A
reinsurer is a company that offers insurance to other insurance companies. They provide coverage to the original insurance company in case they need to pay out large claims or face financial difficulties. It's like an insurance for insurance companies.
Full definition
In markets where the product is newer, many insurers choose to use the expertise
of reinsurers with worldwide exposure as well as overseas insurers who have sold the product for a number of years.
HDFC Life, which has taken the POS technology available in the market and customised it for its users by collaborating
with reinsurer Swiss Re, says that the system will help customers purchase insurance at a faster pace by reducing the policy issuance time.
The subprime crisis and and the accompanying downturn in the U.S. economy, and falling interest rates combine to form a toxic cocktail
for reinsurers like RGA.
Acting for a UK captive of AstraZeneca seeking recoveries
from reinsurers in respect of legal costs incurred in defending the US Seroquel product liability group action involving 30,000 plaintiffs.
On the one hand, I added to my existing positions in the premium carmakers BMW and Daimler as well as in the world's
largest reinsurer Munich Re.
Represented party in reinsurance dispute concerning payment
by reinsurer of share of settlement of coverage dispute related to underlying asbestos - related claims; issues included dispute over appointment of umpire for arbitration.
He highlighted IAG's quota share agreements which have laid off the risks in its books with
global reinsurers such as Warren Buffett's Berkshire Hathaway.
The seemingly endless onslaught of floods, droughts, wildfires, windstorms, blizzards and tornadoes that have marked 2011 fit within an ongoing increase in the number of natural disasters recorded in the United States, she said, citing statistics maintained by
reinsurer Munich Re.
Insurers and
reinsurers don't need to predict anything in particular, BTW.
A certain life
reinsurer who was large then (call them Geta Life), but is out of the business now (unimaginable then, but given what happened here, no surprise), reinsured a large portion of the immediate annuities and structured settlements, including rated structured settlements that the AIG domestic life companies had written.
A release from Munich
Reinsurers said not only did 26 percent of the attendees disagree with the classification, another 18 percent mentioned their companies hadn't even installed underwriting guidelines for vapers because of the lack in information.
Often, this also means reinsurance agreements which shift some risk to other companies, known
as reinsurers.
Now, I am not up on all of the exposures of
reinsurers at present.
In the mid-1980s, a number of long - tailed
P&C reinsurers found their claims experience in a number of their lines to be ticking up dramatically.
The
Bermuda reinsurers know that one day a change in their tax status may come (somehow forced to pay US tax rates — ask Bill Berkley), and that would lower earnings.
An interesting report published in September 2011 by the leading global
reinsurer Swiss Re, highlighted the huge «Mortality Protection Gap» in the Asia Pacific.
Our partners came up with an interesting, creative structure that injects liquidity into the reinsurance market; it's all about
allowing reinsurers to have funds available to them.
AAA Life manages the full administration, investment and insurance operations of all
affiliated reinsurers.
Whether internally or externally reinsured, the size of reinsurance credits relative to surplus raise solvency risk issues
if reinsurers can't or won't pay.
She also has defended clients in premises and product liability matters; litigated large, complex insurance coverage and reinsurance coverage disputes; and, represented
international reinsurers in response to a variety of long tail toxic tort claims.
Currently represent
top reinsurer in well - publicized dispute involving fungal contamination allegedly attributed to pharma products.
Trial counsel for
leading reinsurer in $ 75 million arbitration concerning treaty underwriting issues.
I may take positions in
other reinsurers, but I am not planning on that anytime soon.
Were I back in the saddle as a buyside analyst, I would be building my spreadsheet, and
calling reinsurers to get an idea of how much exposure (not losses per se, but did they write business there?)
* Multiple life insurance underwriting certifications including certificates from
major Reinsurers.
Beyond this coverage, there are two additional reserves: an IOC pool of about # 310m; and Pool Re, a UK -
backed reinsurer «of last resort» which retains # 4.5 bn in assets.
Old reinsurers tagged with claims from the catastrophe resemble Lloyd's syndicates with open years that they can't close, because the claims have not settled, or the claims impair their capital.
To the extent that
reinsurers agree to collateralization, it makes their assets less flexible, and reduces the degree of leverage that they can operate at.
RGA is a unique company; unless Swiss Re, or Munich Re, or Aegon wants to spin out their Life Re business, there are no other pure play life
reinsurers out there.
Through the company's retrocession business, it joins in quota share reinsurance deals and excess reinsurance pools of most major North American and
European reinsurers accepting a portion of reinsurance risk on life insurance policies.
1) There were 62 insurance companies operating in India by end of Mar - 2017, out of which 24 are in life insurance business, 23 general insurance, 6 in health insuranceonly and 9 are reinsurance companies including
foreign reinsurers including Lloyds India.
MUMBAI, 4th April, 2014: The cost of terror cover will be decreased and limits under the national terror insurance pool will be increased as per the decisions of
National reinsurer General Insurance Corporation (GIC Re).
The common Third Party Administrators (TPA) that would be operational from January 1, 2014 will see the four public general insurers, New India Assurance, Oriental Insurance, National Insurance and United India Insurance and
reinsurer General Insurance Corporation of India (GIC) as stakeholders.
Reinsurers such as Munich Re offer backup policies to companies writing primary insurance policies.
The ordinance also provides for permitting foreign
reinsurers like Lloyds to open a reinsurance branch in the country.
Defended insurer
against reinsurer's unsuccessful application to vacate arbitration award on factual grounds.
The big question for the industry has been
whether reinsurers will see such high losses that they can then demand higher prices for their coverage.
Put simply,
reinsurers pay a portion of the claims reinsured in excess of a threshold, in exchange for a premium paid to assume the risk.
Prevailed in reinsurance arbitration against program
reinsurer over monies owed under multiple years» contracts reinsuring commercial liability, property, and liquor liability losses.
This has led many insurers to request collateralization of reinsurance when dealing with lower
rated reinsurers.
As of December 31, estimated amounts receivable related to these contracts from two
external reinsurers, were as follows (in millions):
A significant Peruvian insurer in claims against the London
market reinsurers arising out of bankers» blanket bond fidelity policies.