RNR-PF

RenaissanceRe is one of the world's leading reinsurance companies, specializing in property catastrophe reinsurance — the business of insuring insurance companies against hurricanes, earthquakes, and other natural disasters. The company's sophisticated risk modeling and disciplined underwriting have produced industry-leading returns over decades.

RNR-PF offers income from a company that understands risk better than almost anyone. RenaissanceRe's proprietary catastrophe models are considered among the best in the industry, and the company has a track record of generating underwriting profits even in years with significant catastrophe losses.

The risk for reinsurance preferreds is tail risk — a truly catastrophic event (mega-hurricane, major earthquake) could strain the company's capital. However, RenaissanceRe's diversification across geographies and perils, combined with its retrocession program, mitigates this risk. The preferred yield compensates investors for the inherent volatility of the reinsurance business.