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Reinsurance

Index Reinsurance

Reinsurance is insurance that is purchased by an insurance company. [1]

27 relations: Actuarial reserves, Arbitrage, Assumption reinsurance, Capital (economics), Casualty insurance, Catastrophe bond, Catastrophe modeling, Commercial property, Commission (remuneration), Deductible, Econometrics, Economies of scale, Financial reinsurance, Game theory, Governance, Industry Loss Warranty, Insurance, International Society of Catastrophe Managers, Martin Shubik, Michael R. Powers, Property insurance, Reinsurance sidecar, Risk management, Securitization, Stop-loss insurance, Temple University, Yale University.

Actuarial reserves

An actuarial reserve is a liability equal to the actuarial present value of the future cash flows of a contingent event.

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Arbitrage

In economics and finance, arbitrage is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices.

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Assumption reinsurance

Assumption reinsurance is a form of reinsurance whereby the reinsurer is substituted for the ceding insurer and becomes directly liable for policy claims.

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Capital (economics)

In economics, capital consists of an asset that can enhance one's power to perform economically useful work.

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Casualty insurance

Casualty insurance is a problematically defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance.

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Catastrophe bond

Catastrophe bonds (also known as cat bonds) are risk-linked securities that transfer a specified set of risks from a sponsor to investors.

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Catastrophe modeling

Catastrophe modeling (also known as cat modeling) is the process of using computer-assisted calculations to estimate the losses that could be sustained due to a catastrophic event such as a hurricane or earthquake.

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Commercial property

The term commercial property (also called commercial real estate, investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income.

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Commission (remuneration)

The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people.

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Deductible

In an insurance policy, the deductible is the amount paid out of pocket by the policy holder before an insurance provider will pay any expenses.

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Econometrics

Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations.

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Economies of scale

In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by amount of output produced), with cost per unit of output decreasing with increasing scale.

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Financial reinsurance

Financial Reinsurance (or fin re), is a form of reinsurance which is focused more on capital management than on risk transfer.

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Game theory

Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers".

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Governance

Governance is all of the processes of governing, whether undertaken by a government, a market or a network, over a social system (family, tribe, formal or informal organization, a territory or across territories) and whether through the laws, norms, power or language of an organized society.

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Industry Loss Warranty

Industry Loss Warranties, often referred to as ILWs, are a type of reinsurance or derivative contract through which one party will purchase protection based on the total loss arising from an event to the entire insurance industry rather than their own losses.

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Insurance

Insurance is a means of protection from financial loss.

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International Society of Catastrophe Managers

The International Society of Catastrophe Managers (ISCM) is a professional association that promotes catastrophe management professionalism within the insurance industry.

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Martin Shubik

Martin Shubik (born March 24, 1926) is an American economist, who is Professor Emeritus of Mathematical Institutional Economics at Yale University.

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Michael R. Powers

Michael Roland Powers (born November 19, 1959) is the Zurich Group Professor of Risk Mathematics at Tsinghua University’s School of Economics and Management, where he holds a dual appointment in Tsinghua's Schwarzman Scholars program.

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Property insurance

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage.

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Reinsurance sidecar

Reinsurance sidecars, conventionally referred to as "sidecars", are financial structures that are created to allow investors to take on the risk and return of a group of insurance policies (a "book of business") written by an insurer or reinsurer (henceforth re/insurer) and earn the risk and return that arises from that business.

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Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

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Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs).

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Stop-loss insurance

Stop-loss insurance is insurance that protects insurers against large claims.

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Temple University

Temple University (Temple or TU) is a state-related research university located in the Cecil B. Moore neighborhood of Philadelphia, Pennsylvania, United States.

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Yale University

Yale University is an American private Ivy League research university in New Haven, Connecticut.

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References

[1] https://en.wikipedia.org/wiki/Reinsurance

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