Menu

Reinsurance News

Tremor exceeds $1bn in limit placed, eyes significant growth for 2021

21st December 2020 - Author: Charlie Wood

Programmatic re/insurance risk transfer marketplace Tremor has now exceeded $1 billion in limit placed and is expecting significant growth for 2021.

Tremor Technologies logoTremor says its reinsurance risk transfer technology has now been field-tested in both soft and hard markets and is able to bring efficiency, transparency and speed to the placement process.

The company launched two new marketplaces in 2020, supporting Live CAT trading and ILW auctions.

The online ILW auctions began on April 2 as part of an effort to help ensure the market continued operating during the pandemic.

Within a month over 10 markets had participated and more than 50 bids had been received, with reinsurance brokers playing an important role coordinating supply and demand.

Tremor currently offers live cat auctions which anyone can enter as a buyer or seller. They are then able to choose from an industry loss trigger for the impending named storm and enter their bids anonymously.

The marketplace offers several auctions per day during catastrophic weather events and runs and closes auctions in a matter of minutes, reporting the clearing price and the syndication immediately.

Tremor ended the year by completing a property catastrophe tower placement for W. R. Berkley Corporation.

By using Tremor’s platform, Berkley was able to optimise pricing and learn how much capacity was available at thousands of price points for their program.

“Tremor performs in every market cycle delivering robust reinsurance placements with competitive clearing prices in either soft or hard markets,” said Tremor Chief Executive Officer Sean Bourgeois.

“By incorporating market feedback, Tremor’s flexible technology has evolved the offering since the company’s inception, which now allows for complex subjectivities and provides instant aggregate visibility to help cedants confidently answer one question: ‘How do I know what I paid was the right price?”

“Like efficient markets elsewhere, the answer is transparent: “Because that is where supply met demand.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Lloyd’s ups electronic placement targets to 90% in 2021

The Lloyd’s of London insurance and reinsurance marketplace has announced an update to its Electronic Placement Mandate, increasing the target...

Close