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Reinsurance

- Noun

A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance.

- Noun

Insurance a second time or again; renewed insurance.


More related articles

  • Reinsurance

    Reinsurance is insurance that is purchased by an insurance company, in which some part of its own insurance liabilities is passed on ("ceded") to another insurance company. The company that purchases the reinsurance policy is called a "ceding company" or "cedent" or "cedant" under most arrangements. The company issuing the reinsurance policy is referred simply as the "reinsurer". In the classic case, reinsurance allows insurance companies to remain solvent after major claims events, such as major disasters like hurricanes and wildfires. In addition to its basic role in risk management, reinsurance is sometimes used to reduce the ceding company's capital requirements, or for tax mitigation or other purposes.

  • Munich Reinsurance America

    Munich Reinsurance America (also called Munich Re America), formerly known as American Re-Insurance Corporation before September 2006, is a major provider of property and casualty reinsurance in the United States. Munich Reinsurance America is a subsidiary of Munich Re. Founded in 1917, the company's headquarters is located in Princeton, New Jersey, with regional offices in San Francisco, Chicago and New York. Munich Reinsurance America, Inc. has earned an A+ financial strength rating from A.M. Best Company. The company offers solutions and services that provide clients protection from global issues such as climate change.

  • Standard Reinsurance Agreement

    The United States Department of Agriculture allows private insurance companies that participate in the federal crop insurance program to transfer a portion of their risk to the federal government. The standard reinsurance agreement establishes the terms and conditions under which the federal government will provide subsidies and reinsurance on eligible crop insurance contracts sold or reinsured by the insurance company named on the agreement.

  • Global Reinsurance

    Global Reinsurance (GR) is a financial magazine for insurance and reinsurance professionals.

  • Reinsurance Actuarial Premium

    Actuarial reinsurance premium calculation uses the similar mathematical tools as actuarial insurance premium. Nevertheless, Catastrophe modeling, Systematic risk or risk aggregation statistics tools are more important.

  • Farmers Mutual Reinsurance Company Building

    Farmers Mutual Reinsurance Company Building

    The Farmers Mutual Reinsurance Company Building is a historic structure located in Grinnell, Iowa, United States. "The Iowa Farmers Mutual Reinsurance Association was the first statewide organization of its kind in the United States." When it moved to Grinnell from Jefferson, Iowa in 1934 its name was changed to Farmers Mutual Reinsurance Company. It was still a relatively small operation at the time that required only simple rented upstairs quarters. The present building was first occupied in 1951, but only the first two floors were built. The top two floors were completed in 1957, and gave the building its present form. The company rented out the first floor to other commercial businesses. Farmers Mutual Reinsurance Company moved out of building in 1962 to a larger complex south of Grinnell, and at that time became known as the Grinnell Mutual Reinsurance Company. This building was sold to the General Telephone Company, which occupied the whole building until 1968. The Trustees of Iowa (Grinnell ) College, GTE Data of Iowa, and DeLong's Sportswear have all subsequently owned the building.

  • Reinsurance to close

    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. It is most closely associated with the Lloyd's of London insurance market that comprises numerous competing "syndicates", and in order to close each accounting year and declare a profit or loss, each syndicate annually "reinsures to close" its books. In most cases, the liabilities are simply reinsured into the subsequent accounting year of the same syndicate, however, in some circumstances the RITC may be made to a different syndicate or even to a company outside of the Lloyd's market.

  • Wikipedia talk:Articles for creation/Nonadmitted and Reinsurance Reform Act of 2010

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