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The Italian group previously halted writing catastrophe excess-of-loss business. -
The carrier has increased its retro capacity by 56% to EUR1.34bn.
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The carrier has exceeded its H1 natural hazard allowance of A$580mn.
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Slowing primary pricing, the looming threat of inflation and increased cat retentions were key themes from this reporting round.
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Andrew Lewis has outlined growth plans for Xitus, a niche global legacy firm he has co-founded that will focus on non-life and reinsurance deals of $5mn-$50mn.
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Annual reviews of natural disaster activity highlighted drought – which can also heighten risk of fire and flood losses – as an increasingly important secondary peril.
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Exclusions and coverage changes absolutely make sense as a goal, but some wordings have thrown up additional risks.
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More retrocession capacity is likely to be deployed during 2023 as pricing holds up across the primary, reinsurance and retro markets, according to Conduit Re.
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The R&Q founder had been linked to 777 since its attempted acquisition of the listed firm.
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The 17% uplift in its retention comes as reinsurers push for higher attachments.
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The non-profit initiative will broaden to include cyber and casualty after successful tests on property reinsurance placements.
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The deal represents the first Part VII transfer completed by Marco since launching in 2020.
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