Reinsurance and insurance provider RenaissanceRe has sold $75m (£52m) of its DaVinci Re shares.
The company said today that $50m (£34.7m) of the shares had been sold to Max Re Capital. The remainder went to another unnamed investor.
It added that it expected to sell $25m (£17m) more of its DaVinci Re shares in the next two weeks.
RenaissanceRe said other investors had invested $300m (£208m) in equity in DaVinci Re, since it launched on 15 November 2001.
DaVinci Re, a global property catastrophe reinsurer, is managed by Renaissance Underwriting Managers.
