Hannover Re grows retrocession protections by 56% at January renewals
During a January 1st renewal season the reinsurer describes as a very challenging market environment for all participants, Hannover Re secured an increase in natural catastrophe retrocession, including the expansion of its capital markets backed K-Cessions quota share sidecar facility of almost 85% to $831 million, the biggest it’s ever been. An announcement from the […]
Cat bond market finds equilibrium as spreads stabilise higher: Plenum
Spreads in the catastrophe bond market, in terms of both new primary cat bond issuance and secondary marks, appear to have stabilised, signalling the market finding a new equilibrium at higher premiums, Plenum Investments has said. Zurich-headquartered catastrophe bond investment manager Plenum believes that spreads have now stabilised at their new higher levels. Recently issued […]
Impact of Turkey quakes adds to challenging environment for re/insurers: AM Best
A new report from AM Best has highlighted how the impact of the two earthquakes in south-eastern Turkey, adds to what is already a “challenging operating environment” for re/insurers within the country. On February 6, 2023, two powerful earthquakes of more than 7.5 magnitude struck near the south-eastern Turkish cities of Gaziantep and Kahramanmaras, the […]
