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).
The catastrophe bond market needs to price appropriately for so-called secondary perils and stop giving them a “free-ride”, as there is a need to continue offering this type of typically frequency or aggregate style reinsurance protection, but investors must be adequately compensated for it, Tenax Capital has said.
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PCS, a unit of Verisk, has announced an expansion of its insurance industry loss index for terrorism risks, with SRCC (Strikes, Riots, Civil Commotions, and Civil Unrest) now being added to the PCS Global Terror Index.
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Hamilton, the Bermuda based insurance and reinsurance holding company, has now successfully priced its new catastrophe bond issuance to provide the upsized target of $200 million in collateralized multi-peril retrocessional reinsurance, while the Easton Re Ltd. (Series 2024-1) cat bond notes were finalised to pay a below-guidance spread.
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Hiscox Group is sponsoring its first catastrophe bond in more than two decades, seeking $100 million or more in peak peril aggregate retrocessional reinsurance from the capital markets through an Ocelot Re Ltd. (Series 2023-1) issuance.
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Hamilton, the Bermuda based insurance and reinsurance holding company, has lifted its target for its second ever catastrophe bond issuance, now seeking $200 million in collateralized multi-peril retrocessional reinsurance from the Easton Re Ltd. (Series 2024-1) transaction.
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Global reinsurance giant Swiss Re is bringing the first industry-loss triggered cyber catastrophe bond to market, seeking $50 million of retrocession against systemic cyber loss events through a Matterhorn Re Ltd. (Series 2023-1) transaction.
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Global reinsurer Hannover Re is clearly expecting the benefits of the hard market environment to earn through in 2024, as it targets a 24% increase in net income next year, while key among strategic drivers for its new corporate plan for years 2024 through 2026 are the use of retrocession and ILS to expand its […]
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Last year, Bermuda-based insurance and reinsurance company use of insurance-linked securities (ILS) such as catastrophe bonds increased, according to survey data collected by the Bermuda Monetary Authority (BMA).
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Specialty insurance and reinsurance underwriter the Canopius Group has hired well-known insurance-linked securities (ILS) focused executive Brent Slade in Bermuda, who will become the firm’s new Head of ILS and have a remit to expand ILS activities for the Group, Artemis has learned.
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This video features an insightful panel discussion on ILS investment sentiment from our Artemis London 2023 catastrophe bond and insurance-linked securities (ILS) conference, that was held in London on September 5th 2023.
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