What is reinsurance?

In this enlightening video, we demystify the world of insurance and reinsurance. Insurance serves as a protective shield for both individuals and businesses, shielding them from various risks. Reinsurance, often referred to as "insurance of insurance," is a strategic arrangement where insurers seek coverage from other insurance companies to secure themselves against potential insurance claims. But the story doesn't end there; reinsurance transforms the original insurer into the insured party.

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The advantages are substantial: the ceding company's capital is liberated, fortifying their solvency margin, and enabling them to broaden their underwriting capabilities while concurrently curbing underwriting expenses. We'll also delve into the various types of reinsurance policies, such as facultative coverage reinsurance, treaty reinsurance, proportional reinsurance, and non-proportional reinsurance, shedding light on how they operate. Facultative reinsurance, in particular, entails a meticulous process for each risk, involving submission, acceptance, and ultimate agreement.

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[nkajjanicholas]

Thanks so much for the great information. Please clarify if with treaty and facultative insurance: in both lie proportional and non-proportional reinsurance.

[salaheldin]

Thank you so much for the incredible information you have given, indeed it was such a brilliant and valuable lecture. Respectfully, Salah

[FlavorWorld]

Insurance has insurance. What if a reinsurance company gets reinsurance? 🤔