Reinsurance is the business of insuring insurance policies so that direct insurers can manage their risk and limit their liabilities. Reinsurers often also use reinsurance to manage their own policy risks or to generate profit by insuring reinsured policies. This process is known as retrocession. Reinsurance is a global business because geographical risks can be minimised by spreading coverage across a variety of markets. As a result, insurers often purchase reinsurance coverage from offshore or alien reinsurers, or vice versa.
Companies in this industry specialise in assuming all or part of the risk associated with insurance policies underwritten by insurance companies. In other words, the primary business of participants in the industry is insuring insurance companies by taking on some of the risks they have assumed through their underwriting activities.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.