All of our news and analysis on the retrocessional reinsurance marketplace.
Retrocession is effectively reinsurance for reinsurers, so a tertiary layer of risk transfer away from the original risk, if you consider primary, reinsurance and then retrocession.
As reinsurance is insurance for insurers, retrocessional, or retro, protection is reinsurance for reinsurers.
The retrocession reinsurance market has increasingly come to depend on the capital markets and insurance-linked securities (ILS).
As of mid-year 2022, global retrocession capacity has been estimated to be as high as $60bn, around $20bn of which is indemnity based and the rest in other formats.
The alternative capital markets and ILS funds, or investors, play a significant role in global retrocession, as too do instruments such as catastrophe bonds and industry-loss warranties (ILW).
Ariel Re has now successfully priced its latest catastrophe bond, securing the targeted $125 million of US multi-peril retrocession through its London Bridge 2 PCC Limited (Titania Re 2026-1) issuance that is the reinsurers’ first to utilise the Lloyd’s insurance-linked securities structure, Artemis can report.
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Artex Capital Solutions, the insurance-linked securities market service provider and insurance management specialist has partnered with legacy and run-off reinsurance specialist Enstar to introduce structured exit options embedded within Artex’s ILS vehicles.
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Convex Group, the expansive global specialty insurance and reinsurance underwriter, has returned to the catastrophe bond market and has an initial target to secure $200 million or more in retrocession from its third catastrophe bond sponsorship, a Hypatia Ltd. (Series 2026-1) issuance, Artemis can report.
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While Hannover Re has expanded its range of insurance-linked securities services and facilitation, responding to market demand, the company sees collateralised fronting as the centrepiece of this capital market focused aspect of its global reinsurance operations, executives Silke Sehm and Patrick Horstmann told us in an interview.
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Property Claim Services (PCS), the unit of Verisk that is a provider of industry loss estimates and loss data to the reinsurance and ILS industry, has provided us a detailed overview of the processes the organisation uses to designate and estimate insurance industry losses for perils such as U.S. tropical cyclones, severe thunderstorms, and winter […]
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Mapfre Re, the Spanish global reinsurance company, is back in the catastrophe bond market to sponsor its third deal, seeking $200 million or more in US named storm protection from a Recoletos Re DAC (Series 2026-1) issuance, Artemis can report.
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Howden Capital Markets & Advisory (HCMA), the capital markets and insurance-linked securities (ILS) specialist unit of broking group Howden, has launched a German entity in response to growing demand from European insurers and reinsurers for capital markets solutions and strategic transactions.
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Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, has reported assets under management across its mutual catastrophe bond, insurance-linked securities and reinsurance fund strategies nearing $6.5 billion, now at their highest levels since late 2018.
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Franklin Templeton Investment Solutions, the hedge fund-focused arm of the global asset manager, has maintained its overweight conviction on the catastrophe bond asset class, with the firm citing that while yields and spreads have compressed compared to last year, the market remains healthy, with no evidence of weakening fundamentals.
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Private insurance-linked securities strategies that invest in reinsurance and retrocession outperformed in February 2026 according to ILS Advisers, as its Index of strategies across the market returned 0.47% for the month.
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