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.
This story is from the November 2019 edition of THE INSURANCE TIMES.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2019 edition of THE INSURANCE TIMES.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Interview: Johnson Varughese Chief Executive Officer WALAA Insurance Company Al-Khobar, Kingdom of Saudi Arabia
\"Establishment of the IA will accelerate the growth of the Insurance Sector as the Industry will now get focused attention. The strategy of IA is likely to be aligned with Vision 2030 and Financial Sector Development plan. Since savings is one of the pillars of Vision 2030, I hope to see a lot of emphasis on Protection and Savings Insurance Products.\"
IRDAI Corner
Investments in Infrastructure Debt Funds - NBFC
2023 was a watershed year for insurance sector, but there's more to come
Innovation in regulatory framework, promotion of ease of doing business while enhancing protection of policyholders’ interests and measures taken to expand the reach of insurance penetration make 2023 a year to remember in the insurance industry.
The Future of Insurance: ESG as a Cornerstone of Sustainable Underwriting
As climate change, social inequality, and governance issues become increasingly prominent, insurers are recognizing the need to integrate Environmental, Social, and Governance ESG) factors into their underwriting processes. This shift not only aligns with global efforts to address pressing issues but also positions the insurance industry as a key player in promoting sustainability and a fraternity who is concerned about their ESG goals.
Cancer Insurance - An Indispensible cover
Recent advances in cancer treatment have opened new treatment options, such as targeted therapy and immunotherapy, for people diagnosed with advanced-stage disease. However, these advanced treatments are costly and remain out of reach of many.
Emerging Horizons: New Opportunities in Commercial General Insurance Segment
The Indian economy continues to be a beacon of growth and opportunity, attracting both domestic and foreign investments across various sectors. The country's economic reforms and ease of doing business initiatives have further improved the investment climate, fostering entrepreneurial spirit and innovation.
Interview: Dr Tarun Agarwal Director National Insurance Academy, Pune
\"National Insurance Academy is undoubtedly the most renowned institution not just in India, but internationally. We are an apex institution in the field of education, training, research and consultancy in insurance, pension and allied areas.\"
Historical Maritime Fraud
M.V B-Atlantic - War Risk Cover: An Insurer’s Dilemma or Fraud!!
Navigating the natural conundrum: Why Reinsurers continue to maintain positive outlook for non life Insurance market in asia pacific region in 2024 & beyond despite challenges posed by natural hazards
The Asia-Pacific region has long been susceptible to a range of natural hazards, including earthquakes, typhoons, floods, and tsunamis. These events pose significant challenges to the insurance industry, particularly the non-life insurance sector, which covers property, casualty, and other general insurance lines.
Trust with Law
Khaitan Legal Associates' website succinctly proclaims, \"We are a value-driven law firm.