Reinsurance

Citadel Re’s operations are structured to respond to the demands of its clients around the world.

Our focus is small- to medium-size companies, and we are particularly active with self-insureds through captives, risk retention groups and reciprocals.

We aim always to offer intelligent and well-structured solutions.  Our small size means we tailor our response to each specific opportunity. 

Flexible, innovative and creative, we offer (and have entered into):

  • Reinsurance on all major business lines (property, workers compensation, personal and commercial auto, agricultural, professional & product liability (including medical malpractice), catastrophe, financial guarantee, special & alternative risks) 
  • Industry-standard contract structures including quota share, excess of loss and aggregate stop loss 
  • Prospective and run-off support such as loss portfolio transfer or novation to allow an insurance company to shed unwanted liabilities.

Historically we have worked within the $250,000 to $10,000,000 premium level. That said, we’re often asked, “How small a deal will you do?”. In an extreme case, we assumed the liabilities of a risk retention group that had no remaining case reserves. That particular RRG had written policies on an incurred basis and could not be liquidated until all risks were novated.  We did a thorough due diligence review and, when we understood the risk, found we were able to help for a premium of less than $100,000.

We are also often asked, “Will you work with start-up insurance companies?”, and reply with an unequivocal, “Yes”. We know how difficult it is for new companies (with just a business plan and no historic loss data) to attract interest from reinsurers, and we want to help. If your management is motivated, understands risk management, and needs to cede risk away, Citadel Re will work with you to offer a competitive and reasonable premium and an intelligent, useful reinsurance program. It doesn’t matter what part of the industry you are in, we will listen to you and support your growth.

Clients often say, “I’m concerned I’ll have reinsurance just for a year, only to lose it at renewal”. Citadel Re frequently structures multi-year programs that ensure extended coverage, and offers profit sharing. 

On a worldwide basis, we write business both through brokers and on a direct basis. A surprising amount of our work comes from lawyers, accountants, business-owners and personal referral. 

The most important issue is that if you know your business and need an experienced, trustworthy partner, we will work with you no matter how unorthodox the proposal may be.