Results for tag: "Risk Transfer"

Reinsurance is a form of risk transfer in which an insurer (the reinsurer) agrees to take on some of the risk of an insurance policy from another insurer (the ceding company). This allows the ceding company to reduce its exposure to risk and spread the risk among multiple parties. Reinsurance can be used to cover a variety of risks, including property, casualty, life, health, and annuity. Reinsurance is a global market, with reinsurers providing coverage to insurers in many countries. Reinsurance can be provided on a facultative basis, in which the reinsurer agrees to cover a specific risk, or on a treaty basis, in which the reinsurer agrees to cover a certain percentage of all risks taken on by the ceding company. Some of the major players in the reinsurance market include Munich Re, Swiss Re, Hannover Re, SCOR, and XL Catlin. Show Less Read more