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).
Leaders at Lockton Re, the reinsurance arm of the global broker, have said they are expecting additional third party capital players to enter the space next year, who may have been watching the market develop from the sidelines in recent years.
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As the insurance-linked securities (ILS) market shifts its thoughts towards the end of year reinsurance renewal negotiations, Tom Johansmeyer, Head of PCS at Verisk believes there could be more pressure on ILS capital to come, especially in retrocession and specialty areas of the market.
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We’ve developed an industry-loss warranty (ILW) pricing data set from information we’ve gathered over the years, as well as recent input from our market sources that helped validate this new Artemis data service.
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The retrocessional reinsurance market is expected to face still-limited capacity at the key January 2023 renewal season, according to Guy Carpenter’s CEO of Global Specialties, James Boyce.
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Guy Carpenter Chairman David Priebe has said that the current market environment in the reinsurance industry is “one of the most challenging and complex we’ve seen.”
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Yesterday, close to 250 attendees joined us for our first insurance-linked securities (ILS) market conference held in London, enjoying insightful talks from our speakers and networking opportunities with ILS players, reinsurance executives and investors.
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Alternative reinsurance capital, so the capacity deployed through insurance-linked securities (ILS) structures including catastrophe bonds, has remained relatively flat since 2021, but with traditional reinsurance capital having shrunk, the ILS market’s share has increased, according to Gallagher Re.
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Broking group Aon has hired catastrophe reinsurance specialist Nick Pritchard for a Managing Director role in Bermuda focused on property retrocession brokerage.
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There is growing optimism in the insurance-linked securities (ILS) market over the potential for subrogation claims against ERCOT related to February 2021 winter storm and Texas freeze losses to reduce exposure to the event, according to AM Best.
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In a new report, rating agency Fitch states that climate change is stimulating the development of the catastrophe bond market, as demand for protection rises and the capital markets offers an efficient source of reinsurance against climate-linked catastrophe events.
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