retrocession News

Pool Re Buys Non-Damage BI Retro Cover in Program Led by Liberty Specialty

Pool Re, Britain’s terrorism reinsurer, announced the placement of its new retrocession program covering non-damage business interruption (NDBI) losses. The program incepted on July 5. The Counter-Terrorism and Border Security Bill 2018, which was signed in February 2019, allows Pool …

Peak Re Launches Asian Reinsurance Sidecar Deal Using Bermuda Special Purpose Insurer

Peak Reinsurance Co., the Hong Kong-based reinsurer, announced it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd., to provide collateralized retrocession for part of Peak Re’s global property reinsurance risk portfolio. …

TigerRisk Adds Retro Specialist Hughes from Aon to London Retro Team

TigerRisk Partners LLC, the Stamford, Conn.-based insurance and reinsurance broker, announced it has appointed Jonathan Hughes as partner. Hughes will report to Alex Bridges, head of TigerRisk’s Retro Team, and will work in TigerRisk’s London office. Hughes joins TigerRisk from …

Guy Carpenter Launches Unit Offering Retrocession Services to Asia-Pacific Clients

Guy Carpenter & Co. has launched a new unit offering dedicated retrocession services to clients in the Asia Pacific region called GC Asia Pacific Retro. GC Asia Pacific Retro provides a wide range of retrocession property solutions, linking with Guy …

Excess Capacity Continues to Drive Rate Cuts at June Renewals: JLT Re Report

Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell by 5.1 percent this year. This …

Reinsurers May Reassess Cat Exposures When Normal Claims Levels Return: S&P

Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns to normal levels, according to …

Carpenter Promotes Stubbings as CEO of Bermuda Unit; Keegan Named Sr. VP

Guy Carpenter & Co. has promoted Peter Stubbings as CEO of the firm’s Bermuda operations, with immediate effect. In addition, Richard Keegan will join the Bermuda team as senior vice president in May. Previously chairman of the Bermuda office, in …

Catastrophe Exposure Grows with Selective Use of Alternative Capital: A.M. Best

Insurers in the London, Europe and Bermuda markets writing catastrophe-exposed business take a different approach to retention of risk at the 1-in-100-year return level in comparison to the 1-in-250-year level, according to report published by A.M. Best. At the lower …

Swiss Re Appoints Mumenthaler as Group CEO, Succeeding Liès Who Is Retiring

Swiss Re announced that Christian Mumenthaler, 46, currently CEO of Reinsurance, will become group chief executive officer on July 1, succeeding Michel M. Liès, who is retiring. Since October 2011, Mumenthaler has successfully led the Reinsurance business unit, “maintaining underwriting …

Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P

Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services, despite the many competitive pressures it …