Certain statements and illustrations contained herein are forwardlooking. This organisation has since set standards on how to format and report natural. This publication is a highlevel introduction to sii for interested parties. Gary myers, cpcu, are lost woods re, llc centralia, mo. Since 1863, swiss re has been a leader in wholesale reinsurance, insurance. Flood insurtech neptune files patent for triton technology. Providers of reinsurance are professional reinsurers which are entities exclusively. Strategic reinsurance swiss re capital management april 2018 loss portfolio transfers lpt retroactive quota share priced on present value of booked reserves 8 in return for the payment of a premium based on the present value of the clients companys net booked claims reserves plus some charge, swiss re provides reinsurance. As early as 1988, swiss re produced a publication entitled natural hazard and event loss, detailing various aspects of natural hazard risk assessment. Swiss re s criteria for catastrophic events in 2011 8 figure 3.
You may justifiably ask, do we really need this brochure. The contribution of reinsurance to managing catastrophe risk makes use of a. Although all the information used in this study was taken from reliable sources, swiss rein. Response on offshore reinsurance tax affiliate reinsurance. Swiss re the swiss re group is one of the worlds leading providers of reinsurance, insurance and other forms of insurancebased risk transfer, working to make the world more resilient. On behalf of the committee on property and liability financial reporting coplfr of the american academy of actuaries, 1 i appreciate the opportunity to provide comments on the statutory accounting principles working groups proposal regarding reinsurance risk transfer, exposure draft no. An introduction to reinsurance foreword to the reader, many authors have written a great many works on reinsurance, and swiss re s publication of an introduction to reinsurance is adding yet another title to this long list. In this indepth guide, swiss re introduces the concepts of reinsurance and highlights the essential function reinsurance has in enabling.
Aa1460146 swiss reinsurance company ltd switzerland 4262018 42618. Life reinsurance market excluding retros according to the 2004 marcsoa reinsurance survey canada life re gen re generali hannover marc. Swiss re foreign china taiping re domestic hanover re foreign picc re domestic general re foreign scor re foreign rga foreign qianhai re domestic lloyds foreign. We believe that the answer is yes and for good reason.
Pdf presentation from the 2018 life reinsurance survey conducted by munich re life us in conjunction with the reinsurance. Charlie wood neptune flood, an alldigital flood platform that leverages data analytics to provide agents and direct buyers the ability to rapidly quote and bind a policy, has filed a patent application for its triton technology. Insurance companies around the world depend on munich re s expertise and financial strength. Vince friscia senior vice president berkley re direct stamford, conn. Swiss re is a 152yearold global reinsurance company that has helped america recover from disasters since the san francisco earthquake of 1906. Swiss re appreciates this opportunity to comment on the financial crimes enforcement network s fincen proposed regulations implementing section 352 of the usa patriot act the act with respect to insurance companies. An introduction to reinsurance is designed as a training text. The aim of the swiss re group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. In property and casualty, most of the big companies, general re, employers re, munich re, swiss re, or reinsurers only, do not sell direct business.
We would like to show you a description here but the site wont allow us. Initial certificiation effective date of certification financial strength rating lines of business certified to reinsure. Fundamentals of risk management and reinsurance in practice. The swiss re group is one of the worlds leading providers of reinsurance, insurance and other forms of insurancebased risk transfer, working to make the world more resilient. Essentially, reinsurance can limit the amount of loss an insurer can potentially suffer.
Reinsurance is a form of insurance purchased by insurance companies in order to mitigate risk. Propertycasualty reinsurance, which usually generates most of munich re s profits in normal years, posted a loss in 2017. Dealing direct and working through brokers, its global client base consists of insurance companies, midtolargesized corporations and public sector clients. Pdf insurers buy reinsurance for risks they cannot or do not wish to retain and to benefit from the capital relief reinsurance provides. In life reinsurance markets in the us and the uk, a high proportion of mortality business stems from insurance companies preferring to focus on investment business. Reinsurance is a stoploss program provided by ahcccs to the contractor for the partial reimbursement of covered medical services incurred for a member beyond an annual deductible level. This sigma report gives a global and regional overview of catastrophes in 20 when almost 26,000 people died in disasters. The swiss reinsurance company swiss re is one of the leading reinsurance organizations, and the worlds largest life reinsurer. Proportional and nonproportional reinsurance swiss re. Vince friscia is a senior vice president for berkley re direct and leads the companys casualty facultative. The largest proportion of its premium volume is achieved through property insur ance 50 % and life insurance 36%. Transfer pricing of reinsurance institute and faculty of. Nina is currently working at oliver wyman actuarial. Swiss re institute, expected growth per annum in reinsurance in nominal usd terms over the next five years investors day zurich, 4 april 2018 53 our engagement model is driven by identifying and responding to client needs.
News on one of the worlds largest reinsurance companies swiss re. Compiled from diverse sources and enriched with examples and illustrations, it also says a good deal about the way swiss re does business. Secure file transfer an online tool to transfer your strictly confidential files securely to swiss re. We listen, we build partnerships and we deliver reinsurance solutions that work for you. The contribution of reinsurance markets to managing.
For us, its not about how much weve changed over the past quarter of a century, but how much weve stayed the same. Each user has a sft filebox to which files can be sent and received. Introduction to reinsurance, proportional and nonproportional reinsurance and a reinsurance manual of the nonlife branches. Notes to editors swiss re the swiss re group is a leading wholesale provider of reinsurance, insurance and other insurancebased forms of risk transfer. Swiss re is a leading global reinsurance company and our news covers its announcements, people moves, results and financial performance, as well as analysis of reinsurance market trends and interviews. Over the last two decades some of the largest and oldest reinsurance groups in the world, such as munich re, swiss re, and zurich re from europe, qbe from australia, and tokyo marine from japan, also expanded their presence in the. All opinions are those of the speaker and not necessarily that of swiss re. Rdg presentation swiss re 2 innovations in reinsurance agenda 1 coverage of the presentation scope and purpose. Reinsurance is one of the major risk and capital management tools available to.
Dealing direct and working through brokers, its global. The information and opinions contained in the presentation are provided as at the date of the presentation and are subject to change without notice. Proportional reinsurance is based on original liability and proportional cession, whereby in the case of nonproportional reinsurance, it is the amount of loss and the cover limited in amount which is significant. The swiss re group is a leading global provider of reinsurance and bespoke insurance solutions. Swiss re sigma study on world insurance in 2012 shows premium. Nov 21, 2017 dampen both primary insurance and reinsurance premium growth. Now lets discuss one of the sources of life reinsurance capacity in the world. Swiss reinsurance company ltd, commonly known as swiss re, is a reinsurance company based in zurich, switzerland. Munich re s assessment of natural catastrophes worldwide from 1980 to 2012 figure 4. Yearly renewable term yrt reinsurance coverage for which the premium rates are not directly related to the premium rates of the original plan of insurance yrt is generally thought of as mortality only reinsurance and is one of the cheapest forms of mortality risk transfer. The need for substantial reform is acknowledged almost universally. Pdf of slides from the 2017 life reinsurance survey conducted by munich re life us in conjunction with the reinsurance. Founded in 1863, swiss re operates through offices in more than 25 countries. Acquisition costs all expenses directly related to acquiring insurance or reinsurance.
In this indepth 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. Pdf of presentation of the 2016 life reinsurance survey conducted by munich re life us in conjunction with the reinsurance section of the society of actuaries. The arizona health care cost containment system ahcccs is selfinsured for the. Rest 4% asia 3% western europe 25% latin america 1% north america 67%. We offer our partners the entire spectrum of services, from traditional reinsurance solutions in every sector to innovative forms of risk transfer all tailored to their individual needs. Introduction into reinsurance, 7th edition, zurich 2002 english and german swiss re. But and this is the good news prices for reinsurance business renewed at the start of the year increased as a result of the huge market losses. Pricing of a nonproportional per risk reinsurance programs it should not be based only on historical claims experience current exposure should also be considered shift in business movements in the portfolio volumes in case of insufficient claim history it is indispensable. All those reinsurance solutions involve significant risk transfer, but are customised in a way that allows cedents to target certain specific strategic business needs. Breaking the mould most reinsurers will look back at 2012 with some satisfaction, having increased revenue and profitability1 following the record losses of 2011. A reinsurer may also reduce its assumed reinsurance risk by purchasing reinsurance coverage from other reinsurers, both. The swiss re group is a leading wholesale provider of reinsurance, insurance and other insurancebased forms of risk transfer.
Swiss re respectfully submits this comment letter in response to the request for comments on the national protection and programs directorate cyber incident data repository white papers. Gary myers is a familiar figure to many in the propertycasualty insurance industry. Swiss re is a leading and highly diversified global reinsurer, founded in. Swiss re has a specialised department established to assess natural hazards, and it is also continuously engaged in trying to improve the effectiveness of such models. It anticipates and manages risk from natural catastrophes to climate change, from ageing populations to cyber crime. Glossary of reinsurance terminology term definition accident year experience reinsurance experience calculated by matching the total value of all losses occurring during a 12month period with premiums earned for the same period. After receiving a phd in currency and futures risl reinsurance, he worked in the investment area, before transferring to australian re sydney, melboume, auckland in 1983. Facing the future emerging, issues, risks, and opportunities new york, ny september, 2016 steven n. Against this background, in part iii tobias straumann examines the history of the swiss reinsurance company, founded in 1863, providing a fascinating example of how professional risk taking was developed over the last 150 years.
Swiss re response to 3 nov 2015 fsb consultation developing effective resolution strategies and plans for systemically important insurers introduction swiss re is pleased to submit a response to the fsbs consultative document cd on developing. Just as an individual or company purchases an insurance policy froman insurer, an insurance company may purchase fairly comprehensive reinsurance from one or more reinsurers. The secure file transfer tool enables a twoway communication by means of a filebox system. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext.
Understanding facultative reinsurance thursday, march 2, 9. As a major reinsurer, swiss re has engaged in a deep dialogue with clients and business partners and experienced a more holistic approach to reinsurance buying behaviors, which we want to share beyond the boundaries of europe. Majority of which, was at swiss re where she worked in the valuation team for three years and as the marketing actuary for the group life and ltd team for two years. Swiss re increases efficiency for 9,000 employees nitro. Pdf presentation from the 2018 life reinsurance survey conducted by munich re life us in conjunction with the reinsurance section of the society of actuaries. China reinsurance market overview cas spring meeting may 15th may 18th, seattle, wa weishu fan, fcas, maaa agenda 1. Introduction to reinsurance rodolfo wehrhahn definition reinsurance is a financial transaction by which risk is transferred ceded from an insurance company cedant to a reinsurance company reinsurer in exchange of a payment reinsurance premium. An introduction to reinsurance foreword to the reader, many authors have written a great many works on reinsurance, and swiss res publication of an introduction to reinsurance is adding yet another title to this long list. New opportunities for insurers and investors, sigma 72006 english and german. Risk transfers in insurance and reinsurance 5 figure 2.