RE-INSURANCE:
- 📝 What is re-insurance in the insurance industry?
- Re-insurance is a risk management strategy used by insurance companies to transfer a portion of their risk exposure to other insurers, known as re-insurers. Through re-insurance agreements, primary insurers can protect themselves against large losses or catastrophic events beyond their risk tolerance.
- 📄 How does re-insurance work?
- In re-insurance arrangements, primary insurers (ceding insurers) pay premiums to re-insurers in exchange for assuming a portion of their insurance liabilities. Re-insurers agree to reimburse the ceding insurer for covered losses that exceed certain thresholds, such as deductibles or retention limits, up to the agreed-upon re-insurance coverage limits.
- 💼 Why do insurers use re-insurance?
- Insurers use re-insurance to diversify their risk exposure, stabilize their financial performance, and protect their capital reserves against unexpected losses. Re-insurance allows insurers to underwrite larger policies, enter new markets, and manage their overall risk portfolio more effectively.
- 🔍 What are the different types of re-insurance structures?
- Re-insurance can take various forms, including treaty re-insurance, in which the ceding insurer transfers a portfolio of risks to the re-insurer under a long-term agreement, and facultative re-insurance, which involves individual risk assessments and underwriting for specific policies or transactions.
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