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).
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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Reinsurance companies in the Asia Pacific region can leverage insurance-linked securities (ILS) and alternative capital to capture hardening market opportunities and become more competitive with their global peers, rating agency AM Best has advised.
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Insurance-linked securities (ILS) fund managers have been working to free trapped capital related to possible COVID pandemic related losses in European reinsurance contracts, with commutations being pursued, AM Best has reported.
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There is now less than a fortnight until our first insurance-linked securities (ILS) market conference held in the UK. Over 200 people are now registered for the event but some tickets are still available for Artemis London 2022, which is taking place on September 6th 2022.
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The trend of increased new issuance volume in catastrophe bonds is expected to continue, with positive growth of the cat bond market expected as a result, according to Swiss Re Capital Markets.
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The era of catastrophe-focused traditional reinsurers appears to be over, rating agency AM Best announced today, as the pulling-back continues in some quarters, while the addition of more diversifying lines of business accelerates among once cat-specialist US and Bermuda based reinsurance firms.
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Rating agency Moody’s Investors Service is the latest to forecast a continuation of reinsurance pricing trends, with more rate momentum predicted and additional hardening at the January 2023 renewals.
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The CATCo retrocessional reinsurance investment portfolio appears to have had yet another major boost to its value on the back of additional favourable development related to the 2018 catastrophe loss year.
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