Casualty Re
Casualty Reinsurance
Our casualty reinsurance segment is written on both a treaty and a facultative basis and consists of the following principal lines of business: U.S. treaty; non-U.S. treaty and casualty facultative. The casualty treaty reinsurance we write includes excess of loss and pro rata reinsurance which are applied to portfolios of primary insurance policies. We also write U.S. casualty facultative reinsurance. Our excess of loss positions come most commonly from layered reinsurance structures with underlying ceding company retentions.
Our non-U.S. casualty reinsurance business is composed of long tail treaty contracts. The majority of our non-U.S. casualty reinsurance business is written on an excess of loss basis with a small proportion written on a pro rata basis. The exposures that we cover in the non-U.S. casualty business include automobile liability, workers' compensation, employers' liability, public and product liability, fidelity business and professional indemnity. We focus on business that is exposed to severe losses but not expected to produce high levels of claims frequency.
Our U.S. casualty reinsurance business is composed of long tail treaty contracts protecting U.S. cedents mostly on an excess of loss basis. We reinsure exposures mainly with respect to workers' compensation, medical malpractice, and professional liability for regional lawyers, accountants, architects and engineers.
Our casualty facultative reinsurance line of business consists of umbrella, general liability and workers' compensation reinsurance written by our Aspen Re America New Jersey office. Approximately all exposures reinsured in this line of business are located in the United States. This is facultative reinsurance written on an excess of loss basis.
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Emil Issavi:
Head of Casualty Reinsurance
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Q4 2008 Aspen Earnings Conference Call
02/05/09 at 8.30 a.m. ET
02/05/09 at 1.30 p.m. GMT