Odyssey Re

What Odyssey Re does

Odyssey Reinsurance Company (OdysseyRe) is the reinsurance underwriting arm of Odyssey Group, a subsidiary of Fairfax Financial Holdings Limited (TSX: FFH), and operates as a globally diversified property and casualty reinsurer headquartered in Stamford, Connecticut. Founded in 1996 and owned by Fairfax for 30 years, OdysseyRe underwrites treaty and facultative reinsurance on both proportional and excess of loss bases across 13 core product lines: Accident & Health, Agriculture, Auto/Motor, Aviation & Space, Casualty, Cyber Liability, Marine & Energy, Property, Property Retrocession, Surety & Trade Credit, Terrorism, and regional Facultative (Latin America and U.S.). The company serves insurance companies (cedent companies) ranging from small firms to the world's largest multinational insurers, including mutual companies, multi-line stock companies, surplus lines carriers, specialty carriers, and captives, distributing capacity through wholesale brokers, Lloyd's brokers, and reinsurance intermediaries.

OdysseyRe operates through a global network of 14 branch and representative offices across five regions (North America, Latin America, EMEA, AsiaPacific, and London), with the broader Odyssey Group maintaining 35 offices in 13 countries when including its Hudson Insurance Group and Newline Group (Lloyd's Syndicate 1218) subsidiaries. The company is rated AA- (Very Strong) by Standard & Poor's, A+ (Superior) by AM Best, and A2 (Good) by Moody's, and reported Gross Premiums Written of $4.0 billion for the year ended December 31, 2025. Go-to-market is anchored in specialist underwriting teams with deep product-line expertise, lead market positioning where relationships warrant, and long-term client relationships managed regionally.

Revenue is generated through reinsurance premiums paid by ceding insurance companies, with pricing set on a highly individualized basis tied to risk assessment, coverage terms, and client relationships rather than standardized tiers. Recent strategic activity has centered on a leadership transition (Carl Overy as Group CEO effective January 1, 2025), a March 2026 refreshed brand identity unifying Hudson and Newline under the Odyssey wave symbol, and senior underwriting appointments across EMEA, Canada, and the U.S. to deepen specialty lines such as cyber liability, property treaty, and general casualty.

Name

Odyssey Re

Legal name

Odyssey Reinsurance Company

Website

https://odysseyre.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

501–1,000 employees

Short description

OdysseyRe is a U.S.-based global property and casualty reinsurer, wholly owned by Fairfax Financial Holdings, underwriting treaty and facultative coverage across 13 product lines from offices in five regions to insurance companies worldwide.

Ownership category

akta.pro rank

Product category

Reinsurance (Property and Casualty)

NAICS

Reinsurance Carriers (524130)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Financial Lines Treaty Reinsurance (e.g., D&O, E&O, professional liability) (FSAOAEAG)

akta.pro secondary industries

Facultative Accident & Health (A&H) Reinsurance (FSAOAFAI), Professional Liability (E&O) Reinsurance (FSAOADAH), Excess Casualty (Lead/Umbrella/XS) (FSAJAGAA), Specialty & Excess/Surplus Lines (E&S) (FSAJAMAH), Fine Art, Specie & High-Value Property Reinsurance (FSAOADAO)

Keywords

• Property casualty reinsurance
• Treaty reinsurance underwriting
• Facultative reinsurance
• Catastrophe retrocession
• Specialty insurance reinsurance

Headquarters

HQ city

Stamford

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Reinsurance Premiums: OdysseyRe generates revenue through reinsurance premiums paid by insurance companies (cedent companies). Gross Premiums Written reached $4.0 billion for the Year Ended December 31, 2025. The company writes both treaty and facultative reinsurance across property and casualty lines on a proportional and excess of loss basis.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

OdysseyRe underwrites a full range of property and casualty reinsurance products on both treaty and facultative bases, on proportional and excess-of-loss structures, serving insurance companies and brokers worldwide. Products span 13 lines including Property, Casualty, Auto/Motor, Marine & Energy, Aviation & Space, Agriculture, Accident & Health, Cyber Liability, Surety & Trade Credit, Terrorism, Property Retrocession, and regional Facultative offerings for the U.S. and Latin America. Reinsurance capacity, lead-market expertise, and global claims service are delivered through 14 branch and representative offices across five regions.

Product overview

OdysseyRe is a globally diversified reinsurance company offering a comprehensive portfolio of property and casualty reinsurance products on both treaty and facultative basis. The company operates through a multi-product platform organized across 13 core product lines: Accident & Health, Agriculture, Auto/Motor, Aviation & Space, Casualty, Cyber Liability, Facultative (both Latin America and U.S. divisions), Marine & Energy, Property, Property Retrocession, Surety & Trade Credit, and Terrorism. These products are delivered through five regional divisions covering North America, Latin America, EMEA, AsiaPacific, and London Market, supported by a global network of 14 branch and representative offices.

Differentiator

Problem solved

Functional benefit

Products and services

• Accident & Health Health and personal accident treaty reinsurance coverage, including excess medical, quota share medical, accidental death and dismemberment, and personal and student accident coverage for insurance company clients.
• Agriculture Reinsurance for agricultural lines including crop hail, crop multi-peril, and livestock (including aquaculture) across Canada, Europe, Middle East, Africa, Latin America, U.S., and Asia Pacific.
• Auto/Motor Active treaty market for commercial and personal transportation liability exposures on pro-rata or excess of loss basis, including commercial trucking, business auto, specialty transportation, livery, and standard/non-standard personal auto.
• Aviation & Space Reinsurance solutions for aviation and space sectors including general aviation, airlines, military aviation, and space coverage on both proportional and non-proportional basis.
• Casualty Underwrites a wide range of casualty products from standard coverages to specialty and professional lines on pro-rata and excess of loss basis, including general liability, auto liability, environmental liability, workers compensation, umbrella, professional liability, and healthcare liability.
• Cyber Liability Supports partners globally in addressing cyber risk on facultative and treaty basis, with product-line expertise spanning numerous industry classes and geographies, offering quota share, aggregate and event excess of loss, and industry loss warranties.
• Facultative - Latin America Full range of property and casualty reinsurance products on direct or brokered basis with competitive pricing and responsive service, covering property, machinery & equipment, agriculture, terrorism, and accident & health for Latin American clients.
• Facultative - U.S. Significant underwriting depth in all casualty facultative lines including general casualty, corporate products (D&O, E&O, employment practices, fiduciary, professional liability), and cyber coverage, delivered from the New York office.
• Marine & Energy Marine & Energy treaty business on proportional and non-proportional basis covering hull, cargo, specie, liability, war, and energy classes, with lead capacity provided from the London office.
• Property Property treaty on both proportional and excess of loss basis with catastrophe modeling capabilities, covering personal and commercial lines portfolios for clients ranging from small companies to multinational insurers.
• Property Retrocession Substantial capacity on subscription or private basis for property retrocession including treaty catastrophe retrocession, industry loss warranties, and protections of direct and facultative accounts.
• Surety & Trade Credit Traditional surety and trade credit treaty business focused on clients with mutual profitability concepts and proven track records, avoiding strict financial guarantees and credit enhancements.
• Terrorism Terrorism reinsurance including war, terror, political violence, strikes, riots and civil commotion, kidnap & ransom, cyber terror, NBCR, and political risks to governmental pools and open market insurers.

Quantifiable outcome

• Gross Premiums Written of $4.0 Billion for 2025
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• RenaissanceRe: A Bermuda-based specialty P&C reinsurer with deep property catastrophe and specialty expertise; comparable to OdysseyRe's property treaty and retrocession offerings.
• Everest Re: Bermuda-headquartered global P&C reinsurer and insurer with a strong treaty and facultative platform — competing directly with OdysseyRe in casualty and specialty lines.
• SCOR: A French-headquartered global P&C and life reinsurer with a multi-region treaty and facultative platform — directly comparable to OdysseyRe's geographic footprint (Paris-headquartered, EMEA-anchored).
• Swiss Re: The second-largest global P&C and life reinsurer, Swiss Re operates treaty and facultative reinsurance across all property and casualty lines worldwide — a near-perfect analog to OdysseyRe's full-range P&C platform.
• Munich Re: The world's largest P&C reinsurer by premium, Munich Re writes the full range of treaty and facultative property, casualty, and specialty lines globally — closely mirroring OdysseyRe's product breadth and multi-region platform.
• Hannover Re: One of the top three global reinsurers, Hannover Re writes treaty and facultative P&C across all major lines and geographies, with particular strength in specialty lines — closely comparable to OdysseyRe's mix.
• PartnerRe: A multi-line global P&C reinsurer (now owned by Covéa) writing treaty and facultative across all major lines and geographies — closely comparable in scope to OdysseyRe.

Broad incumbents

• Lloyd's of London: The Lloyd's market is both a competitor and a platform through which OdysseyRe writes Syndicate 1218 — it is the most established venue for specialty and treaty reinsurance globally, with overlapping capability.
• Berkshire Hathaway Reinsurance Group: One of the largest reinsurance operations globally, BHRG writes property cat, quota share, and multi-line P&C — a broad incumbent comparable in scale to OdysseyRe but with deeper pockets and a more concentrated book.

Emerging players

• TransRe: A privately held global reinsurer focused on specialty and treaty P&C — smaller and narrower than OdysseyRe but operating in adjacent product lines and distribution channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/odyssey-re

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Odyssey Re