily on an excess of loss basis. This means that we begin paying when our customers’ claims from a catastrophe exceed a certain retained amount. Our coverage protects against large natural catastrophes, such as earthquakes and hurricanes, as well as claims arising from other natural and man-made catastrophes such as winter storms, freezes, floods, fires, tornadoes and explosions. We use our advanced proprietary modeling and management systems to maximize return on equity subject to prudent risk constraints.
We also write property catastrophe reinsurance on behalf of joint ventures. Founded in 1999, Top Layer Reinsurance Ltd. (“Top Layer Re”) provides high layer coverage for non-U.S. risks. DaVinci Reinsurance Ltd. (“DaVinci”), founded in 2001, writes property catastrophe reinsurance side-by-side with Renaissance Reinsurance. We act as the exclusive underwriting manager for these joint ventures in return for management fees and a profit participation.
Recently, we have increased our premiums from specialty lines of reinsurance, including such lines as catastrophe-exposed workers compensation, surety, terrorism, property per risk, aviation and finite reinsurance. We have also increased our individual risk business. We define the individual risk segment to include underwriting that involves understanding the characteristics of the original underlying insurance policy. The individual risk segment currently provides insurance both on a direct and on a surplus lines basis and also provides reinsurance to other insureds on a quota share basis.
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More background on DaVinci and others at: insurance-portal.com
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