, the optimist of ill-luck and disaster, slaps his pocket with satisfaction.
The primary insurer, or ceding company, transfers a portion of risk to the reinsurer
This article is written with the assumption that both the reinsurer
and the direct writer would each benefit from fully exploring all appropriate assumptions and considerations directly and indirectly impacting reinsurance pricing.
But if that were so, surely reinsurers
would be valued nearer to zero than to book value, which is not currently true of any reinsurer
would have to get a license from just one state, and a non-U.
Citadel Investment Group, a large hedge fund, is closing a Bermuda reinsurer
it formed in 2004, reports Reuters (Nov.
37) While a reinsurer
is not required to pay for losses that are not covered under the underlying policy, reinsurers
cannot second guess the good faith liability determinations made by the cedent, or the cedent's good faith decision to waive defenses to which it may be entitled.
4374-1(b), the liability for the FET attaches when the premium payment is transferred to the foreign insurer or reinsurer
(including transfers to any bank, trust fund or similar recipient, designated by the foreign insurer or reinsurer
), or to any nonresident agent, solicitor or broker.
This makes it difficult to aggregate premium if your reinsurer
does not want your other lines of business.
By the end of last year, Superior made a claim with the reinsurer
to cover an additional $175 million in losses at the group.
BH) announced today that Alterra Bermuda Limited received approval from the State of Florida to qualify as an "Eligible Reinsurer
," which allows lower collateral requirements on non-domestic reinsurers
that are highly rated and financially secure.
If a claim arises, the insured's claim will be against the cedant, not the reinsurer