Archives: Retrocession

Subscribe to Retrocession RSS Feed

LPTs and Existing Reinsurance Relationships

Insurers have been using loss portfolio transfers (“LPTs”) for decades for a host of reasons.  An LPT is a great way to move a legacy book of business off the balance sheet.  What is often forgotten is the interplay between the LPT and existing reinsurance contracts.  This is especially so when the LPT is more … Continue Reading

Looking for Actual and Substantial Prejudice When Notice of Claim Is Late

Late notice of claim in both direct insurance and reinsurance are important issues. There are both contract and public policy issues that arise when considering if late notice will allow an insurer or reinsurer to avoid its obligations. We have authored a number blog posts here and IRMI.com commentaries on late notice issues in insurance … Continue Reading

When US Taxation and Reinsurance Collide

The United States Court of Appeals for the D.C. Circuit recently affirmed a district court decision holding that the excise tax imposed under 26 USC § 4371 does not apply to wholly foreign retrocession contracts. The term “retrocession” refers to transactions in which one reinsurer buys or sells reinsurance to another reinsurer, and is sometimes referred … Continue Reading
LexBlog