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RenaissanceRe Creates DaVinciTo Boost Property-Catastrophe Mkt.

London Editor

RenaissanceRe Holdings Ltd. plans to form a new global property-catastrophe reinsurer in Bermuda called DaVinci Reinsurance Ltd., which is expected to be initially capitalized at $500 million.

The company said this capitalization level could be expanded depending upon catastrophe reinsurance capacity demands.

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