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).
Executives from Enstar, one of the largest legacy and run-off reinsurance specialists in the world, told Artemis that they are seeing strong interest for its solutions from the insurance-linked securities (ILS) funds sector, as managers seek mechanisms to provide liquidity to their investors.
Read the full article
We understand that global reinsurance firm Swiss Re is now targeting reduced pricing for its still $75 million Matterhorn Re Ltd. (Series 2025-3) catastrophe bond transaction that is in the market, as it looks to price the North America earthquake retrocession notes this week.
Read the full article
Yesterday in Monte Carlo, Munich Re board member Stefan Golling told a media briefing that alternative reinsurance capital and the catastrophe bond market in particular, are not helping to narrow the insurance protection gap, while highlighting the reinsurers’ independence from third-party capital.
Read the full article
Reinsurance broker Guy Carpenter is anticipating rising demand for capacity across reinsurance and retrocession markets at the January renewals, but against a backdrop of softening where they will be looking for markets to offer more to clients, through improved pricing and terms.
Read the full article
Speaking at global reinsurer SCOR’s briefing at RVS 2025 in Monte Carlo, Jean-Paul Conoscente, Chief Executive Officer (CEO) of SCOR Global P&C, said that the firm will continue to sponsor catastrophe bond issuances regardless of the market cycle.
Read the full article
Speaking in Monte Carlo today at a S&P Global Ratings briefing during the annual reinsurance event, Maren Josefs, Credit Analyst at S&P Global, said it may be time to rethink the name alternative capital, as it was really always designed to complement the traditional reinsurance market and in recent years has become increasingly aligned and […]
Read the full article
RenaissanceRe, the Bermuda headquartered reinsurance company and third-party capital manager, has announced the expansion of Adria Da Breo Richards’ role to include management of its Property Cat Assumed Retro portfolio, alongside her current role overseeing property catastrophe reinsurance portfolios for global clients.
Read the full article
At our Artemis London 2025 conference yesterday speakers highlighted a catastrophe bond and insurance-linked securities (ILS) market full of opportunity, but one where the need for transparency, communication and a continued push towards modernisation are key.
Read the full article
There has been a notable increase in the target investment allocation range for reinsurer SCOR’s sidecar vehicle Concordia Re, in the insurance-linked securities (ILS) portfolio managed by PGGM, the Dutch pension fund investment manager, on behalf of its end-client Dutch pension PFZW.
Read the full article
Leading rating agencies adjusted their outlooks for the global reinsurance sector yesterday, becoming in general a little more negative for prospects in the space and warning of higher competition. But still, the range of outlooks spans from positive, through stable, to deteriorating, suggesting uneven outcomes and that returns will still be attractive where discipline holds.
Read the full article
