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Reinsurance: Key Technicalities Clients Should Know Are you a (re)insurer, broker, or risk manager looking to navigate the complex world of reinsurance? As an underwriter, I've firsthand information on which technicalities that can make or break a reinsurance deal. That's why I want to share some essential technicalities clients should know: 1⃣ Retentions: Understand your limits and excesses to avoid coverage gaps. 2⃣ Policy wordings: Pay attention to definitions, conditions, and exclusions. 3⃣ Treaties: Know the difference between proportional and non-proportional treaties. 4⃣ Cedent and reinsurer obligations: Clarify responsibilities and expectations. 5⃣ Claims handling: Establish clear procedures for efficient and fair claims processing. 6⃣ Regulatory compliance: Stay up-to-date with changing regulations and laws. Don't let technicalities trip you up! By understanding these key aspects, you'll be better equipped to navigate the reinsurance landscape and make informed decisions for your business. Share your own reinsurance technicalities in the comments below! And don't forget to #subscribe to the #TheInsurance4cuspodcast on YouTube to findout more about insurance that I have prepared for you. Let's continue the conversation and elevate our industry's knowledge together! #Reinsurance #Insurance #RiskManagement #Technicalities #IndustryInsights"

Last call for our open Intermediate Reinsurance Claims Course scheduled for 06 & 08 March 2024. Delivered by Ed Gooda FCII. 🌟 Elevate Your Expertise in Reinsurance Claims 🌟 Calling all reinsurance claims practitioners! 📣 Are you ready to take your expertise to the next level? Our intermediate-level course is designed just for you. 🔍 Delve Deeper: Dive into fundamental reinsurance policy terms and emerge with an understanding that will empower you in your role. 💡 Gain Invaluable Insights: Equip yourself with indispensable insights crucial for navigating the intricate landscape of facultative, proportional, and non-proportional reinsurance claims. 🔄 Shape the Recovery Process: Learn the strategies and tactics essential for shaping the recovery process. 🚀 Take the Next Step: Whether you're aiming to enhance your current skill set or unlock new opportunities, our course is tailored to fuel your professional growth. Don't miss out on this opportunity to sharpen your skills and advance your career in reinsurance claims. Register via our website or just drop us a line. #Reinsurance #Claims #ProfessionalDevelopment #CareerGrowth

Sompo International’s commercial P&C business has reported an underwriting income of $127.4 million for Q1 of the 2024 financial year, down from $155.3 million in the same period of 2023, while its combined ratio increased 1.7 points to 94.1%.

European reinsurance company Hannover Re is expecting a broadly flat risk-adjusted rate environment for the property and casualty market in 2025, which supports its combined ratio guidance of less than 88% for next year, with terms in the segment projected to be stable amid strong demand and a disciplined marketplace.

There are several advantages of treaty reinsurance over facultative reinsurance: 1. Efficiency: Treaty reinsurance is more efficient as it covers a portfolio of risks under a single agreement, eliminating the need to negotiate individual contracts for each risk, unlike facultative reinsurance which involves separate negotiations for each risk. 2. Predictability: Treaty reinsurance provides greater predictability and stability to the ceding insurance company as the terms and conditions are pre-agreed and cover a specified portfolio of risks over a defined period, whereas facultative reinsurance can be more unpredictable and ad-hoc. 3. Diversification: Treaty reinsurance allows for diversification of risks across a broader portfolio, spreading the risk more effectively compared to facultative reinsurance, which typically covers individual risks. 4. Cost-effectiveness: Treaty reinsurance may be more cost-effective for the ceding insurance company as the administrative costs associated with managing multiple facultative reinsurance contracts are reduced. 5. Risk Management: Treaty reinsurance enables the ceding insurance company to transfer a significant portion of its risks to the reinsurer, providing greater overall risk management and capital protection compared to facultative reinsurance, which is more targeted and specific in nature.

Treaty reinsurance serves as a cornerstone of the insurance industry, facilitating the transfer of risk from primary insurers to reinsurers. At Marvel Reinsurance Brokers Pvt. Ltd. we recognize the critical role that treaty reinsurance plays in enhancing insurers' risk management capabilities, optimizing capital utilization, and fostering stability in an ever-evolving market landscape. In this comprehensive guide, we explore the intricacies of treaty reinsurance, including its types, benefits, challenges, and significance, offering insights into how insurers can leverage these solutions to achieve their strategic objectives. Read more: https://lnkd.in/ds8uEz5v #reinsurance #treaty_reinsurance #MarvelRe #brokers #solutions

Which region will lead the global reinsurance market during the forecast period 2024 to 2034 ? To know more click on https://lnkd.in/eBi7aaWJ #PEXRE #APEX #DHA #Reinsurance #MENAMarket #GlobalInsurance #InsuranceTrends #MENARegion

Amazing Client Experience LIGHTHOUSE REINSURANCE BROKERS has developed and documented stringent service standards that guide our team in providing consistent, high-quality servicing at all times.As a leading broker in the East African Market, we have deep capabilities and trading relationships that will be used to differentiate our clients in the market.Innovation & agility is in our DNA – simply put, the must to innovate to compete with competitors who have inherent advantages. This commitment to innovation has differentiated us vs. our competition. At LIGHTHOUSE REINSURANCE BROKERS, we avoid “off-the-shelf” solutions and consistently provide a fresh perspective to meet our partners' evolving needs. Dedicated Expertise-Our account teams span across all capabilities required to meet your needs and deliver an Amazing Client Experience. Our top-level executives collaborate closely with our account teams on a daily basis and will have personal involvement in overseeing your account. At LIGHTHOUSE REINSURANCE BROKERS, our single P&L sets us apart from competitors who adopt a siloed approach. Our streamlined structure allows us to seamlessly deliver the best of our global services to partners without internal organizational barriers. www.lrb.co.tz office@lrb.co.tz #Reinsurance##RiskManagement#insuranceIndustry"#reinsurance# #insurance#Product#Liability#insuranceindustry##underwriting##agriculture##agriculturalproducts##farming#lighthouse#reinsurance#insurance#Credit#surety#bonds#Property#cyber#lighthouse#reinsurance#brokers#management#solutions#growth#solutions,growing businesses#

Conventional /Traditional capital heavy Reinsurance underwriting or the vehicles with greater interchangeable mode of capital infusion is something a big point of discussion among Investors/Market in last few years.Well the preference is a no secret for obvious reasons:) Yes ILS which was a big hit last year or Sidecars or the delegation in Reinsurance Underwriting (MGA/MGUs) will be definitely an attractive option specially in hard market for those believe in getting in and out of the market on scenario based distribution. However what amazed me is seeing the confidence still in the investor community on capital heavy Traditional Reinsurance Underwriting approach.Yes CAT programs are definitely a hit (low confidence) but I strongly believe a potential for Specialty lines to grow further in the traditional approach is much better. Having started my career with a traditional Reinsurer ( may say a bit biased :) it is indeed delightful to see the market not giving up hopes and keeping the balance between Alternative/Third Party capital and Traditional capital heavy Reinsurance Underwriting. Way to go still.

Ever tried to navigate the reinsurance market and felt lost? Struggle to value your reinsurance assets and liabilities? Welcome to the club of business owners grappling with the intricacies and complexities of the reinsurance industry! Frank Buonaiuto, a veteran in global reinsurance operations, has launched Tactical Reinsurance Consultants, a consulting firm designed explicitly to help you thrive in the increasingly challenging reinsurance market. The firm specializes in reinsurance structure design and evaluation, personnel training, catastrophe model management, and crucially, valuation of reinsurance assets and liabilities. We understand that your business's success hinges on your ability to adapt to industry complexities and build resilience into your reinsurance operations, but it's not always easy. This is where expertise from seasoned professionals makes the difference. It's time to reflect and ask: Are your current strategies adequate? Or could you benefit from some guidance to navigate through these vital but often overlooked aspects? Feel free to connect with me to explore how the newly launched Tactical Reinsurance Consultants can help you strengthen your reinsurance operations and arm you with the skills to handle any market turbulence. Let’s equip your business for success together!