RenRe’s Upsilon 1.1 raise fell to $89mn amid investor retro scepticism

RenaissanceRe has revealed it raised just $89mn for its retro-focused Upsilon ahead of 1 January, compared with $470.3mn the previous year, after CEO Kevin O’Donnell previously said the vehicle had been downsized due to losses and trapped capital, while its DaVinci Re vehicle was significantly upsized.