// definition
Recapture
Taking back ceded reinsurance risks
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Short definition
The insurer takes back risks previously ceded to a reinsurer under treaty-defined triggers, sometimes before formal insolvency. Recapture requires assessment of recoverable assets, access rights, liquidity needs and required capital. The amount of liabilities recaptured is not a measure of permanent loss.
risk atlas
Knowledge map
Intuition
The cedant must be able to continue paying when its counterparty no longer performs.
Related analyses
Primary sources
- PRA: SS5/24, October 2025 versionParagraphs 2.5–2.22: recapture, collateral, liquidity and triggers.