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If the fundraise closes, the business will operate as a “permanent capital” monoline retrocessionaire. -
Pessimism around trapped capital is growing, but low reported losses may mitigate the issue.
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Scor sought higher-priced agg cover, but Munich Re achieved below-average uplift on its occurrence treaty.
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Retro deals make up a third of this year's volumes, versus a quarter in 2019.
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Investors from the ILS boom era are also those who've had the least luck, so fundraising remains a slog.
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Covid-19 may have been the biggest talking point in the (re)insurance markets this year but arguably, the pandemic is being overtaken by several other factors – ILS market dynamics amongst them.
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RenRe thinks the major cat losses of Q3 will cause the property cat market to harden throughout 2021.
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The carrier says higher retro renewal costs will act as a counterweight to rising rates.
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Hannover Re's K sidecar includes exposure to the aviation market, but overall ILS participation in such risks is limited.
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The move marks the company’s fifth round of share redemptions since going into run-off.
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If reinsurers prevail in limiting insurers from aggregating BI claims, this will shield retro markets.
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Total insured losses are well up on 2019, but the severity of individual blazes is not likely to impact reinsurers extensively.
