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).
Fidelis Insurance has raised the target size for its new catastrophe bond to provide $90 million of worldwide aggregate retrocession through the Herbie Re Ltd. (Series 2025-1) issuance, while the price guidance for the notes has been updated at the low-end of guidance, Artemis has learned.
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Large European reinsurer Hannover Re has secured the 50% upsized target for $150 million in retrocession covering US and North American peak perils from its new 3264 Re Ltd. (Series 2025-2) catastrophe bond, with the notes priced at the bottom of reduced guidance.
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Large European reinsurer Hannover Re has now upsized its target for its latest catastrophe bond, increasing it to now seek $150 million in retrocession covering US and North American peak perils from the 3264 Re Ltd. (Series 2025-2) issuance, Artemis has learned.
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Nectaris Re Ltd., the Class 3A Bermuda-based rated reinsurance platform backed by specialist insurance linked securities (ILS) and reinsurance related investments manager Leadenhall Capital Partners LLP, has reported solid underwriting results again for 2024, according the latest rating affirmation from AM Best.
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You can now register to attend our next catastrophe bond and insurance-linked securities (ILS) market conference, Artemis London 2025. We return to London on September 2nd, for another full-day of in-depth discussion and debate about the ILS market, as well as valuable networking. Register to attend here.
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Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, is set to liquidate the Post-Event Reinsurance Fund that it originally launched back in 2015, Artemis has learned from company filings.
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Conduit Re’s retrocession strategy has evolved to complement its peak peril protections, CEO Neil Eckert explained during the company’s Q1 2025 analyst call today, highlighting recent purchases of catastrophe hedging for US and global secondary perils, as well as increased aggregate cover.
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Hannover Re is now targeting reduced pricing for its latest catastrophe bond, with the target remaining to secure $100 million in retrocession covering US and North American peak perils from the 3264 Re Ltd. (Series 2025-2) transaction but its price guidance now lowered, Artemis has learned.
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Following the successful completion of its second catastrophe bond, the $50 million Black Kite Re Limited (Series 2025-1), Franz-Josef Hahn, CEO of reinsurer Peak Re, told us the issuance showcases the “tremendous potential” that insurance-linked-securities (ILS) solutions can play in narrowing protection gaps across Asia.
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Having been hit hard by the wildfires in California this year and then explained that it would acquire more retrocession to protect its earnings from volatility due to secondary peril loss impacts, Conduit Re has stayed true to its word, purchasing catastrophe hedging for US and global secondary perils, as well as more aggregate retrocession.
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