Alternative capital remains a critical source of retrocessional reinsurance capacity for some of the biggest reinsurers in the market, with it seen to increase in importance for some of the top-tier companies over the last year, S&P Global Ratings has said.
In one of the rating agencies typical reports timed just in front of the reinsurance Rendezvous meetings in Monte Carlo, S&P Global Ratings has again highlighted that for some reinsurance firms ILS and alternative capital are critically important.
S&P explains that major global reinsurers have continued to expand their natural catastrophe business through the harder market pricing.
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