Reinsurance helps insurers to manage their risks by absorbing some of their losses. Traditionally, insurers resorted to sharing risks among each other or reinsuring with other insurers. Weve been engaged in the reinsurance business since our foundation in zurich, switzerland in 1863. This sigma report gives a global and regional overview of catastrophes in 20 when almost 26,000 people died in disasters. A proportional reinsurance also known as pro rata reinsurance agreement obligates the reinsurer to bear a portion of the losses, for which it receives a prorated share of the insurers.
Swiss re examines global natural catastrophes in its sigmastudy on natural cata strophes and manmade disasters, published annually. As early as 1988, swiss re produced a publication entitled natural hazard and event loss, detailing various aspects of natural hazard risk assessment. This is perfectly legitimate reinsurance as long as risk is transferred. Life guide is backed by the expertise of swiss re underwriters, doctors and actuaries who monitor the latest medical, regulatory and technological developments. This cuttingedge information is baked right in and delivers confidence to the decisions you make. Reinsurance is, by its nature, a global business which deploys capital across geographic boundaries and lines of business. Global expertise paired with local market knowledge. In this indepth guide, swiss re introduces the concepts of reinsurance and highlights the essential function reinsurance has in enabling. In this indepth 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. To work effectively, it requires a reliable legal system. Engineering insurance and reinsurance an introduction swiss re. Introduction to reinsurance, proportional and nonproportional reinsurance and a reinsurance manual of the nonlife branches. Swiss re institute, expected growth per annum in reinsurance in nominal usd terms over the next five years investors day zurich, 4 april 2018 53 our engagement model is driven by identifying and responding to client needs. Both the size and number of risks to be insured began outstripping the capacities of the insurance industry towards the second half of the 19th century.