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How To Estimate Global Reinsurance Premiums
THE INSURANCE TIMES
|November 2019
Introduction: Global Direct Insurance Premium for 2018 is estimated as under
Life: USD 2820 Billion USD 5193
Non-Life: USD 2373 Billion Billion
Reinsurance Premiums according to Reinsurance Treaty Programs of each and every Insurance Companies are the basis on which Reinsurance Premium outgo per Insurance Company, per Country and per classified Advanced and Emerging Economies of countries in a zone are to be worked out. Again with Industrial Developments and Internet services with all kinds of Artificial Intelligence have made One World of all economies active-interactive and internationally connective.
Outside Reinsurance Treaty Programs, Facultative Reinsurances specific to a certain classes like CAR-EAR Risks, Industrial Property Risks, Oil-N-Energy Risks and Aviation and Space Risks are also in force.
Thus, Global Reinsurances Premiums comprises of per company, per country per Emerging/Advanced Economies Reinsurances by:
Proportional Reinsurance Treaties
Non-Proportional Treaties
Facultative Reinsurances both Proportional and NonProportional
Reinsurance of Cyber Risks with no specific Territorial Scope of Risks and as Cyber Risk Loss Events of Hacking Data happens by the interplay of Hackers of Any Country on Data Loss - Data Breach of any client anywhere in the world.
Alternative Reinsurance Technology Products of Financial Reinsurances and CAT Bonds by Securitizing of Risks through Risk Financing.
Interestingly, SIGMA Reports 3/2019 have shown a clear-cut way to have a fair reliable estimate of Global Reinsurance Premiums.
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