Currently, only 3 percent of owners use their captives to reinsure
based Archer Daniels Midland, the flour and grain company, to use its Vermont-based captive to reinsure
its group life insurance benefits written by Minnesota Life Insurance Co.
However, no one, including Ace, is reinsuring guaranteed minimum withdrawal benefits, he adds, and the reason is that the risk reinsurers would have to take for that guarantee would make it too expensive to reinsure
A PORC has historically defined a captive that reinsures
risk of another insurance company with the owner of the PORC producing the insurance risk that is reinsured into its captive.
Under terms of the agreement, Prudential would be able to reinsure
new policies written by yoei.
The notes, which reinsure
Gerling Global, are based on a "notional portfolio" that allows Gerling Global to update its exposure semiannually, the company said.
The African insurance market still reinsures
a large portion of the risks it writes locally to European reinsurers, mainly from England, France and Germany.
The EITF reached a consensus that to qualify for reinsurance contract accounting, a contract that reinsures
risks arising from short-duration insurance contracts must meet three conditions that relate to qualification as a short-duration contract, risk-transfer issues and the nature of the ultimate premium expected to be paid or received under the contract.
NATIONAL UNDERWRITER and the Reinsurance Section of the Society of Actuaries have compiled Who Reinsures
What, the most comprehensive and up-to-date directory of reinsurers in the life, health, annuities and accident lines of business.