Retrocession news

Swiss Re is now targeting as much as $225 million in North American earthquake and named storm retrocessional reinsurance protection from capital market investors, through its new Matterhorn Re Ltd. (Series 2025-1) catastrophe bond, Artemis understand.

Demand for non-marine retrocession capacity, which is largely property and catastrophe focused, was relatively stable at the key 1/1 renewals, but Gallagher Re noted that supply of capital for these opportunities was up resulting in more favourable conditions for buyers.

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. 

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.

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.

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.

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.

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.

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.

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.