Algo Risk service signs new client

RenaissanceRe Holdings, a Bermuda-based provider of insurance to cover the risk of natural and man-made catastrophes, has commissioned Canadian risk management vendor Algorithmics to deliver a system to manage the risk of its investment portfolio. The firm will implement the Algo Risk Service, a web-based portfolio construction and risk management service that has shown particular traction with buy-side firms since its official launch early last year.