Ariel Re writes a variety of Specialty lines across a range of classes on both a reinsurance and retrocession basis.
The Specialty team encompasses a wide range of lines of business. For deals that need a bespoke program, an Alternative Structures division specializes in Structured Deals, Composite Deals and Multi-Line Programs. The company’s Specialty and Structured lines of business include:
- Marine (Onshore and Offshore)
- Marine Cargo
- Marine Hull and Machinery
- Marine Liability
- Onshore/Downstream Energy
- Upstream/Offshore Energy
- Mortgage and Credit
- Accident and Health
Ariel Re generally offers up to $25 million in capacity across its Specialty Reinsurance classes, but it can deploy up to $100 million for some of its core clients.
Attachment points vary by cedant, line of business, and data quality.
Appetite & Availability
Ariel Re writes a variety of specialty lines across a range of classes on both a reinsurance and retrocession basis. Clients range from Lloyd’s syndicates, P&I Clubs and terrorism pools to insurance and reinsurance companies throughout the world.
The company assumes exposure on an excess of loss as well as on a proportional basis.
The Specialty Reinsurance book includes:
- Marine and Energy
Key exposures are energy production (including offshore oil platforms), marine collision, marine large risk and catastrophic marine pollution. The portfolio includes energy wind exposure in the Gulf of Mexico (GOM), primarily through specifically written GOM wind coverage. Onshore energy exposures are written on a limited basis. Ariel Re quotes and leads much of its Marine and Energy business.
The Specialty Property book complements the treaty reinsurance portfolio with exposure that is largely diversifying to Ariel Re’s overall property franchise. The focus is generally on territorially discrete portfolios, but with the ability to broaden as required. Exposure is mainly generated from regional retrocession protections, risk excess of loss covers, contracts containing alternative trigger mechanisms such as parametric or industry insured losses, and catastrophe excess of loss protections of Direct and Facultative portfolios. Clients and brokers turn to Ariel Re for its ability to structure, quote and lead innovative products in this space.
- Political Violence
Ariel Re underwrites both Conventional and NCBR Political Violence, spanning Terrorism, War on Land and SR&CC.
- Aviation and Aerospace
Ariel Re writes a niche portfolio of aviation and aerospace business. Exposure is generated on both an excess of loss and a quota share basis as well as through contracts containing alternative triggers such as industry losses. Given the material pricing volatility in this line of business, it has historically been an opportunistic portfolio in that it has been largely scaled in line with the increase and decrease in market pricing.
- Composite/Whole Account
While the majority of the portfolio is focused on protections covering individual lines of business, Ariel Re has offered composite protection for a select number of clients incorporating traditional marine and/or energy exposures with other classes. To date, these additional classes have included property reinsurance and retrocession, terrorism, aviation, and non-marine per risk and catastrophe reinsurance for key clients.