The traditional insurance and reinsurance market is facing many challenges due to COVID-19. In light of the importance of keeping re/insurance trades flowing, Tremor is opening weekly online Industry Loss Warranty (ILW) auctions beginning April 2, 2020. The company will host a weekly auction every Thursday to ensure that the ILW market continues to operate while bringing additional efficiencies to the process. Buyers and sellers of ILW protection are welcome to participate.

As Tremor closes the books on 2019, we pause to take a look back at the performance our marketplace achieved for cedents. We publicly announced top-line statistics back in December – more than 100 clients signed up on both sides of the market and more than $2 billion in priced capacity. The graph below highlights the experience of cedents who placed their treaties through Tremor, compressing the pricing and placement into a short auction that completes in less than 5 days.

Tremor, the leading programmatic marketplace for insurance and reinsurance risk transfer, has now exceeded more than $2 billion in reinsurer quotes and now counts more than 100 reinsurers, Lloyd’s syndicates and ILS funds as members of its marketplace. Last week, W. R. Berkley Corporation successfully priced and placed the renewal of its 2020 Property Catastrophe Program on the Tremor marketplace. More than 50 reinsurers from all major markets participated with $600 million of capacity made available by Tremor for the renewal.