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Presentation of PARIS RE Facultative operations

PARIS RE has established a facultative division which is exclusively dedicated to the writing of facultative contracts in the property, energy onshore and offshore segments and is managed separately from our other lines of business.

Our facultative underwriting accounts for 23% of our gross written premiums. It provides property facultative reinsurance, energy onshore and offshore coverage as well as credit and surety, weather related products and sports, leisure and entertainment coverage.

On a facultative basis, our underwriting teams provide weather related products for the following economic sectors: energy, agri-business, construction, and the leisure industry.

In addition, our underwriting teams offer cancellation, non-appearance, film production insurance and prize indemnity coverage in the sports, leisure and entertainment market. In those markets, we specialize in small or mid-sized events such as concerts, but also write larger scale events such as the Olympic Games or the FIFA World Cup.

Our underwriting strategy in the facultative line of business is to carefully control aggregate exposures and to seize profitable opportunities where we believe we have the potential to grow and develop.

Facultative Division Organization

Underwriting teams organized by line of business operate under the technical supervision and control of class managers.

Facultative underwriters in our facultative division continuously analyze individual risks and refine their underwriting tools in each market. For our energy offshore and onshore facultative business, underwriters based in Paris are responsible for underwriting on a worldwide basis. For property, where local expertise is critical, the New York office focuses on clients and brokers in the USA, while the Miami office originates the business for Central and South American as well as Caribbean clients. Our Montreal office writes Canadian risks and our Singapore based team writes Asian risks.

Where appropriate, the natural peril exposure and pricing are derived from an external software model supplemented with our own analyses, data and adjustments.