Reinsurer says it expects generally stable prices and conditions, but Asia regions may see carriers opt for increased retention to manage potential reinsurance rate hikes.
US$13.75m Cumulus Re is modelled by Parametrix and uses a parametric trigger to protect Hannover Re against cloud outage loss accumulation in its cyber portfolio.
The Australian insurer renewed its 2.5% whole-of-account quota share arrangement with Hannover Re, marking the completion of all four of its reinsurance arrangements with global reinsurers.
