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).
Elementum Advisors, LLC, the insurance-linked securities (ILS) fund management and collateralized reinsurance underwriter, saw its adjusted EBITDA rise to $19 million for 2023, which was more than double the previous year, stakeholder White Mountains has said.
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Aeolus Capital Management Ltd., the reinsurance and insurance-linked securities (ILS) investment fund manager, has announced the hiring of William Thuell to its Bermuda underwriting team as an Assistant Vice President.
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Everest Re, the global reinsurance arm of Everest Group, has returned to the catastrophe bond market in search of $150 million or more in multi-peril per-occurrence retrocession, through a Kilimanjaro II Re Ltd. (Series 2024-1) issuance, Artemis has learned.
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The use of third-party capital by reinsurance companies is expected to remain a key lever for the sector, as they seek to expand and take advantage of increasing demand for their coverage, S&P Global Ratings has said.
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The effects of spread widening in the catastrophe bond market are now evident in the performance of the Eurekahedge ILS Advisers Index for April 2024, as private ILS funds outpaced cat bond strategies for the first time this year.
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Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) investment fund manager, has announced a new research partnership with natural disaster focused risk analytics firm RED – Risk Engineering + Development, in which implications of earthquake sequences will be explored.
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After a successful foray into the catastrophe bond market in 2023 with the $100 million Stabilitas Re Ltd. (Series 2023-1) transaction, Bermudian reinsurer Conduit Re continues to explore the space, according to CEO Trevor Carvey.
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The landscape of insurance-linked securities (ILS) fund products is relatively broad and diverse, even though the majority of ILS funds are crowded into similar sizes and target similar levels of risk, meaning that, for investors, there is value in considering multiple ILS allocations, according to SIGLO Capital Advisors AG.
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In commenting on the recent successful issuance of a $175 million Atlas Capital DAC (Series 2024-1) catastrophe bond, the second from that Irish special purpose vehicle, SCOR’s CFO and Deputy CEO François de Varenne has highlighted the “efficiency gains made.”
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RenaissanceRe, the Bermuda based reinsurance company and third-party capital manager, is back in the catastrophe bond market seeking $100 million or more in retrocessional protection from a Mona Lisa Re Ltd. (Series 2024-1) deal, for risks in its own portfolio and that of its flagship partner capital vehicle DaVinci Re.
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