Retrocession

The sidecar will support five programs providing specialty frequency coverages.

Nick Fallon is the latest in a string of retro-broker moves in the market.

The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.

Syndicate 1440 was approved to assume business incepting January 2026.

The ratings agency warned negative PYD on US casualty will likely continue.

Covea had requested a stay in the proceedings.

This brings the carrier’s total limit on the program to $1.8bn.

The broker has nearly 20 years of experience in the reinsurance and retro markets.

The Bermuda-based team is led by John Fletcher. 

The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.

The role will focus on international treaty, specialty lines and strategic advisory.

The terrorism pool has shifted its programme from facultative to an XoL arrangement.

The executive has worked in a variety of senior underwriting roles at the reinsurer.

The firm has commenced writing collateralised retro and reinsurance but its rated launch is still pending.

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.

It is understood that Ascot will continue to write worldwide retro business.

Inflation, heightened cat activity and years of poor reinsurance returns are fuelling demands for wholesale change in the European market.

Fidelis and MS Reinsurance are among the ceding companies that have support from Ajit Jain’s unit.

Kevin O’Donnell also said 1.5-point rises in ceding commissions for long-tail line treaties were an “acceptable” increase in acquisition costs, given improved underlying profitability.

Plus the latest executives on the move and all the top news of the week.

Greater participation of cat bond investors in the retro market has some advantages alongside the risks.

The unwinding of the pandemic, inflation and specialty pricing are set to be some of the areas of focus for the market.

Retro renewals have made major progress in early January, but programme gaps remain at some levels, with reinsurers left carrying more risk net.

Negotiations were dragged out by decisions being referred for sign-off at senior levels.

CyberCube also forecast that fresh capital will start to flow into the cyber insurance market next year.