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Large European insurer Zurich has disclosed its catastrophe reinsurance towers after the mid-year renewals, which for the first time breaks out its US peak perils protection, and reveals slight adjustments to its US all perils and Europe all perils arrangements.
As we reported previously, Zurich recently secured a $1 billion quota share reinsurance agreement to support its business in underwriting data centre risks, and also added quota shares for energy onshore risks and corporate liability.
These new arrangements were announced alongside its first half 2026 results, which also include an overview of the firm’s catastrophe reinsurance agreements following the completion of the mid-year renewals, revealing some changes from what was secured at the January renewals.
As noted, Zurich has decided to show its US peak perils reinsurance as a distinct tower, driven by the issuance of its $150 million Turicum Re Ltd. (Series 2026-1) catastrophe bond transaction. This multi-year source of US named storm and earthquake reinsurance coverage is shown above the $650 million retention, which is unchanged with the US all perils tower.
For the US all perils tower, the retention, regional cat treaties, global cat treaty, and the global top cat treaty are unchanged from the January disclosure, but the North American earthquake swap at the top has increased to $225 million from $215 million at January 1.
Next is the Europe all perils reinsurance tower, which now has a lower retention of $489 million compared with $505 million after January 1, while the regional cat treaties portion has decreased to $449 million from $463 million, resulting in a slight reduction in coverage.
The firm’s rest of world all perils reinsurance coverage is unchanged from the January 1 disclosure, as is the global aggregate cat treaty. You can see Zurich’s catastrophe reinsurance protections blow.
The post Zurich reveals cat reinsurance towers, separates US peak perils protection appeared first on ReinsuranceNe.ws.
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