Loss Portfolios: Financial Reinsurance
Steeneck, Lee R.
Casualty Actuarial Society Discussion Paper Program Casualty Actuarial Society - Arlington, Virginia
The property-casualty insurance operating environment has changed dramatically. Total return is more a function of investment results than ever before. Competition has pressured rate levels. And more of our business is becoming "long tail", making reserving difficult. Reinsurance is becoming somewhat more financially oriented. Loss portfolio transfer reinsurance is becoming popular for a variety of reasons, not the least of which involves poor operating results. In this paper I explore the business purposes loss portfolio transfers serve (and costs), the legal, secretarial, tax and accounting aspects, and contractual an pricing considerations. Reinsurance Research - Pricing/Contract Design
- Actuarial Applications and Methodologies > Reserving > Ceded Reinsurance
- Actuarial Applications and Methodologies > Reserving > Discounting of Reserves
- Business Areas > Reinsurance > Finite Risk