再保险概述.综述汇编

1、Definitions：定义定义What Do These Words Mean?-这这些名词的意思是什么些名词的意思是什么Reinsurance : 再保险再保险nA form of insurance whereby one insurer (the reinsurer) indemnifies another insurer (the reinsured) for losses under insurance policies issued by the reinsured to the public.n再保险又称分保，指原保险人将自己承担的部分或全部保险合同责任分给再保险人。Cedin

2、g Company:分出人分出人A Primary Company:原保险人原保险人Direct Company:直接保险公司直接保险公司cedant , cedent , - all known as the “Reinsured” -再保险分出再保险分出人人Cede:When a company reinsures its liability with another, it “cedes” business -再保，分保，；割让；让与；放弃再保，分保，；割让；让与；放弃Ceded company:分入公司分入公司-the Company to whom the risk is trans

3、ferrednReinsurer: 再保险人，再保险接受人-An insurer or reinsurer assuming the risk of another under contract. nAssume：假定，承担，接受Three (Re)insurance Parties保险和再保险的当事人的关系保险和再保险的当事人的关系 Insurance ReinsuranceInsuredInsurerReinsuredCeding companyCedantReinsurerRetrocede:转分保转分保Retrocession: Reinsurance of Reinsurance-转

4、分保，分保的再次分保Retrocessionaire and Retrocedent: The parties to a RetrocessionRetrocessionaire：转分接受人；Retrocedent:转分保分出人Retention:自留额 Retention：自留额-The amount of risk not being reinsured Cession：分出额-The portion of the sum insured of a risk ceded to a reinsurer by the Cedant. Commission：佣金佣金n- In reinsuran

5、ce, the primary insurance company usually pays the reinsurer its proportion of the gross premium it receives on a risk. nThe reinsurer then allows the company a ceding or direct commission allowance on such gross premium received, large enough to reimburse the company for the commission paid to its

6、agents, plus taxes and its overhead. nThe amount of such allowance frequently determines profit or loss to the reinsurer.nReimburse：补偿；overhead：经营管理费用 Profit Commission盈余佣金，纯益手续费盈余佣金，纯益手续费n- A provision found in some reinsurance agreements which provides for profit sharing. nParties agree to a formu

7、la for calculating profit, an allowance for the reinsurers expenses, and the cedants share of such profit after expensesnFormula：公式nAllowance：津贴、定量供应、允许，补助historyThe origins of insurance nThe origins of insurance are lost in the mists of antiquity but from very early times various attempts were made

8、, initially in connection with ships and cargoes, to achieve a spreading of risk, which is the simple purpose of both insurance and reinsurance. nmists of antiquity：历史的迷雾nInitially：最初nSpread：分散，分布 MERCHANT UNDERWRITERS： 商人保险商商人保险商nIt is clear from all the early policies that the insurers were indivi

9、duals, and it seems probable that for a very long time insurance business was carried on not as a separate profession or business but as an adjunct of the operations of merchants. nIt is also clear that at an early date policies were subscribed or under-written by a number of such merchants for vary

10、ing amounts, much as is done at the present day on a more elaborate basis by Lloyds under-writers. nAdjunct：辅助；merchant：商人；商业的nElaborate：精细的EMERGENCE OF INSURANCE COMPANIES 保险公司的出现保险公司的出现nAn elementary form of fire insurance existed in the Middle Ages as one of the functions of the trade guilds: a l

11、evy was made on members to assist such of them as suffered damage to their property by fire. nHowever, there is no record of true fire insurance before the foundation in Christiania (Oslo) of the Norges Brandkasse in 1667.nguild：行业协会nLevy：征收，征用，征集EMERGENCE OF INSURANCE COMPANIES 保险公司的出现保险公司的出现nBy co

12、incidence in that same year, as a reaction to the Great Fire of London in 1666, Dr Nicholas Barbon is reported to have setup a business known as The Fire Office in the Cityof London to insure houses and other buildings against fire. nRecent researches, however, suggest that he only began to operate

13、in 1681. nCoincidence：同时存在的USE OF CO-INSURANCE FOR LARGE RISK 对大的风险进行共保的运用对大的风险进行共保的运用 nAs indicated above, the early development of insurance was by individuals as opposed to companies. nThis naturally led to the form of co-insurance which survives on such a large scale today at Lloyds, where indiv

14、idual risks are insured by many individuals for varying amounts aggregating to the total sum insured. nOpposed to：对立的nAggregate：总计，合计USE OF CO-INSURANCE FOR LARGE RISK 对大的风险进行共保的运用对大的风险进行共保的运用 nEven with the subsequent development of reinsurance the practice of co-insurance has continued. nAt Lloyds

15、 it continues to be the normal method of spreading individual risks, and with major industrial risks it is the usual pattern of operation to incorporate in the policy a schedule to which many insurance companies may have sub-scribed for their respective shares. nSubsequent：后来的nSchedule：表格，计划； patter

16、n：模式EMERGENCE OF REINSURANCE IN MARINE BUSINESS：再保险出现在海上保险业务上再保险出现在海上保险业务上nThe earliest record of a marine reinsurance relates to an insurance of a voyage from Genoa to Sluys.nThe reinsurance was effected not as a proportion of the whole risk but for the whole of the risk for that part of the voyage

17、 from Cadiz to Sluyss, which the original insurer clearly considered the more hazardous.nEffect：有效EMERGENCE OF REINSURANCE IN MARINE BUSINESS：再保险出现在海上保险业务上再保险出现在海上保险业务上nFrom this early and isolated example it may be assumed that as an occasional transaction the existence of marine reinsurance is alm

18、ost as old as insurance. However, there is little evidence of its actual practice.nThe earliest statutory reference to reinsurance was an Ordinance of Louis XIV in 1681.nStatutory：法律上的nReference：参考，提及DEVELOPMENT OF FIRE REINSURANCE 火灾再保险的发展火灾再保险的发展nFire reinsurance appears to have developed much lat

19、er than marine reinsurance, there being no trace of any fire reinsurance having taken place during the whole of the eighteenth century.nThe earliest record of a reinsurance is the assumption by the Eagle Fire Insurance Company of New York of the whole fire insurance portfolio of the Union Insurance

20、Company of New Jersey. nTrace：痕迹，迹象nAssumption：承担nPortfolio：公事包，部长职务，有价证券类DEVELOPMENT OF FIRE REINSURANCE 火灾再保险的发展火灾再保险的发展n临时再保险n合同再保险n超赔再保险 development of life reinsurance 人寿再保险的发展人寿再保险的发展nAs with fire insurance, when life insurance began no reinsurance was effected. Early examples of cover granted

21、 by merchant underwriters were on the familiar co-insurance basis. nThe absence of any indication of reinsurances suggests that, for many years after the formation of life assurance companies, individuals effected policies with a number of life offices if they required a sum insured too great for an

22、y one.n formation：形成，出现n a number of：大量的development of life reinsurance 人寿再保险的发展人寿再保险的发展nThe earliest indications of life reassurance are in the 1840s, after which it rapidly became a regular feature of the organization of all life assurance companies.nFeature：特点，特色特点，特色development of accident reins

23、urance 意外险再保险的发展 nThe development of accident insurance in all its many branches is so recent that accident re-insurance developed at the same time. nInitially, it was facultative reinsurance on a proportional basis for the early classes of business such as fidelity guarantee, personal accident and

24、livestock, with treaties gradually developing in the latter half of the nineteenth century. nFacultative：临时分保nfidelity guarantee：忠诚保证EMERGENCE OF SPECIALIST REINSURANCE COMPANIES：专业再保险公司的出现专业再保险公司的出现nThe earliest formation of a company for the exclusive acceptance of reinsurance was the Weseler ROck

25、versichemngsverein of Wesel in Germany, which was founded in 1843 as a subsidiary of a local insurance company, primarily for the acceptance of the surpluses of its parent company.nThe earliest formation of an independent reinsurance company was the Kolnischer R/Jckvers icherungs Gesellschaft of Col

26、ogne in 1852. nExclusive：纯粹的，绝对的nSubsidiary：附助的，附属的 STATE REINSURANCE CORPORATION 国家再保险公司的出现国家再保险公司的出现 nThe earliest examples of governmental involvement in reinsurance were in South America. nIn the early 1920s Chile established the Caja de Reaseguro, and Uruguay established the Banco del Estado. n

27、Initially these companies did not seek business beyond the local business which was compulsorily ceded to them, although they did trade their first surplus fire treaties reciprocally. nChile：智利； Uruguay：乌拉圭nCompulsorily：强制的； trade：交换n reciprocally：相互的，互惠的STATE REINSURANCE CORPORATION 国家再保险公司的出现国家再保险

28、公司的出现nIn the post-war reconstruction of France all companies were required to cede four per cent of their direct business to Caisse Centrale de Reassurance. REGIONAL REINSURANCE CORPORATION 地区再保险公司的出现地区再保险公司的出现nIn the 1970s yet another intervention was made by governments in the form of regional rei

29、nsurance corporations. nThe most significant of these to date have been the Asian Reinsurance Corporation and the African Reinsurance Corporation. nThe latter is the most comprehensive with a five per cent compulsory cession of all the reinsurances of all the insurance companies in forty-two countri

30、es in Africa. nComprehensive：充分的，广泛的REGIONAL REINSURANCE CORPORATION 地区再保险公司的出现地区再保险公司的出现nThis form of corporation, and the extension of state reinsurance corporations, have been actively encouraged by UNCTAD; the United Nations Conference on Trade and Development. nThe idea behind all these state c

31、orporations is to endeavour to reduce the drain on foreign exchange resources resulting from the reinsurances of local companies being ceded to foreign insurance and reinsurance companies. nEndeavour：尽力； drain：排干，流失 REINSURANCE POOLS 再保险基金再保险基金nAt various times in many countries pools have been form

32、ed to deal with various types of reinsurance. nFrequently they are created to deal with what is regarded as an undesirable or hazardous class of business. nThe method has, for example, been used for third party motor insurance and hail insurance. nUndesirable：令人不快的REINSURANCE POOLS 再保险基金再保险基金nA few

33、such pools have lasted many years but more frequently they are not enduring. nThe usual problem is that when the pool has been operating for a few years it becomes apparent that the results of some companies are consistently worse than the average. The companies with the better experience decide tha

34、t they can continue to underwrite more successfully than the average, and can therefore improve their profits by leaving the pool and making their own reinsurance arrangements. nApparent：明显的明显的REINSURANCE POOLS 再保险基金再保险基金nAn interesting example of a more enduring type of pool is the series of pools

35、that have been developed, in those countries where atomic power stations have been built, to deal with the vast values and potentially catastrophic liabilities which are involved. nAnother project sponsored by UNCTAD is regional reinsurance pools. nSponsored：发起，主办； REINSURANCE BROKERS 再保险经纪人再保险经纪人n

36、The earliest known instance of the operation of a reinsurance broker goes back to the very beginning of treaty reinsurance. nIn 1829 a Mr Cazenove of Broad Street Buildings, London offered a fire treaty from Union de Paris to the Royal Exchange. nOffer：提供，出价nIt seems likely that the early operations

37、 of re-insurance brokers were in organising reciprocal exchanges of fire reinsurance. REINSURANCE BROKERS 再保险经纪人再保险经纪人nIt is difficult to believe that no other instances existed, but there appears to be no record of other reinsurance broking until nearly 1870. nA Mr Martin Heckscher had established

38、a business in 1865 as agent in St Petersburg for the Commercial Union, Liverpool & London and a number of other companies.n As he was subsequently involved in reinsurance in London he probably negotiated treaties in Russia, but no record remains. nNegotiate：谈判，磋商LLOYDS ：劳合社劳合社nThere is no clear reco

39、rd of the early involvement of Lloyds in the acceptance of reinsurance. It was not in fact a pattern of business which came naturally to Lloyds.n The underwriters themselves had always been used to the system of each accepting the amount on a risk which was appropriate for him-self, with the broker

40、spreading the original risk through the market. nThis and the fact that the Lloyds market was virtually limited to marine insurance, in which reinsurance was illegal until 1864, made Lloyds late developers in this field. LONDON REINSURANCE MARKET 伦敦再保险市场伦敦再保险市场n It has already been shown that reinsu

41、rance itself began to develop earlier in Europe than in Britain. nIt is clear that in no way could London be regarded as a significant reinsurance market at any time in the nineteenth century, and most of the reinsurance of the British direct insurers was placed in Europe.nThis situation persisted u

42、p to the outbreak of the First World War in 1914. Nature：属性n再保险是补偿性质的保险再保险是补偿性质的保险n再保险和原保险的关系再保险和原保险的关系n再保险和共同保险的关系再保险和共同保险的关系Difference from Primary InsurancenA. Reinsurance tends to be less regulated. nB. More internationally oriented. nC. Transactions of large monetary value and risk. nD. Reinsur

43、er relies on the reinsured to produce proper underwriting at proper rates. nE. Right to inspect records of the reinsured nF. Utmost good faith nG. Relies on reinsured to produce a profitable book of business. nOriented:导向的； relies on ：依靠再保险与原保险的联系再保险与原保险的联系n再保险与原保险既有联系又有区别。再保险与原保险既有联系又有区别。n二者的二者的主要联

44、系主要联系在于：都是对风险责任的分在于：都是对风险责任的分散。散。n原保险原保险是对投保人的风险责任予以分散，是是对投保人的风险责任予以分散，是对风险的对风险的第一次转嫁第一次转嫁；n再保险再保险是对保险人的风险责任予以分散，也是对保险人的风险责任予以分散，也可以说，再保险是对风险可以说，再保险是对风险第二次转嫁第二次转嫁。 再保险与原保险的主要区别再保险与原保险的主要区别n1 1、合同当事人不同。、合同当事人不同。n原保险合同的双方当事人是投保人和保险人；原保险合同的双方当事人是投保人和保险人；n再保险合同的双方当事人都是保险人，即分再保险合同的双方当事人都是保险人，即分出人与分入人，与原投

45、保人无关。出人与分入人，与原投保人无关。再保险与原保险的主要区别再保险与原保险的主要区别n2 2保险保险标的标的不同。不同。n原保险合同的保险标的是被保险人的财原保险合同的保险标的是被保险人的财产或人身，或者具体为被保险人的财产产或人身，或者具体为被保险人的财产及有关利益或者人的寿命和身体；及有关利益或者人的寿命和身体；n而再保险合同的保险标的是而再保险合同的保险标的是原保险人分原保险人分出的责任出的责任，分出人将原保险的保险业务，分出人将原保险的保险业务部分地转移给分入人。部分地转移给分入人。再保险与原保险的主要区别再保险与原保险的主要区别n3 3保险合同的保险合同的性质性质不同。不同。n原

46、保险合同具有原保险合同具有经济补偿性或者经济补偿性或者保险金给付性保险金给付性；n而再保险合同具有而再保险合同具有责任分摊性责任分摊性，或补充性。其直接目的是要对原或补充性。其直接目的是要对原保险人的承保责任进行分摊。保险人的承保责任进行分摊。 原保险契约与再保险契约之关系图 危险危险被保险人分保分保自留自留保险人分入分入再保险人原保险契约原保险契约再保险契约再保险契约 原保险契约与再保险契约之关系原保险契约与再保险契约之关系 n个别独立法律观点个别独立法律观点n1. 1. 原保险契约之被保险人，对于再保险人无赔偿原保险契约之被保险人，对于再保险人无赔偿请求权。请求权。n2. 2. 再保险人不

47、得向原保险契约之要保人，请求支再保险人不得向原保险契约之要保人，请求支付保险费。付保险费。n3. 3. 原保险人不得以再保险人不履行保险金给付之原保险人不得以再保险人不履行保险金给付之义务为理由，而拒绝或延迟其对于被保险人之义义务为理由，而拒绝或延迟其对于被保险人之义务。务。n相互依存业务观点相互依存业务观点 再保险和共同保险再保险和共同保险n共同保险共同保险：指几个保险人，就同一保险利益、：指几个保险人，就同一保险利益、同一风险共同缔结保险合同的一种保险。同一风险共同缔结保险合同的一种保险。n在实务中，数个保险人可能以某一家保险公司在实务中，数个保险人可能以某一家保险公司的名义签发一张保险单

48、，然后每一家保险公司的名义签发一张保险单，然后每一家保险公司对保险事故损失按比例分担责任。对保险事故损失按比例分担责任。n共保联营共保联营与再保险虽有不同，但在今日保险市与再保险虽有不同，但在今日保险市场，共保联营与再保险之场，共保联营与再保险之结合运用结合运用，已屡见不，已屡见不鲜。鲜。 再保险和共同保险的区别再保险和共同保险的区别n（1 1）反映的）反映的保险关系保险关系不同。不同。n共同保险共同保险反映的是各保险人与投保人之间的关系，反映的是各保险人与投保人之间的关系，这种关系是一种直接的法律关系；这种关系是一种直接的法律关系；n再保险再保险反映的是原保险人与再保险人之间的关系，反映的是

49、原保险人与再保险人之间的关系，再保险接受人与原投保人之间并不发生直接的关系。再保险接受人与原投保人之间并不发生直接的关系。n（2 2）对风险的分摊方式对风险的分摊方式不同。不同。n共同保险共同保险的各保险公司对其承担风险责任的分摊是的各保险公司对其承担风险责任的分摊是第一次分摊，而第一次分摊，而再保险再保险则是对风险责任进行的第二则是对风险责任进行的第二次分摊；次分摊；n共同保险共同保险是风险的横向分摊，是风险的横向分摊，再保险再保险则为风险的纵则为风险的纵向分摊。向分摊。共同保险（共保联营）的关系图共同保险（共保联营）的关系图甲保甲保险险公司公司丁保丁保险险公司公司丙保丙保险险公司公司R I

50、 S K乙保乙保险险公司公司Function of ReinsurancenThe fundamental concept of insurance is the spreading of risk based on the law of large numbers. n Reinsurance does not reduce losses but it makes it easier for insurance to carry the material consequences.nMaterial：重大的，重要的再保险的作用再保险的作用n1 1分散风险。分散风险。n再保险是原保险人能够借以

51、分散风险损再保险是原保险人能够借以分散风险损失的机制。失的机制。再保险的作用再保险的作用n2 2扩大承保能力。扩大承保能力。n任何一个保险人，都希望承保量尽可能任何一个保险人，都希望承保量尽可能地多，但保险人的承保能力都受很多条地多，但保险人的承保能力都受很多条件的限制，尤其为资本金和公积金等制件的限制，尤其为资本金和公积金等制约。约。n但由于业务量的计算不包括分保费，保但由于业务量的计算不包括分保费，保险公司可以在不增加资本额的情况下通险公司可以在不增加资本额的情况下通过再保险增加业务量，扩大承保能力。过再保险增加业务量，扩大承保能力。再保险的作用再保险的作用 n3 3控制责任，稳定经营。控

52、制责任，稳定经营。n再保险通过控制风险责任使保险经营得再保险通过控制风险责任使保险经营得以稳定。以稳定。n具体作法分两个方面：具体作法分两个方面：n一是控制每一风险单位的责任；一是控制每一风险单位的责任；n二是对累积责任的控制。二是对累积责任的控制。再保险的作用再保险的作用n4 4、降低营业费用，增加运用资金。、降低营业费用，增加运用资金。n如果保险人在提存未满期保费准备金时，根据保险如果保险人在提存未满期保费准备金时，根据保险法规定不能扣除营业费用的话，就必须以保险资金法规定不能扣除营业费用的话，就必须以保险资金中另外支取营业费用。但通过再保险，就可以在分中另外支取营业费用。但通过再保险，就

53、可以在分保费中扣存未满期保费准备金，还可以有分保佣金保费中扣存未满期保费准备金，还可以有分保佣金收入。这样，保险人由于办理分保，摊回了一部分收入。这样，保险人由于办理分保，摊回了一部分营业费用。营业费用。n此外，办理分保须提未满期保费准备金和未决赔款此外，办理分保须提未满期保费准备金和未决赔款准备金，这部分资金从提取到支付有一段时间，保准备金，这部分资金从提取到支付有一段时间，保险人可在这段时间内加以运用，从而增加了保险人险人可在这段时间内加以运用，从而增加了保险人资金运用总量。资金运用总量。再保险的作用再保险的作用n5 5有利于拓展新业务。有利于拓展新业务。n保险人在涉及新业务过程中，由于经

54、验保险人在涉及新业务过程中，由于经验的不足，往往十分谨慎，不利于新业务的不足，往往十分谨慎，不利于新业务的迅速开展。再保险具有控制责任的特的迅速开展。再保险具有控制责任的特性，可以使保险人通过分保使自己的赔性，可以使保险人通过分保使自己的赔付率维持在某一水平之下，所以准备拓付率维持在某一水平之下，所以准备拓展新业务的保险公司可以放下顾虑，积展新业务的保险公司可以放下顾虑，积极运作，使很多新业务得以发展起来。极运作，使很多新业务得以发展起来。Function of ReinsuranceStabilization of profitability Provides large limit cap

55、acity Catastrophe protection Supports high growth in premium volume Provides help with the underwriting process nFacilitates withdrawal from a particular risk or line of business Stabilization of profitability增强盈利能力增强盈利能力nAs captive owners and risk managers know, losses incurred sometimes fluctuate

56、widely from year to year. Large swings in losses incurred can make it difficult, if not impossible, to forecast profitability of a particular line of business, or in total. nWhile showing profitability in a pure captive may not be as critical as it is to say, a risk retention group or commercial ins

57、urer, most business owners like to see a reasonably steady flow of profits to protect their capital and surplus and to support growth, if necessary. n fluctuate ：摇摆的；摇摆的； surplus：盈余盈余Stabilization of profitability增强盈利能力增强盈利能力nPurchasing reinsurance is particularly helpful in smoothing the peaks and

58、valleys of a captives loss experience, as generally the law of large numbers doesnt apply to captive operations.nCaptive：自保的，被俘获的自保的，被俘获的napply to：应用于应用于Provides large limit capacity扩大承保能力扩大承保能力nCaptives frequently provide a high limit of insurance on one or a limited number of policies. nFor exampl

59、e, a hospital captive may wish to insure the excess professional liability exposure of its parent. nA captives capacity for retaining such coverage is limited by capital and surplus, regulatory and other factors.n Partnering with a reinsurer to accept a particularly high risk allows the captive to p

60、rovide lines of coverage and limits that would otherwise not be feasible. Catastrophe protection巨灾保障巨灾保障nCaptives insure property-liability coverages which are frequently concentrated in geographic or economic regions. nCatastrophic exposures such as hurricanes, industrial explosions or the like can