Retrocession & Capital Optimisation

Buyer-side experience meets market access

Most retrocession brokers approach the market from the sell side — packaging capacity and earning commission on volume. Berrizal Partners operates from the buyer side: we have managed large-scale reinsurance purchasing programmes — both from the captive boardroom and from within major insurance groups — and understand what cedants actually need, not what the market wants to sell.

Protecting the balance sheet

Retrocession protects captives and insurers against peak or aggregate losses that could erode their capital base. We structure covers tailored to each cedant's risk appetite, regulatory requirements, and economic objectives — whether for a mid-size captive managing Solvency II capital or a large insurance company optimising its treaty programme.

• ■ Excess of loss (XoL): protect against catastrophic or peak loss scenarios that exceed the cedant's retention capacity — stabilise the P&L and preserve solvency margin.
• ■ Quota share: share a defined proportion of risk and premium with retrocession capacity — manage capital consumption and create diversification benefit.
• ■ Aggregate stop-loss: cap cumulative annual losses — provide certainty on worst-case capital impact and support board-level risk appetite frameworks.
• ■ Capital relief structures: design fronting arrangements and collateral mechanics that achieve genuine SCR reduction while maintaining economic efficiency.

Access to retrocession capacity

As a licensed reinsurance intermediary, Berrizal Partners places retrocession covers with leading capacity providers — accessing the global reinsurance market on behalf of captives and insurance companies alike.

• ■ Panel management: curated relationships with tier-1 reinsurers (Munich Re, Swiss Re, Hannover Re, London market) and specialist capacity providers.
• ■ Placement execution: from slip preparation through to binding — managing the negotiation, documentation, and counterparty process.
• ■ Annual renewal management: continuous client service through renewal cycles — market intelligence, pricing benchmarks, and capacity monitoring.
• ■ Transparent economics: commission or fee-based — the client chooses the model that best aligns with their governance requirements.

From programme knowledge to market execution

The most effective retrocession placement starts with deep programme understanding. Clients who engage Berrizal Partners for captive advisory benefit from a natural continuity — programme knowledge informs structuring, and structuring informs placement.

• ■ Advisory fee is unconditional: not linked to whether brokerage placement follows. Clients are free to use their own broker or go to market directly.
• ■ Transparent disclosure: both advisory and brokerage roles are described from the outset. No hidden incentives or capacity commitments.
• ■ Advice stays unconflicted: programme design, capital analysis, and retrocession strategy are delivered to the same standard regardless of who executes placement.