What is a reinsurance portfolio?
Portfolio reinsurance, also known as assumption reinsurance, is a type of transaction in which one insurance company transfers a large number of its existing insurance policies to another.
What is a portfolio transfer in insurance?
With claims portfolio transfers, liability is passed from one reinsurer to another, the framework of rules simply being in accordance with the treaty; this contrasts with the rules relating to Lloyd’s reinsurance to close where the sole criteria is equity between the parties involved.
What are reinsurance premiums?
Reinsurance Premium — the premium paid by the ceding company to the reinsurer in consideration for the liability assumed by the reinsurer.
What is premium portfolio withdrawal?
Use. When a reinsurer enters a portfolio, it assumes the liability for risks that were already underwritten before its participation. When a reinsurer withdraws from a portfolio, it must repay the premiums collected but not yet earned.
What is a portfolio premium?
A portfolio entry accounts for unearned premiums from policies that are inactive during an accounting period, as well as unearned premiums that carry over into a future accounting period.
What is flow reinsurance?
‘Flow’ Reinsurance Reinsuring a quota share of future premiums (“flow transactions”) may enhance financial results in a number of ways. Athene Life Re partners with life companies to support their business by offering the following advantages: Maintains and/or increases sales of current and new products.
What is retroactive reinsurance?
Retroactive Reinsurance: Reinsurance in which an assuming entity agrees to reimburse a ceding entity for liabilities incurred as a result of past insurable events covered under contracts subject to the reinsurance. A reinsurance contract may include both prospective and retroactive reinsurance provisions.
What is facultative reinsurance?
Facultative reinsurance is reinsurance purchased by an insurer for a single risk or a defined package of risks. Usually a one-off transaction, it occurs whenever the reinsurance company insists on performing its own underwriting for some or all the policies to be reinsured.
What is reinsurance receivable?
Put simply, it’s the amount of money an insurer gets from a reinsurance company for claims it had to pay out to its clients. Some companies also refer to reinsurance recoverables as reinsurance receivables.
What is portfolio entry?
Portfolio entry is an alternative entry pathway to university. Instead of using your ATAR, you can create a portfolio of work that demonstrates your abilities and showcases your skills. It’s a great way to boost your chance of admission if your ATAR wasn’t quite high enough to receive an offer for your dream course.
