Reinsurance: Actuarial and Statistical Aspects provides a survey of both the academic literature in the field as well as challenges appearing in reinsurance practice and puts the two in perspective. The book is written for researchers with an interest in reinsurance problems, for graduate students with a basic knowledge of probability and statistics as well as for reinsurance practitioners. The focus of the book is on modelling together with the statistical challenges that go along with it. The discussed statistical approaches are illustrated alongside six case studies of insurance loss data sets, ranging from MTPL over fire to storm and flood loss data. Some of the presented material also contains new results that have not yet been published in the research literature. An extensive bibliography provides readers with links for further study.

Reinsurance Fundamentals is a comprehensive overview of the reinsurance industry and the financial principles that guide it. It is also a penetrating study of real-world reinsurance problems and how to solve them. After an examination of the industry's underpinnings and a brief but fascinating look at its history, author Ross Phifer presents a detailed reinsurance primer. Writing for those familiar with insurance concepts, he offers an in-depth examination of how the reinsurance industry works, explains fundamental ideas, presents practical illustrations of when and how reinsurance arrangements should be considered, and describes the application of reinsurance to speculative financial transactions such as derivatives. Phifer analyzes different types of reinsurance agreements, clause by clause, and supplies thorough explanations of key concepts and their impact on the overall risk transfer. Among the topics discussed are reinsurance cessions, structures, markets, underwriting, proportional pricing, accounting, claims, and contracts. Reinsurance Fundamentals is an invaluable tool for in-house counsel, compliance officers, internal auditors, and risk managers in investment and commercial banking, securities, investment management, mutual funds, and pension fund management. It is also an important resource for corporate financial officers and an excellent reference for insurance underwriters, claims executives, risk managers, and attorneys.

Titel in englischer Sprache Eine wichtige Neuerscheinung für alle, die mit Rückversicherungen zu tun haben. Vor allem Einsteiger finden hier übersichtlich und verständlich alle relevanten Informationen auf einen Blick! Das 'ABC der Rückversicherung' ist in zwei Teile untergliedert. Im ersten befassen sich die Autoren intensiv mit der traditionellen Rückversicherung. Dazu zählen Themen wie die Vertragsrückversicherung und die fakultative Rückversicherung - und zwar sowohl in der proportionalen als auch in der nichtproportionalen Form. Der erste Teil behandelt zusätzlich zentrale Methoden der Bepreisung und der Rechnungslegung von Rückversicherungsverträgen. Zahlreiche Illustrationen, Beispiele und Übungsaufgaben mit nachvollziehbaren Musterlösungen sorgen dafür für bestmögliche Verständlichkeit. Ganz bewusst verzichteten die Autoren darauf, mathematische Herleitungen zu erklären. Aus gutem Grund: Im Vordergrund steht klar und deutlich die schnelle Anwendbarkeit, daher werden konkret die Vor- und Nachteile der einzelnen Techniken und Konzepte herausgearbeitet. Der zweite Teil widmet sich dann den fortgeschrittenen Aspekten in der Rückversicherung. Dazu gehören Methoden des alternativen Risikotransfers, aber auch die verschiedenen Anwendungsgebiete der passiven Rückversicherung kommen nicht zu kurz. In erster Linie ist der zweite Teil dazu gedacht, einen kompakten Überblick über weitere Themengebiete zu geben, die rund um die traditionelle Rückversicherung flankierend auftauchen. Bereits Anfänger, die mit dem Thema noch nicht sehr vertraut sind, können so die wichtigsten Konzepte der Rückversicherung und die in der Praxis verwandten Fachtermini einsortieren und grob bewerten! Zahlreiche Referenzen geben dabei nicht nur Sicherheit, sie dienen auch einem vertieften Einstieg. Im Einzelnen werden hier die folgenden Themengebiete angesprochen: - Fronting und Captives zur Steuerung des Selbstbehaltes der zedierenden Gesellschaft - Run-Off-Management zur Abwicklung von Versicherungsbeständen - Regulatorische Themen wie die Äquivalenz von einzelnen Aufsichtsregimen und die Erfassung von global systemrelevanten Versicherern sowie - Skizzierung von Methoden zur Optimierung von Rückversicherungsstrukturen und Selbstbehalten Ein Glossar, der die im Buch gebrauchten Fachtermini kurz erläutert, rundet das für die Branche wichtige Buch ab. Ideal für Anfänger bei Versicherungsunternehmen, die sich mit der aktiven oder passiven Rückversicherung beschäftigen, und die sich einen kompakten, schnellen und anwendungsorientierten Überblick verschaffen wollen! Those who are dealing with assumed or ceded reinsurance can find here all information at a glance. In the first part the authors deal with traditional assumed reinsurance, i.e., treaty and facultative reinsurance, both proportional and non-proportional in nature. Illustrations, practical examples and exercises enhance the reader's experience. The second part is dedicated to advanced reinsurance, e.g., to methods of alternative risk transfer and work fields in ceded reinsurance. Ideal for the beginner to obtain an application-oriented overview of the relevant concepts and techniques in reinsurance!

In 1994 a Reinsurance Working Party was set up by AIDA (Association Internationale de Droit des Assurances) with the aim of producing a series of comparative reports considering how particular aspects of reinsurance law operate in a range of jurisdictions.

Reinsurance is an important production factor of non-life insurance. The efficiency and the capacity of the reinsurance market directly regulate those of insurance markets. The purpose of this book is to provide a concise introduction to risk theory, as well as to its main application procedures to reinsurance. The first part of the book covers risk theory. It presents the most prevalent model of ruin theory, as well as a discussion on insurance premium calculation principles and the mathematical tools that enable portfolios to be ordered according to their risk levels. The second part describes the institutional context of reinsurance. It first strives to clarify the legal nature of reinsurance transactions. It describes the structure of the reinsurance market and then the different legal and technical features of reinsurance contracts, known as reinsurance ‘treaties’ by practitioners. The third part creates a link between the theories presented in the first part and the practice described in the second one. Indeed, it sets out, mostly through examples, some methods for pricing and optimizing reinsurance. The authors aim is to apply the formalism presented in the first part to the institutional framework given in the second part. It is reassuring to find such a relationship between approaches seemingly abstract and solutions adopted by practitioners. Risk Theory and Reinsurance is mainly aimed at master's students in actuarial science but will also be useful for practitioners wishing to revive their knowledge of risk theory or to quickly learn about the main mechanisms of reinsurance.

This practical guide offers a useful introduction to reinsurance, taking you step by step through the associated issues you really need to know about. An introduction is provided, setting the scene for further chapters on key topics such as the formation of agreements, terms, rights and obligations. The book covers the following areas: Nature of Reinsurance, Formation of Reinsurance, Agreements, Utmost Good Faith, Terms of Reinsurance Agreements, Rights and Obligations of the Parties, Follow the Settlements and Follow the Fortunes, Claims, Intermediaries, Jurisdiction and Applicable Law, Arbitration.

Reinsurance is a market that provides cover for the devastating consequences of unpredictable events such as Hurricane Katrina, or the Tohoku earthquake, underpinning society's capacity to rebuild after the unthinkable happens. This book fleshes out how this important and quirky financial market works.

We seem to be living at a time when insurance is strained to the breaking point. From hurricanes and earthquakes to terrorist attacks and threats of nuclear devastation, enormous risks to life and property; and accompanying liabilities; proliferate on an unprecedented scale. Insurer insolvency is not yet common, but it is not unusual either. And at the root of such failures often lies the compound failure of uncollectable reinsurance. This important book proposes that a significant part of the emerging insurance crisis results from inadequate regulation of reinsurance. In a detailed and cogent analysis of what an effective regulatory regime for reinsurance must entail, the author examines such factors as the following: direct supervision of reinsurers versus supervision of reinsurance policies models from developed countries (US, UK, EU) and international organisations (Organization for Economic Cooperation and Development, International Association of Insurance Supervisors) the importance of taking legal and economic differences into account while applying models the problem of local protectionism, especially in developing countries the dismantling of trade barriers in the reinsurance industry global harmonization of reinsurance regulation the role of reinsurance intermediaries finite risk reinsurance insurance-linked securities. The author's concluding chapter presents an essential legal infrastructure that allows for efficiency, security, and individual market characteristics. Professor Wang then applies this framework to the Taiwanese insurance market, demonstrating convincingly how his proposed regime can solve specific problems while respecting Taiwan's distinct market environment. As a meticulously considered appraisal of, and solution to, a world problem that is growing quickly and uncontrollably, Reinsurance Regulation will be of immense value to lawyers, professors, academics, and officials who deal with any facet of economic law.