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).
Insurance-linked securities (ILS) investors remain very selective about opportunities to allocate capital still, with loss creep issues still fresh in the memory, as well continued fears of volatile loss experienced and trapped capital, AM Best has said.
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In recent months, if you’re interested in insurance-linked securities (ILS) or active in the ILS marketplace, you could not have missed the widely discussed issues of spread widening seen in catastrophe bonds, or the hardening of reinsurance pricing and how that spills over to ILS rates and returns.
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Tickets are still on-sale for Artemis London 2022, our first insurance-linked securities (ILS) market conference held in the UK, which is taking place on September 6th 2022, just before the industry heads to Monaco for the RVS.
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The CATCo retrocessional reinsurance investment portfolio continues to benefit from favourable development on reserves, with the manager expecting yet another release of side pocket investment capital later this year, which it expects to buy back more shares with.
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American International Group (AIG) is looking to take control of its reliance on and access to reinsurance capital for its high-net-worth property business, and plans to set up a new third-party capital backed structure to support a shift of cat-exposed property underwriting to the non-admitted market.
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There’s still time to secure a ticket for Artemis London 2022, our first insurance-linked securities (ILS) market conference held in the UK, which is taking place on September 6th 2022, just before the industry heads to Monaco for the RVS.
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Hannover Re benefited from an increased recovery under its long-standing capital markets backed mortality swap arrangement by the end of the first-half of 2022, with the financial benefit from the retro hedge reaching EUR 88 million by the end of the period.
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Global reinsurance firm Swiss Re has set up a new insurance-linked securities (ILS) venture, launching an SEC registered investment adviser today named Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), which will have a focus on catastrophe bond investment management.
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Global reinsurance company Hannover Re has continued its strong growth through the first-half of 2022, with the firms gross premiums written growing by almost 20% across the group and 26% in the P&C reinsurance business.
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Markel’s flagship insurance-linked securities (ILS) fund management operation Nephila Capital saw another significant rise in catastrophe reinsurance premiums underwritten during the second-quarter of 2022.
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