Special and Financial Risks (SFR)

SFR is responsible for credit, aviation and space, enterprise/contingency and political risks, and for alternative markets business, as well as for developing capital market solutions and placing retrocession covers for the whole reinsurance group. Over and above that, SFR initiates and coordinates cross-divisional innovation projects and establishes innovative business ideas in connection with internal divisional issues.

Alternative markets consist of major industrial clients who offer us their business "directly" by way of primary insurance via brokers or so-called captives, i.e. subsidiaries set up specifically by industrial companies or groups to insure their risks.

With enterprise and contingency risks, the division offers cedants a wide range of reinsurance solutions, such as cancellation-of-events, film, residual value, or prize indemnity insurance. Innovative forms of coverage such as insurance for geological risks involving geothermal projects are an area where demand for insurance is steadily increasingly.

We view the capital markets as a supplement to traditional reinsurance, especially as alternative risk carriers or potential risk providers. Through our subsidiary Munich American Capital Markets we are active in this segment and transfer risks to and from the capital markets, assuming such risks as weather derivatives and intellectual property.