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).
Blue Capital Reinsurance Holdings Ltd., a stock exchange listed, collateralized reinsurer owned by Sompo International Holdings Ltd., is to be run-off, the company has announced.
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Lancashire Holdings is “encouraged” by the evidence of improvements in discipline and pricing across the insurance and reinsurance market, according to its CEO Alex Maloney.
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After having reported further loss creep that dented the net asset value’s of its listed retrocessional reinsurance fund shares in May, the CATCo Reinsurance Opportunities Fund shows that premiums are still set to flow as its share classes returned up to 1.3% in June.
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Markel Corporation has reached the point where it can put the two lawsuits from the ex-CEO’s of its Markel CATCo Investment Management unit behind it, having agreed terms to settle or close the cases.
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Global reinsurance firm SCOR is set to receive an almost $26 million payout after its aggregated losses from the 2017 hurricanes Harvey, Irma and Maria triggered its $150 million Atlas IX Capital Limited (Series 2015-1) catastrophe bond.
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Insurance and reinsurance group Hiscox has issued a trading update to warn of a hit to first-half profit due to a $40 million strengthening of its typhoon Jebi, hurricane Michael and risk excess book reserves.
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Bermudian reinsurance firm RenaissanceRe has promoted Matthew Neuber to the position of Corporate Treasurer, taking on the role from Aditya Dutt who remains the lead on RenRe’s Ventures business (which includes much of the firms ILS activities), as well as corporate development and M&A.
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At the recent mid-year reinsurance renewals, insurance-linked securities (ILS) funds were seen to have become increasingly discerning, as they adopted a more differentiated approach to how they underwrote their portfolios.
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At the end of the first-quarter of 2019, the amount of insurance-linked securities (ILS) and collateralized reinsurance collateral still trapped by recent catastrophe loss activity amounted to roughly $15 billion, according to broker Aon.
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Adoption of insurance-linked securities (ILS) by both investors and cedants continues to be driven by their desire for diversification, on both sides of the ILS trade, a recent survey found.
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