retrocessional

German reinsurer Hannover Re has today reported an inflation and risk-adjusted price increase on renewed business of 2.3% at the January 1st, 2024, renewals, as the firm took advantage of greater demand for protection, growing its portfolio 6.9% to more than EUR 10.2 billion.

Global reinsurer SCOR found the retrocession marketplace to be more accommodating at the January 2024 reinsurance renewals, enabling the firm to lower attachment points on a non-proportional programme and increase its proportional cession, according to Jean-Paul Conoscente, SCOR Global P&C CEO.

Marcel Grandi, Head of ILS Sourcing at insurance-linked securities (ILS) and reinsurance asset manager, Twelve Capital, expects price increases to be limited in 2024, but is positive for the future as reinsurers continue to cede a sizeable portion of their exposure to the retrocession market.

At the mid-year reinsurance renewals our market sources are suggesting that availability of retrocession is far better than was seen at 1/1, with rate increases also decelerating more than had perhaps been anticipated just weeks ago.

Reinsurance broker Gallagher Re has appointed industry-loss warranty (ILW) and retrocession broker Alex McManus to lead its index-based capabilities in Bermuda.

Phoenix CRetro, a niche Bermudian collateralized retrocessional reinsurance firm, has assisted Ukrainian insurance firm BROKBUSINESS in becoming the first CEE based re/insurer with a license to post reinsurance collateral abroad.

Lancashire Holdings, the global provider of specialty insurance and reinsurance products and third-party reinsurance capital management firm, has revealed further details about its Kinesis Capital Management initiative. Kinesis Capital Management was recently revealed as the brand name for Lancashire’s third-party capital efforts.

Richard Brindle, CEO of Lancashire Holdings, a global provider of specialty insurance and reinsurance products and third-party reinsurance capital firm, said that the firm is insulated from feeling too much of the impact of new third-party reinsurance capital due to its focus on specialty and non-elemental exposures.

The softening of reinsurance rates, primarily seen in U.S. property-catastrophe line reinsurance renewals to date, shows evidence of spilling over into other markets, according to the latest reinsurance renewals report from the reinsurance broking arm of global broker Willis.

A new firm called Phoenix CRetro has launched targeting the catastrophe retrocessional reinsurance market while offering a way for institutional investors and capital providers such as re/insurers in Central and Eastern Europe (CEE), the Commonwealth of Independent States (CIS) which consists of countries formerly part of the Soviet Union and the Middle East & North […]