- Not to be confused with the reinsurer .
Reinsurer, reinsurance company ( English reinsurer, German Rückversicherer ) - an insurer that accepts (accepts) risk in reinsurance , often through a reinsurance broker [1] [2] [3] .
Content
Rights and obligations of the reinsurer
The rights and obligations of the reinsurer are determined by the reinsurance contract . Having accepted the risk of reinsurance on the basis of a reinsurance contract, the reinsurer may partially transfer it to another insurer (reinsurer). This operation of tertiary and subsequent placement of risks is called retrocession [2] .
The interaction pattern of the reinsurer under the primary reinsurance ( assignment ) and secondary and subsequent reinsurance (retrocession) agreements is presented in the figure.
According to Art. 967 of the Civil Code of the Russian Federation, the insurer under this agreement remains liable to the insured under the main insurance contract for the payment of insurance compensation or insurance amount [4] . The reinsurer fulfills its obligations to the reinsurer, that is, the insurance company that has entered into the main insurance contract, to the extent that is stipulated by the concluded reinsurance contract, after the insurer fulfills its financial obligations to the policyholder.
Largest Reinsurance Companies
As a reinsurer, as a rule, a larger reinsurance company, called a professional reinsurer, acts [1] . Professional reinsurers deal only with reinsurance, concluding reinsurance contracts with insurance companies around the world. The largest reinsurance companies in the world are: Munich Reinsurance Company , Swiss Reinsurance Company , SCOR , Reinsurance Group of America and others
The list of the largest reinsurers and their share in the global reinsurance market is given below [5] :
| A place | Reinsurer Name | Share in the global reinsurance market | S&P Credit Rating 2001 | S&P Rating in 2008 | S&P ranking in 2010 |
|---|---|---|---|---|---|
| one | Munich reinsurance company | 21% | AA + | AA- | AA- |
| 2 | Swiss reinsurance company | 14 % | AAA | AA- | A + |
| 3 | Hannover re | 9 % | AA + | AA- | AA- |
| four | Berkshire hathaway | eight % | AAA | AAA | AA + |
| five | Lloyd's of london | 6% | A | A + | A + |
| 6 | Scor | five % | AA- | A- | A- |
| 7 | Reinsurance group of america | four % | A | A- | A- |
| eight | Transatlantic re | 2% | AA | AA- | A + |
| 9 | Partner re | 2% | AA- | AA- | AA- |
| ten | Everest re | 2% | AA | AA- | A + |
| Total | 73% |
Notes
- ↑ 1 2 The essence of the form and the legal basis of reinsurance // Insurance: textbook / Ed. T.A. Fedorova. - 3rd ed. - M .: Master, 2009 .-- S. 831-852. - 1006 s. - ISBN 978-5-9776-0032-3 .
- ↑ 1 2 Kazantsev S.K. Reinsurance // Fundamentals of insurance: Textbook. - Yekaterinburg: IPC USTU, 1998 .-- 101 p. - ISBN 5-8096-0006-9 .
- ↑ V.V. Tulinov, V.S. Gorin. Reinsurer // Insurance and Risk Management: Terminological Dictionary . - Moscow: Nauka, 2000 .-- S. 432. - 565 p. - ISBN 5-02008-388-7 .
- ↑ Article 967. Reinsurance . Civil Code of the Russian Federation. Date of treatment April 10, 2012. Archived June 8, 2012.
- ↑ William Eyre. US Reinsurance Marketplace 2011 Perspectives Towers Watson, 2011. Date accessed April 10, 2012. Archived June 8, 2012.
Literature
Kazantsev S.K. Reinsurance // Fundamentals of insurance: Textbook. - Yekaterinburg: IPC USTU, 1998 .-- 101 p. - ISBN 5-8096-0006-9 .