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).
Swiss Re Corporate Solutions (SRCS), the commercial risk taking entity of global reinsurance firm Swiss Re, has launched a parametric hail insurance product in the United States, citing the growing level of losses experienced from severe thunderstorm risks as driving the need for innovative protection.
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Bermuda headquartered, EXOR owned reinsurance company PartnerRe is targeting growth in catastrophe exposed underwriting opportunities and has created a new leadership role of CEO Global Cat, which it has given to current leadership executive Greg Haft.
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Some insurance-linked securities (ILS) funds continue to be impacted by the catastrophe activity of recent years, as the managers of the ILS funds factor rising ultimate loss figures reported by cedents into loss reserve adjustments for prior year events.
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Michael Millette, Founder & Managing Partner at Hudson Structured Capital Management, a specialist alternative asset manager with a focus on sourcing insurance and reinsurance linked returns for its investors, joined us for our latest video interview.
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Reinsurance sidecars as a source of protection are in high-demand right now, as ceding companies look to bring third-party capital support into their business models to help buffer against any potential downside caused by catastrophe losses through the year ahead.
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Market forces suggest that 2021 could see the hardest property and casualty (P&C) insurance and reinsurance market conditions for a long time, according to equity analysts at Wells Fargo Securities.
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We have another new addition to our Artemis Live series of video interviews with leaders of the insurance-linked securities (ILS) and reinsurance markets this week, featuring Sean Bourgeois, Founder & CEO of technology-based programmatic insurance and reinsurance risk transfer marketplace provider Tremor Technologies Inc.
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Some reinsurance firms and also a number of insurance-linked securities (ILS) funds have been holding back capacity in the hopes of finding a less competitive and even more profitable market opportunity after the main mid-year renewals are over, as cedents are expected to need additional top-up and hedging capacity.
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Reinsurance companies and brokers in Bermuda are calling for Florida renewal rate increases to be significant, averaging between 25% to 45% and also believe that they will be enduring, so perhaps set a new floor for catastrophe reinsurance pricing in the state.
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The Florida reinsurance renewals have been hit by a “perfect storm” of market conditions, according to TigerRisk Partners exec Brian O’Neill, who who says support from core reinsurance partners will be critical to help carriers weather the storm.
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