Global RE

Global Re is Satec Underwriting division dedicated to non-proportional reinsurance treaties covering Property and Engineering on a worldwide basis with a specific focus on catastrophe risks. We currently underwrite on behalf of well rated companies; as multi-carriers agents, we always look for additional reinsurance capital providers.

Target Clients

Our target clients are (re)insurance companies that underwrite Property and Engineering risks, preferably located in a single state or in a well-defined region and that buy catastrophe protection on the reinsurance market. That is, reinsurance traties cover extreme events such as Earthquakes , Storms, Floods. We currently do not offer coverage to Italian (re)insurance ceding companies.

Underwriting Focus

Global Re participates to Excess of Loss reinsurance treaties typically with small shares and therefore acting as a following market; contracts are intermediated by international brokers. The portfolio underwritten consists of extreme risks characterized by low frequency and high severity, i.e. the selected layers of the reinsurance treaties are those with higher attachment points.
Diversification by territory and peril is the main driver of the Global Re portfolio. This conservative approach leads to a worldwide underwriting not only in the so called Peak Regions (i.e. US, Europe, Japan); the target is to mitigate the intrinsic volatility of the CAT market and this strategy has shown positive and consistent results over the years.
Global Re typically underwrites Fire or Property Excess of Loss; Engineering and Motor Own Damage are also generally covered. Sidely we underwrite wider Non-Marine treaties, when the Class of Business is sufficiently restricted to Property business. Global Re accepts a limited portfolio of so-called “Soft Retro”, that is, retrocessions of reinsurance companies that operate as captive company of the group, or state reinsurers or regional reinsurers whose portfolio is mainly consisting of proportional treaties.
Global Re does not underwrite worldwide retrocession business, in particular XL on XL are excluded.

Key Competences and Skills

  • The Global Re team of Satec Underwriting cumulatively boasts more than 80 years of experience in the (re)insurance market, combining in-depth commercial and technical knowledge.
  • Global Re is based in London, the crossroads of international reinsurance CAT business, and works closely with the Lloyd’s of London brokers community.

  • Global Re has developed internally a catastrophe modeling platform, risks are assessed from a technical (stochastic/probabilistic and burning cost analysis) and commercial point of view; the contractual wording must be consistent with the limitations and exclusion clauses agreed with our risk carriers at the beginning of the underwriting year.

  • Global Re offers an excellent risk / return ratio, thanks to a thorough knowledge of the market and contact with the main players (brokers, ceding companies). The portfolio balance is achieved through a careful diversification by territory and peril.

  • Our market contacts and knowledge allows us to attract the most interesting business and we provide a fast and effective service. During the course of the year, we regularly visit our clients and participate to the main international reinsurance conferences.