Retrocession
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Hannover Re takes a key role alongside leader Munich Re in the world’s largest terrorism retrocession placement.
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The scheme’s main retrocession programme, the world’s biggest terrorism reinsurance placement, will likely increase from last year’s £2.3bn.
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The company said it had “dusted off” its pillared Purple product. -
The executive told analysts that reinsurance rates are starting to climb in certain areas, offering opportunities.
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A striking feature of this year’s 1 January renewal has been the changing approach to aggregate retrocession covers.
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A round-up of reinsurance renewals news plus the best of the rest from the past seven days.
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Broker’s 1.1 report notes uptick in rates for property cat and non-marine retro.
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A shift towards rated paper and occurrence structures helped the market clear with some deals remaining outstanding.
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The broker highlights increasingly discerning reinsurers pushing for rate.
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The broader retro market is renewing up by 10-30 percent depending on loss experience and structure.
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A shift back to rated and occurrence structures is occurring as aggregate terms were heavily revised.
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The main disrupted segments are still aggregate retro and sidecar vehicles.
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