Search results
Results from the WOW.Com Content Network
Treaty Reinsurance means that the ceding company and the reinsurer negotiate and execute a reinsurance contract under which the reinsurer covers the specified share of all the insurance policies issued by the ceding company which come within the scope of that contract. The reinsurance contract may obligate the reinsurer to accept reinsurance of ...
A reciprocal inter-insurance exchange or simply a reciprocal in the United States is an unincorporated association in which subscribers exchange insurance policies to pool and spread risk. For consumers, reciprocal exchanges often offer similar policies to those offered by a stock company or a mutual insurance company.
Reinsurance sidecars, conventionally referred to as "sidecars", are financial structures that are created to allow investors to take on the risk and return of a group of insurance policies (a "book of business") written by an insurer or reinsurer (henceforth re/insurer) and earn the risk and return that arises from that business. A re/insurer ...
A pure 'fin re' contract for a non-life insurer tends to cover a multi-year period, during which the premium is held and invested by the reinsurer. It is returned to the ceding company - minus a pre-determined profit margin for the reinsurer - either when the period has elapsed, or when the ceding company suffers a loss. 'Fin re' therefore ...
Reinsurance to close (RITC) is a business transaction whereby the estimated future liabilities of an insurance company are reinsured into another, in order that the profitability of the former can be finally determined.
Grinnell Mutual is the 110th largest property-casualty insurance company in the U.S. Its products are available in 17 states. Grinnell Mutual is the largest direct reinsurer of farm mutual companies in North America. With its member mutuals, it has over $210 billion of total reinsured value. [citation needed]
In the same year, the company was the first reinsurer ever to securitise natural catastrophe risks for the capital market. In 1996, Eisen und Stahl Rück was integrated into the Hannover Re Group. From then on, Hannover Re serves foreign insurance markets, while Eisen und Stahl Rück – now E+S Rück – takes responsibility for handling the ...
Where a reinsurer's state of domicile is NAIC-accredited or has substantially similar financial requirements, and the state of domicile determines that the reinsurer predominately engages in a reinsurance business and does not regularly sell direct insurance, the domiciliary state is the state solely responsible for regulating the reinsurer's ...