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L N COLLEGE OF MANAGEMENT & TECHNOLOGY

L N COLLEGE OF MANAGEMENT & TECHNOLOGY. Reinsurance: Insurance to Insurers'. Presented By:- Piyush Goyal (11). Guided By:- Prof. Mrs. Sucheta Pawar. DEFINITONS. INSURANCE.

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L N COLLEGE OF MANAGEMENT & TECHNOLOGY

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  1. L N COLLEGE OF MANAGEMENT & TECHNOLOGY Reinsurance: Insurance to Insurers' Presented By:- Piyush Goyal (11) Guided By:- Prof. Mrs. Sucheta Pawar Reinsurance: Insurance to Insurers'

  2. DEFINITONS INSURANCE • Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. RE-INSURANCE Reinsurance: Insurance to Insurers'

  3. HISTORY • Achener Ruck in 1852 Reinsurance: Insurance to Insurers'

  4. Reinsurance: Insurance to Insurers'

  5. Types Of Reinsurance • Treaty • Facultative • Retrocession Reinsurance: Insurance to Insurers'

  6. Reinsurance Treaty Facultative Non-Proportional Proportional Reinsurance: Insurance to Insurers'

  7. Reinsurance: Insurance to Insurers'

  8. Reinsurance In India • GIC only Reinsurer • Min. of 10% reinsured with GIC • Insurer to maintain Max. Retention • Inter company cession between four PSU Reinsurance: Insurance to Insurers'

  9. Top 10 Reinsurers of the World Reinsurance: Insurance to Insurers'

  10. Government Regulations • The Insurance Act, 1938 • Insurance Regulatory and Development Authority (IRDA) Act, 1999 • 26% FDI • Min. 200Cr Paid up capital • Regulated by IRDA Reinsurance: Insurance to Insurers'

  11. Suggestions • Increase FDI • Deregulate Market Completely • Amendments in Insurance acts • Market forces form Policies • Minimise Formalities Reinsurance: Insurance to Insurers'

  12. Reinsurance: Insurance to Insurers'

  13. Setbacks to the Industry • Earthquakes • Tsunami • Floods • Hurricanes • Terrorist Attacks Reinsurance: Insurance to Insurers'

  14. Reinsurance: Insurance to Insurers'

  15. Reinsurance: Insurance to Insurers'

  16. Distribution Under writing Operations Investment management Players Regulator Customer awareness Regulations • Increase customer awareness • Product design and product coverage • Extend reach • Consistency & stability • Support information • Consumer awareness Reinsurer Government Industry bodies Infrastructure • Property rights • Information • Increase customer awareness • Information Reinsurance: Insurance to Insurers'

  17. I WANT INSURANCE DONT Reinsurance: Insurance to Insurers'

  18. Thank You Questions & Suggestions Reinsurance: Insurance to Insurers'

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