Reinsurance

Document description

The aims of the paper are:-1) To educate the profession generally and especially those students taking the new subject of general insurance, in the practical details of non-life reinsurance as it is currently conducted.2) To review a number of technical problems that lend themselves to actuarial techniques and where present practice is sometimes based on commercial rather than sound statistical considerations.3) To consider some problems other than those arising from stochastic fluctuations in numbers or amounts of claim.4) To review the special problem of reserving and the treatment of IBNR claims, and to review the methods used in fixing premium bases and scales.5) To consider the types of reinsurance cover needed by direct insurers or by reinsurers themselves (by way of retrocession) and means of testing whether the premiums and conditions asked give value for money.6) The presentation of the underlying concepts to non-actuaries in terms that they can understand.