Reinsurance

Bismarck’s greatest diplomatic achievement, the Reinsurance Treaty, was a treaty between Germany & Russia guaranteeing they would remain neutral in a war unless Germany attacked France or Russia attacked

5.1 Introduction Only one state-owned General Insurance Corporation operating in Bangladesh under the direct control and supervision of the ministry of the commerce, government of the people’s republic of Bangladesh is Sadharan Bima Corporation. It is now dealing with all classes of general insurance & re-insurance businesses in Bangladesh, emerged on 14th May, 1973 under the Insurance Corporation Act (Act No. VI) Of 1973. Sadharan Bima Corporation was acted as the sole insurer of general Insurance

American International Group, Inc. (AIG) is one of the top insurance carriers in the world. AIG was founded in Shanghai, China in 1919 as American Asiatic Underwriters (AAU) ("History - Insurance from AIG in the US”). The first office in the United States opened in New York City in 1926 ("History - Insurance from AIG in the US”). Throughout time, the company continued to expand across the globe, while relocating their headquarters to New York City from China. As of today, AIG has increased their

5. a) Business class C should not continue to be underwritten using the figures shown. This is because the class has resulted in a £25 million loss for the underwriting company. Total premium expenditure LOSS £125,000,000 – £150,000,000 = - £25,000,000 (shown in brackets on the account sheet as it’s a loss) b) To make an in depth analysis as to whether class C of business should continue to be written might require a look at the class over a number of years. The figures shown

Between 1 March and 6 May in the year 1998, Wilkie and Mainprize, on behalf of the company, arranged with General Cologne Reinsurance Australia, that they (FAI) would pay a premium of $67.5 million if they (General Cologne) would give back a reinsurance benefit of $65 million. Between 23 June and 26 June 1998, the same two executives made another deal with the same reinsurance company (General Cologne). This time FAI paid a premium of $89.7 million so that they could retain a benefit of $87 million

Act of 1934. The named defendants are AIG, C.V. Starr & Co., Inc., Starr International Inc., General Reinsurance Corporation and certain Individual Defendants. The complaint alleges that defendants made false statements and concealed material information concerning AIG's financial condition and accounting practices relating to, among other items, non-traditional insurance products, assumed reinsurance transactions, and use of affiliated entities for executive compensation. Plaintiff alleges that AIG

affected community or society to cope using its own resources.” Disaster risk is the combination of likelihood of a catastrophic event occurring; the exposure to the affected areas; and vulnerability of the affected communities or country (Global Reinsurance Forum, 2014). The impacts of disaster risk include not only loss of life and physical damages but also increase the potential outbreak of secondary hazards such as diseases and negative effect on physical, mental and social wellbeing of human being

liabilities and potential defenses The auditor that sanctioned the IPO ought to have known that under reinsurance accounting, losses incurred by ceded business should be recorded by the ceding insurer as an offset to the increase in its gross loss reserve in a amount equal to the reinsurance it expects to recover from the insurer yet in Converium's IPO prospectus Zurich Re purchased reinsurance from Inter-Ocean and ceded these liabilities to a Zurich entity. Had the auditing firm done its job perfectly

sectors are successfully implemented and used in country. Bermuda has made significant contributions to the Takaful and Re-takaful sector and specializes in the field of Islamic finance in country. Bermuda has earned its place as the largest offshore reinsurance and insurance domicile in the world that provides investors and business professionals with a platform to explore key Shariah- compliant insurance sector. The laws of Bermuda has made it easy for Takaful products structured as Mudarabah, Wakala

Only a few OECD countries, if any, are as dependent to such an extent on one single branch of activities as Luxembourg is on its financial services industry. Since years it has been the principal growth engine of the economy. It is not only fuelling employment, but also activities linked to corporate services. In the last decade, the dynamism of fiscal revenues coming from the sector contributed to financing the expansion of the public sector and a solid short term budget situation has been realised