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Insurance Market Players
Transcript of Insurance Market Players
The percentage of an industry or market's total sales that is earned by a particular company over a specified time period.
A corporate body that is made up of a collection of syndicates.
Operate primarily in the market for specialist insurance.
Fill a gap where private insurers have not provided coverage.
Why? - The exposure does not adequately meet the requisites for private insurance
An insurance company which is collectively owned by its members & which acts in the best interest of its members.
Best possible returns & services.
Not to make profits or provide a return on capital.
Direct life insurers are registered to write life policies as well as long and short-term accident and health policies.
Life insurance companies sell promises (life insurance is an intangible product). An insurance policy is a proof of this promise. Therefore, credibility is the foundation of the business of an insurance company.
Investment policy is also constrained by legislation.
Insurance for insurance company.
Game theory - The number of active reinsurers in a given national market should be approximately equal to the square-root of the number of primary insurers active in the same market.
Direct general insurers are registered to write all insurance business other than life-insurance policies.
Non-life companies often have large levels of free reserves that have to be invested.
Composite of Life and General Insurance
Direct composite insurers are registered to conduct both life and general insurance businesses.
In-house insurance company.
To provide the necessary coverage of acceptable prices and for various good economic reasons.
Risk Retention Group.
Functions of a reinsurance company
Enlarge the insurer's underwriting capacity.
Increase the amount of capital available to insurer.
Licensed Reinsurance Business in Malaysia
Malaysian Life Reinsurance Group Berhad
Asia Capital Reinsurance Malaysia Sdn. Bhd.
Malaysian Reinsurance Berhad
Swiss Reinsurance Company F
The Toa Reinsurance Company Ltd.
Life and General
Hannover Rueck SE
ACR Retakaful Berhad
MNRB Retakaful Berhad
Munchener Ruckversicherungs-Gesellschaft (Munich Re Retakaful)
Swiss Reinsurance Company Ltd. (Swiss Re Retakaful)