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).
With the Florida reinsurance renewals fast approaching, it’s interesting to learn that indicative pricing for industry-loss warranty (ILW) protection covering hurricanes affecting the state is up significantly year-on-year, but actual market pricing may be flat or even down. Please read our update at the foot of this article.
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The upcoming June 1st reinsurance renewals in Florida are still expected to see broad rate increases of between 5% to 15%, according to our sources, but this is lower than where expectations had been sitting a few months ago.
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Leadenhall Capital Partners LLP, the London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager, is backing a new rated reinsurance underwriting platform in Bermuda, with a Class 3A reinsurer Nectaris Re Ltd.
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France-headquartered global reinsurance company SCOR has promoted experienced retrocession specialist Emmanuel Grandjean to the position of Head of P&C Risks.
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PartnerRe, the Bermuda headquartered, EXOR owned reinsurance company, is feeling the benefits from its increased haul of third-party reinsurance capital, according to CEO Jacques Bonneau.
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Vesttoo and Artemis have partnered to host a live webcast on May 25th 2021 where we will discuss and explain opportunities to hedge the next pandemic, using parametric risk transfer, facilitated through the use of data and technology, as well as capacity from the capital markets.
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Ariel Re, the international reinsurance company that was taken private in a transaction last year, has hired Tim Shreeve from insurance-linked securities (ILS) specialist Nephila Capital in Bermuda.
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Vantage Risk sees its successful first visit to the catastrophe bond market for its $225 million Vista Re Ltd. (Series 2021-1) cat bond issuance as a step on the road to building what it terms a Partnership Capital model and developing investor relations.
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TransRe, the reinsurance underwriting brand of the Alleghany Corporation, saw its property reinsurance business fall to an underwriting loss in the first-quarter of the year, as elevated catastrophe claims dented performance.
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Catastrophe risk modelling specialist RMS has announced the launch of what it calls “significant updates” to its North Atlantic Hurricane (NAHU) Models, incorporating data from recent active years, including from 2017’s Harvey and Irma.
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