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).
Everest Group is now targeting as much as an upsized $675 million of multi-peril collateralized North America focused retrocession from its new Kilimanjaro III Re Ltd. (Series 2026-1) and Kilimanjaro III Re Ltd. (Series 2026-2) catastrophe bond transactions, Artemis can report.
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Swiss Re, the global reinsurer, is launching a new Alternative Capital Solutions unit to encompass its activities in insurance-linked securities and retrocessional hedging and execution, with long-standing senior employee Mirjam Wiget set to lead the team.
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Global reinsurance giant Swiss Re has returned to the catastrophe bond market for its third sponsorship of the year, with an initial target to secure $275 million of broad North American peak peril retrocessional protection through a Matterhorn Re Ltd. (Series 2026-3) offering, this publication has learned.
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Arch Capital Group has now successfully upsized its latest catastrophe bond sponsorship, securing $150 million of property catastrophe retrocession for peak North American perils from the Ramble Re Ltd. (Series 2026-1) issuance, while the spreads settled at the low-end of reduced guidance, Artemis can report.
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Nectaris Re Ltd., the rated reinsurance platform backed by ILS manager Leadenhall Capital Partners LLP, is targeted to receive its first catastrophe bond protection, through a currently $60 million Arthur Re Ltd. – Tranquil Re 2026-1 issuance, Artemis can report.
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Augment Risk, the risk capital and reinsurance solutions broking firm, has hired well-known insurance-linked securities market executive Brad Livingston, who joins the firm to strengthen its ILS team and in particular is expected to help grow the private ILS offering in property risk, given his collateralized reinsurance expertise.
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A second catastrophe bond is coming to market via Gallagher Re’s new Arthur Re Ltd. platform, with a $75 million target for industry-loss triggered multi-peril reinsurance to benefit the Fidelis Partnership linked Syndicate 3123 at Lloyd’s, through this Arthur Re Ltd. – Woody Re 2026-1 issuance, Artemis can report.
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Willis Re, the reinsurance advisory and broking joint venture between WTW and Bain Capital, has announced that it has appointed Jonathan Ogilvie as Global Head of Non-Marine Specialties, and Chris Dart as Head of Treaty Reinsurance, Bermuda, effective immediately.
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Willis Re, the reinsurance advisory and broking joint venture between WTW and Bain Capital, has appointed reinsurance and retrocession veteran John Fletcher from Guy Carpenter as Chief Executive Officer of its Bermuda platform, effective immediately.
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Gallagher Re’s new Arthur Re Ltd. platform adds another dimension to the reinsurance broker’s global retrocession offering, and according to Jason Bolding, Global CEO of Gallagher Securities, the platform allows the firm to bring clients more flexible capital solutions while streamlining the issuance process for index-based catastrophe bonds.
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