Retrocession

The reinsurer is planning to drop its cession rate from 40% to 30%-35%.

After HannoverRe announced a 2025 CEO transition, here is our last review on the company's successes and challenges ahead

The depth of the retro market recovery will be an influential factor in the pace of the cat market slowdown from here.

Tokio Marine has told cedants that it will discontinue its aviation retro book as the effects of the mammoth Boeing loss continue to ripple through the market, this publication can reveal.

Sang Hun Park previously spent nine years at Allianz before joining Munich Re as a senior origination manager in August 2021.

The carrier has increased its retro capacity by 56% to EUR1.34bn.

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.

The intermediary recorded “one of the hardest reinsurance markets in living memory” as primary rate increases slowed.

The deal protects the carrier’s capital in the event of large nat-cat or mortality losses.

The exit highlights increasingly difficult conditions in the retro and reinsurance markets.

The carrier has become the latest in a string of reinsurers unwilling to write retro at 1 January.

The RenRe vehicle, formerly a major retro writer, has been a reduced force this year.