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).
In the latest new product roll-out to its specialty insurance and reinsurance lines loss reporting services, Property Claim Services (PCS) will now provide data on worldwide aviation loss events.
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In the last quarter of record, revenues earned from its flagship insurance-linked securities (ILS) operation Nephila Capital rose for parent Markel Corporation, but assets under management at Nephila Capital declined heavily in Q3, dropping by $500 million to $9.3 billion by the end of September.
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A new report calls for an expanding use of risk sharing to help the world tackle the climate emergency and highlights the role of the capital markets, as well as instruments such as ILS and catastrophe bonds, in helping to protect lives and livelihoods against loss and damage during a resilient transition to net zero.
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On Monday November 1st 2021 at the United Nations (UN) Framework Convention on Climate Change Conference of the Parties (COP26) in Glasgow, United Kingdom, it became clear that this is a moment in time where the insurance, reinsurance and insurance-linked securities (ILS) industries have an opportunity to display climate leadership.
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Investors in the Markel CATCo Investment Management retrocessional reinsurance investment funds now stand to receive as much as 18.5% more in capital return, on the back of the updated and improved buyout terms.
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Catastrophe bond and related insurance-linked securities (ILS) new issuance has now reached $17 billion in 2021, setting a new annual record for the total tracked by our Artemis Deal Directory.
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The United Kingdom has become the first G20 country to make climate disclosure mandatory for its largest companies, with Task Force on Climate-Related Financial Disclosures (TCFD) aligned reporting set to be required of over 1,300 of the largest UK-registered companies and financial institutions by April 2022.
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Investors in Swiss Re’s collateralised reinsurance sidecars were likely relieved when they saw the reinsurers loss picks for hurricane Ida and other recent catastrophe events, according to CFO John Dacey.
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The United Kingdom’s Prudential Regulatory Authority (PRA), part of the Bank of England, has published its second climate change adaptation report and featuring heavily in it is the subject of whether new or additional capital requirement charges may be needed as a result of climate change.
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Global reinsurance company SCOR is set to take a range of actions to lower its catastrophe volatility in the United States and will look to alternative retrocession products for 2022, as the company acknowledges capacity for certain retro solutions may be more limited, according to Jean-Paul Conoscente, CEO of SCOR Global P&C.
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