Artemis has learned that Hannover Re’s key whole account catastrophe excess-of-loss retrocession renewal was completed with pricing flat on a risk-adjusted basis, as higher exposure levels for large retro towers were met with comparably higher rates, resulting in roughly flat outcomes at January 1st.
We’re told that Liberty Mutual was the lead market for the worldwide peak peril part of this key piece of German reinsurer Hannover Re’s retrocessional arrangements, which has been finalised at a similar size to the prior year.
The whole account coverage is just one of the main pieces of Hannover Re’s retro reinsurance, alongside its K-Cession capital markets quota share sidecar, any catastrophe swaps the reinsurer usually buys and typically an aggregate retro layer as well.
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