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What is Reinsurance. Reinsurance - insurance for insurance companies”. A reinsurance transaction is an. agreement between two or more parties, the reinsured or ceding company and reinsurer(s) . The reinsurer(s) agree to accept a certain. Portion of the reinsured’s risk upon terms and conditions as set out in the agreement.
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There is no substitute for technical appreciation and knowledge when it comes to managing risks, and one of the strategic goals of Africa Re is to promote and support education and training in the insurance and reinsurance space. This “Introduction to Reinsurance” is the first in a series of courses designed to this end.
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May 17, 2013 · The essential guide to reinsurance. 17 May 2013 15 min read. Get the publication. In this in-depth guide, Swiss Re introduces the concepts of reinsurance and highlights the essential function reinsurance has in enabling progress and contributing to the stability of the economy and society. German and French editions are available now.
Reinsurance has been defined in various ways by expert commentators and the courts. In simple terms, reinsurance is insurance for insurance com-panies provided in the form of a contract of in-demnity rather than a liability contract. Generally, the direct insurer must first pay a loss and then seek reimbursement for that loss from its reinsurer ...
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Apr 1, 2009 · Introduction to reinsurance (English) Reinsurance is a financial transaction by which risk is transferred from an insurance company to a reinsurance company in exchange of a payment (reinsurance premium). Providers of reinsurance are professional reinsurers which are entities exclusively dedicated to the activity of reinsurance.
Reinsurance supports insurers’ financial strength and increases the insurance market’s capacity to absorb large losses. Through judicious use of reinsurance, primary insurers can underwrite more insurance, in terms of both quantity and line of business. This helps to reduce gaps in insurance protection.
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What is reinsurance learning objective?
- An understanding of reinsurance documentation - A knowledge of additional types of reinsurance cover not covered in course 1 - An understanding of reinsurance accounting - An understanding of statistics, incurred but not reported claims and risk profiles - An understanding of pricing methods - An understanding of the reinsurance cycle.
