Reinsurance is insurance for insurance companies. An insurer that takes on large risks passes part of them to a reinsurer. In return, the reinsurer receives part of the premiums and pays part of the claims when they happen.
OnRe takes on two broad groups of risk: specialty business risks and catastrophe risks. OnRe targets roughly a 50/50 split between the two.
Specialty business risks cover specific business risks, such as:
- D&O: lawsuits against company directors and officers over their decisions.
- Cyber: losses from hacking, ransomware and data leaks.
- Tech E&O: errors and omissions. Pays when a technology company’s product or service fails and a client loses money.
- Aviation: aircraft and airline risks.
- Crop: farm crops damaged by bad weather or disease.
- Marine offshore: ships and offshore oil and gas structures.
- Energy: energy projects such as power plants and pipelines.
Catastrophe risks come from large natural events, such as:
- Wind: windstorms in North America and internationally.
- Earthquake: quake damage in North America and internationally.
- Flood, wildfire, monsoon and hail: weather and disaster damage across several regions.
Catastrophe contracts pay only when total industry losses from one event reach a high level. They usually run six to twelve months.
OnRe describes specialty lines as steady, with consistent, low-volatility losses. Catastrophe contracts pay only in extreme events. Results can vary, and neither is risk-free.
OnRe says capital sits in segregated accounts and is never leveraged or reused.
Source: OnRe Portfolio Makeup (docs.onre.finance/reinsurance-framework/portfolio-makeup) and OnRe FAQ (docs.onre.finance/technical-resources/frequently-asked-questions). Checked 12 October 2026.
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