The Essential Guide to Reinsurance has been published by Swiss Re. The Guide will be very useful to understand the working of Reinsurance practice and help you to get useful insights.
In this in-depth guide, Swiss Re introduces the concepts of reinsurance and highlights the essential function reinsurance has in enabling progress and contributing to the stability of the economy and society.
The essential guide to reinsurance explains the fundamentals of what it means to be the “insurers’ insurer” and introduces the basic forms and types of reinsurance. As well as identifying the benefits reinsurance generates for clients, it also explains the role reinsurance plays as a stabilising factor in the economy and society, enabling growth by absorbing losses and providing long-term capital through its investment activities.
The report also draws attention to the regulatory environment in which reinsurance companies operate and highlights the key characteristics of sound risk management.
A truly global industry from the outset, reinsurance has played a decisive role for more than a century in helping companies, and ultimately society, to better prepare for and manage risks. Reinsurers diversify their risks globally and share a wealth of risk expertise with their clients, thus making insurance affordable for more people.
In a world where catastrophes are becoming more regular and more costly, the role reinsurance plays in helping insurers and governments develop innovative financing solutions to address the consequences of such events is gaining significance.
The same is true for dealing with the financial consequences of an ageing population and the consequent pressure on pension funds. Reinsurers are at the forefront of efforts to identify emerging risks and have a long tradition of enabling new technologies.
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