Pool Re is set to launch a consultation on the inclusion of terrorism cover in property insurance policies to help close the protection gap for SMEs.
Retro
CatCo Reinsurance Opportunities Fund Limited will return approximately $21mn to investors later this month via the latest in a running series of compulsory share redemptions.
Hannover Re is to increase its large loss budget to €2.1bn for 2025 on the back of plans to grow its P&C reinsurance portfolio while also reducing the retro protection it receives through its K-Cession sidecar.
Hannover Re has confirmed it is looking to reduce its retro spend at 1 January 2025, in a move which could lead to around €150mn of additional earned premium.
ILS insurtech Ledger Investing has announced the funding and launch of a new casualty sidecar facility that will provide up to $100mn of capital to finance the casualty reinsurance business of a global reinsurer over three underwriting years on a quota share basis.
Howden Re’s Luke Foord-Kelcey and Toby Lampier explain how an innovative cyber retro placement demonstrates the steps that can be taken to better manage exposure.
Retro capacity is set to expand at 1.1 but any increases are unlikely to be sufficient to push retentions down, according to Lockton Re’s Bob Bisset.
The dynamic of abundant reinsurance capacity and less pressure on demand seen at mid-year is expected to continue heading into the 1 January renewals despite the impact of the CrowdStrike outage.
Perils’ Darryl Pidcock discusses the importance of industry loss triggers in supporting the sustainability of the rapidly evolving cyber market.
Howden Re has placed a cyber retro cover on behalf of Envelop SPA 1925 which enables the cyber reinsurance vehicle to protect both the excess of loss and quota share components of its portfolio in one placement,
The cyber reinsurance market would “look very different if there was a functional retro market”, according to Envelop Risk CEO Jonathan Spry.
Hannover Re has reduced the overall size of its nat cat retro program to €1.1bn for 2024 on the back of a reduction in its K-Cession sidecar facility and the removal of a $100mn cat swaps layer.
Pool Re has elected to automatically renew its aggregate excess of loss (XoL) retro program for a second consecutive year, enabling the UK terrorism mutual to benefit from terms agreed in 2022,
Munich Re increased its in-force protection for US wind exposure in a 2024 retro renewal that saw it take advantage of a more favourable marketplace.
Swiss Re has secured $50mn of catastrophic US cyber insurance event protection in what Gallagher Re described as the cyber market’s first retrocession industry loss warranty (ILW).
