Reinsurance
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Reinsurance
Empowering your risk management strategy through expert reinsurance solutions with Bt International Services
What is Reinsurance
Our team provides various services, including treaty and facultative reinsurance, risk assessment and placement, and claims management. With a deep understanding of the industry, we help our clients minimize risks and maximize profits, providing tailored solutions to meet their unique needs. Essentially, the ceding company purchases insurance from the reinsurer to protect itself against losses that may arise from its insurance policies.
Reinsurance is a process by which an insurance company (known as the “Ceding Company”) transfers a portion of its risk to another insurance company (known as the “Reinsurer”). In exchange for assuming a portion of the risk, the reinsurer receives a part of the premiums collected by the ceding company. Reinsurance is a form of risk management that allows insurance companies to reduce their exposure to potential losses by transferring some of that risk to a reinsurer.
Facultative reinsurance
Facultative reinsurance is a coverage purchased by a primary insurer (ceding company) for an individual risk and is usually a one-time transaction. Reinsurer is not obliged to accept every or any submission.
Treaty reinsurance
Treaty reinsurance is a ceding mechanism where the ceding company agrees to cede certain types of risks that fall under the terms and conditions of the treaty agreement.
The reinsurer agrees to accept all risks in the treaty reinsurance contract even though it may not be able to underwrite each policy.
Types of Treaty Reinsurance
Proportional
Quota Share
Surplus
Non-Proportional
Excess of Loss Reinsurance
Stop Loss Reinsurance