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Counterparty · Reinsurer

Flatts Inlet Reinsurance

Flatts Inlet Reinsurance leads the panel of reinsurers to which the group's Bermuda vehicles cede risk above the retained layer under annual treaties. The relationship began in 2021 when the Hamilton office opened and the first insurance-linked structure was formed. Flatts Inlet takes US$31 million of the US$71 million maximum aggregate exposure carried through the Longtail Segregated Accounts Company, most of it aquaculture biomass loss and crop failure.

Type
Reinsurer
City
Hamilton
Region
Caribbean
Relationship since
2021

The relationship

For clients, the arrangement converts biological risk into a priced and transferable instrument. Aquaculture and livestock positions originated by the Private Equity division carry stock mortality and disease risk that few investors want to hold outright. Flatts Inlet prices that risk, takes the tail, and lets the underlying capital move on the firm's timetable rather than the season's. Treaty terms are renewed each January and the reserving is reviewed by the Risk & Valuation Committee every quarter.

Services to IGUAKO and its clients

  • Lead reinsurer on the annual treaties of the Bermuda vehicles
  • Aquaculture biomass loss and disease reinsurance
  • Crop failure and weather reinsurance for agri-science positions
  • Collateral and trust account arrangements for reinsurance recoverables

Also in the region

Caribbean.