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).
Altor Re Ltd, a new London based brokerage that specialises in placing insurance-linked securities (ILS) and reinsurance business globally, has officially been launched by founder Raj Jadeja.
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Insurance-linked securities (ILS) fund managers delivered another positive month of returns to their investors in November 2024, with the average return of the Eurekahedge ILS Advisers Index reaching 1.03% on the back of positive returns for each of the 26 ILS fund strategies it tracks.
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Ark Insurance Holdings Limited, a property and casualty insurance and reinsurance subsidiary of the White Mountains Insurance Group, Ltd., has successfully sponsored a renewal of its collateralized reinsurance sidecar Outrigger Re Ltd. for the 2025 calendar year, but at a slightly smaller size than seen in 2024.
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Having recently secured $250 million of retrocessional reinsurance protection from its first catastrophe bond sponsorship since 2013, QBE executives have now said that the Bridge Street Re Ltd. (Series 2025-1) issuance is an “important enabler” and builds on the launch of its recent Bermudian balance-sheet entities.
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Global reinsurance firm Swiss Re is back in the catastrophe bond market seeking $150 million or more in North American earthquake and named storm retrocessional protection from capital market investors, through a Matterhorn Re Ltd. (Series 2025-1) transaction.
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Hannover Re has returned to the catastrophe bond market in search of $175 million or more in broad retrocession covering worldwide peak perils on an annual aggregate basis, from a 3264 Re Ltd. (Series 2025-1) transaction that is being offered to investors, Artemis can report.
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HP Reinsurance SPC Ltd. (HP Re), a Cayman Islands based reinsurer established by North Carolina investment adviser Hale Partnership Capital Management, has entered into a transaction with ILS manager Elementum Advisors that saw HP Re assuming a portfolio of business written between 2020 and 2022.
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Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, grew the catastrophe bond and insurance-linked securities (ILS) assets under management in its range of mutual reinsurance fund strategies to more than $5 billion in the last quarter of record.
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Competitive pricing for industry-loss warranty (ILW) protection has driven “considerable interest from a growing demographic of buyers” at the January 1st 2025 reinsurance renewals, according to broker Howden Re.
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Hong Kong’s Insurance Authority (IA) has welcomed the recent issuance of the latest and sixth catastrophe bond under its insurance-linked securities (ILS) regulatory regime, saying the US $35 million Silk Road Re Limited cat bond sponsored by Taiping Re reinforces its commitment to the sector.
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