再保险ZLX老师讲义综述.docx

再保险ZLX老师讲义综述.docx

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再保险ZLX老师讲义综述

PrinciplesandPracticeofReinsurance

InstructorZengLixin

LectureOne

IntroductiontoReinsurance

ConceptofReinsurance

Thetransactionwherebythereinsurer,foraconsideration（premium）,agreestoindemnifythecedingcompanyagainstallorpartofthelossthatthelattermaysustainunderthepolicyorpoliceswhichithasissued.（CPCU141P2）

书上定义:

Thetransferofinsuranceriskfromoneinsurertoanotherthroughacontractualagreementunderwhichoneinsurer（thereinsurer）agrees,inreturnforareinsurancepremium,toindemnifyanotherinsurer（theprimaryinsurer）forsomeorallofthefinancialconsequencesofcertainlossexposurecoveredbytheprimaryinsurer’spolicies.

Insuranceforinsurers

PRC《保险法》第二十九条规定，“保险人将其承担的保险业务，以分保形式，部分转移给其他保险人的，为再保险。

”

再保险合同并不改变原有的insured和primaryinsurer之间的权利义务关系。

SomeDefinitions

Reinsurer:

Theinsurerthatassumesallorpartoftheinsuranceriskfromtheprimaryinsurer.

Reinsurancepremium:

Theconsiderationpaidbytheprimaryinsurertothereinsurerforassumingsomeoralloftheprimaryinsurer’sinsurancerisk.

Primaryinsurer:

Theinsurerthattransfersorcedesallorpartoftheinsuranceriskithasassumedtoanotherinsurer.

（primaryinsurer=cedingcompany=cedent=directinsurer）

一个公司可以同时作为分出公司和分入公司

Insurancerisk:

Uncertaintyaboutadequacyofinsurancepremiumstopaylosses.

Retention:

Theamountofinsurancerisktheprimaryinsurerretainsandthatisnotcededtothereinsurer.（可以百分比形式或数额形式表示）

Retrocession:

Areinsuranceagreementwherebyonereinsurer（theretrocedent）transfersallorpartofthereinsuranceriskithasassumedorwillassumetoanotherreinsurer（theretrocessionaire）.

Retrocedent:

Thereinsurerthattransfersorcedesallorpartoftheinsuranceriskithasassumedtoanotherreinsurer.

Retrocessionaire:

Thereinsurerthatassumesallorpartoftheriskacceptedbyanotherreinsurer.

Risk:

Uncertaintyabouttheoccurrenceofaloss.Inreinsurance,thetermriskoftenreferstothesubjectofinsurance,suchasabuilding,apolicy,agroupofpolicies,oraclassofbusiness.

Insurancereinsuranceretrocession

insuredprimaryreinsurerretrocessionaire

insurer（retrocedent）

HistoryofReinsurance

1.Emergenceofallclassesofreinsurance

Theemergenceofreinsuranceinmarinebusiness（BC700-1370）

Thedevelopmentoffirereinsurance（1591-1820）

Thedevelopmentoflifeassurance（1600annuity-1840）

Thedevelopmentofaccidentreinsurance（1850）

2.Emergenceofspecialistcompanies

◆WeselerreinsurancecompanyinGermany（1843）–Firstsubsidiaryspecialistreinsurancecompany

◆CologneReinsuranceCompanyinGermany（1852）

◆Thebiggestreinsurancecompanytoday-MunichRe（1880）

◆SwissReinsuranceCompany（1863）

FunctionsofReinsurance

1Capacity

Large-lineCapacity:

Aninsurer’sabilitytoprovideahighlimitofinsuranceforasinglerisk（lossexposure）,suchaspropertycoveragefora$50millioncommercialofficebuildingora$30millionjumbojet.

PremiumCapacity:

Theaggregatepremiumvolumeaprimaryinsurercanwrite.

Neithergrosswrittenpremiumnorlargeinsuredamountofapolicywrittenbyaninsurerwillshowtheitsgoodorpoorbusinessoperations.Bothcapacitiesareconstrainedregulationswithrespecttopolicyholder’ssurplus.

（Whycanreinsurancehelptoincreasecapacity?

）

Reinsurersprovideprimaryinsurerswithlargelinecapacitybyacceptingliabilityoflossexposuresthattheprimaryinsurerisunwillingorunabletoretain.Thisfunctionofreinsuranceallowsinsurerswithlimitedlargelinecapacitytoparticipatemorefullyintheinsurancemarketplace.Reinsuranceallowstheprimaryinsurertoincreaseitsmarketsharewhilelimitingthefinancialconsequencesofpotentiallosses.

中华人民共和国《保险法》（2002年10月28日修订）

S99:

经营财产险的保险公司当年自留保险费不得超过其实有资本金加公积金总和的4倍。

S100:

保险公司对每一危险单位，即对一次保险事故可能造成的最大损失范围所承担的责任，不得超过其实有资本金加公积金总和的10%，超过部分应当办理再保险。

（美国纽约州的规定亦同）

S101:

保险公司对危险单位的计算办法和巨灾风险安排计划应当报保险监督管理机构核准。

（当超过限制时，有三种方案：

1.不承保2.coinsurance3.reinsurance）

ProvidingLarge-lineCapacityandPremiumCapacity

Example:

◆AnewlyfoundedInsuranceCompany

◆NoUnearnedPremiumandOutstandingLossatthebeginningoftheyearwith$9minassets.

◆Attheendoftheyear,writtenpremiumof$20mwith$4macquisitioncostincurredand$10munearnedpremiumand$10moutstandingloss

◆ShowitsBalanceSheetatthebeginningoftheyear

◆ShowitsBalanceSheetattheendoftheyearinthecaseof

-noreinsuranceatall

-with75%quotasharetreatyof30%commission

andcomparetheRatioofPremiumtoPolicyholder’sSurplus

BalanceSheetattheBeginningoftheYear

AssetsLiabilities

9mO.L.0

U.P.0

P.S.9m

9m9m

BalanceSheetattheEndoftheYear

AssetsLiabilities

9mO.L.10m

20mU.P.10m

-4mP.S.5m

25m25m

Capacityratio=N.W.P/P.S.=20m/5m=4

BalanceSheetattheEndoftheYearwith75%QuotaShare