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).
Global reinsurance company SCOR is set to take a range of actions to lower its catastrophe volatility in the United States and will look to alternative retrocession products for 2022, as the company acknowledges capacity for certain retro solutions may be more limited, according to Jean-Paul Conoscente, CEO of SCOR Global P&C.
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While growing its business substantially again in the third-quarter, it seems that global insurance and reinsurance company Everest Re ceded more of its written premiums to reinsurance capacity, either to third-party capital investors in Mt. Logan Re, or its retrocessionaires, as the significant catastrophe losses drove it to an underwriting loss for the third-quarter of […]
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With rising catastrophe losses impacting insurance and reinsurance markets, S&P Global Ratings believes that use of insurance-linked securities (ILS) is going to increase.
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Property catastrophe reinsurance rates are expected to increase by double-digits in 2022, as reinsurers absorb and then react to the costs of more natural catastrophe loss events that are deemed linked to climate change, according to rating agency Fitch.
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Global reinsurance company SCOR has again demonstrated the value of its robust retrocession program, as these protection arrangements seemingly helped to offset some of the catastrophe claims burden experienced during the last quarter.
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The results of our latest global reinsurance market survey, in collaboration with Reinsurance News, suggest that the use of insurance-linked securities (ILS) capacity is likely to rise again at the January 1st, 2022 renewals.
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Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has added another innovative feature to its software, now launching Tremor Blackboard™ a real-time collaboration tool so remote and global teams can work together on their reinsurance placements.
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Markel CATCo Investment Management said this morning that it has received a “substantial level of investor support” for its proposed buyout transaction to speed the winding up of its retrocessional reinsurance investment funds and has updated the terms to be more favourable, in response to investor feedback it seems.
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Sources have told us that the recently issued $21.5 million Isosceles Insurance Ltd. (Series 2021-H) private catastrophe bond transaction provides reinsurance coverage for a motor insurance portfolio.
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On still improving prospects for the sector, hedge fund specialist manager K2 Advisors has updated its view to “strongly overweight” for catastrophe bond and private insurance-linked securities (ILS) investments, saying that pricing indications for the January renewals look strong as well.
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