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).
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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Catastrophe bonds are expected to face increasing investor demand over the coming months, as during the Covid-19 pandemic these instruments have “showcased” their benefits to global investors once again, according to S&P Global Ratings.
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This week the newest addition to our Artemis Live series of video interviews with leaders of the insurance-linked securities (ILS) and reinsurance markets features Cory Anger, Managing Director of GC Securities, the specialist ILS and capital markets unit of reinsurance broker Guy Carpenter.
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Around six weeks into a joint collaboration to offer insurers and reinsurers a new collateralised whole-account reinsurance offering backed by insurance-linked securities (ILS), Hyperion X and Vario Partners LLP told us they are seeing significant interest.
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Insurance-linked securities (ILS) fund managers and reinsurance companies managing third-party capital are likely to see continuing volatility in terms of investor inflows and outflows, as the broader implications of the Covid-19 pandemic continue to emerge.
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