Retrocession news

The role of the capital markets in the world’s transition to a low carbon economy as we look to tackle the threats of the changing climate, is “absolutely fundamental,” according to Rowan Douglas, Head of the Climate and Resilience Hub at Willis Towers Watson (WTW), and Chairman of Willis Research Network.

Inver Re, the recently launched global reinsurance brand of the Ardonagh Group, has made a key hire with a focus on alternative sources of reinsurance capital and ILS markets, appointing former RFIB and Howden executive Nick Griffiths as a Director.

Catastrophe reinsurance underwriting business is still “value creating” for global reinsurer Swiss Re, but the company has been sending “strong signals” to the market through its pricing of late, according to CFO John Dacey.

Markel CATCo Investment Management acknowledged the delay to the buyout process for its retrocessional reinsurance investment funds this morning, but said that any challenges from investors would be vigorously defended against.

Activity surrounding the buyout terms proposed to investors in the Markel CATCo Investment Management retrocessional reinsurance investment funds looks set to drag on, after a court appearance in Bermuda ended with Markel agreeing to provide additional information to creditors, we understand.

Conditions in the catastrophe bond market look positive still in 2021, as year-end fast approaches, with both the pipeline for new cat bond issuance and the capital flows to cat bond fund managers healthy, signalling a favourable bond market environment, according to Aon.

Insurance-linked securities (ILS) related fee income and profit shares can become a “significant contributor” to the earnings of insurance and reinsurance firms that manage third-party capital, according to rating agency Moody’s.

After another year of significant catastrophe loss activity, relative performance is set to be the important measure amongst ILS managers, and for 2022, Securis Investment Partners sees an opportunity to target retrocession, which it believes is ripe for reimagining.

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, believes the reinsurance market will be unrecognisable a few years from now, as participants move towards trading more efficiently with the help of its software.

PartnerRe, the Bermuda headquartered reinsurance company that is currently EXOR owned, but subject of a sale to Covea Group, has managed to report a positive technical result across its non-life business despite significant losses from hurricane Ida and the European flooding.