International Group of P&I Clubs’ Post

Lemonade secures improved terms in 2024 reinsurance renewal. The programme will be led by the same tier-one carriers as the expiring treaty, which is in effect for a standard 12-month term and oversubscribed on all dimensions https://lnkd.in/e2et_-ev #captive #captiveinsurance

Pleased to have completed ARE 321 - Exploring Reinsurance Products and Transactions

Treaty & Facultative ( Types of Reinsurance Transactions ) Facultative: Separate agreement for each loss. Written for specified time period. Known as non obligatory reinsurance. Treaty: One agreement for entire class of loss exposures. Written for long term. Known as obligatory reinsurance. Reinsurer sometimes go for hybrid model, taking elements from both treaty and facultative reinsurance. These are rare to find and are flexible enough as per the reinsurance market and to meet the needs of both the parties.

The International Group (IG) Pooling and Group Excess of Loss Reinsurance contract (GXL) structure for the 2025/26 Policy Year has now been finalised. This press release: https://ow.ly/yPSe50Utmic details the background to the IG’s GXL renewal rates for 2025/26 policy year.

Interesting - Cyclone Reinsurance Pool considering introducing a 'mitigation discount...for eligible strata policies'. Better get in quick with comments though, consultation closes 26 July: https://buff.ly/4cEKQtn #stratasolve #strata #bodycorporate #ownerscorporation #stratainsurance #cyclones #nq

AM Best upgrades outlook for global reinsurance industry to ‘positive’. The agency cites the robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing. https://lnkd.in/egKhVBYp #captive #captiveinsurance

This year's P&I renewal was characterized by more financially robust Clubs, smoother negotiations with underwriters and reductions in IG reinsurance rates. To learn more about what happened at the 2024 P&I renewal, read our latest bulletin below. #ProtectionAndIndemnity #Aon #Marine

Oak Re receives permission to underwrite business at Lloyd’s. Global reinsurance company Oak Re has received permission for its Lloyd’s Syndicate 2843 to underwrite business beginning on 1 January 2025 https://lnkd.in/gtGwhiNx #captive #captiveinsurance

AM Best upgrades outlook for global reinsurance industry to ‘positive’. The agency cites the robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing. https://lnkd.in/e2YqJNzc #captive #captiveinsurance

This year's P&I renewal was characterized by more financially robust Clubs, smoother negotiations with underwriters and reductions in IG reinsurance rates. To learn more about what happened at the 2024 P&I renewal, read our latest bulletin below. #ProtectionAndIndemnity #Aon #Marine