Industry Analysis & Industry Trends
Reinsurance is the business of insuring insurance policies, as direct insurers look to effectively manage risk and limit liabilities. Additionally, reinsurers themselves often utilise reinsurance to manage their own policy risks or to generate profits by insuring reinsured policies. This process is known as retrocession. Reinsurance is global in nature, as geographical risks are minimised when coverage is spread across a variety of markets. As a result, insurers often purchase reinsurance coverage from offshore or alien reinsurers, or vice versa. Reinsurance is a critical part of the insurance business as it helps spread risk geographically and across product lines, providing the industry with additional stability... purchase to read more
Industry Report - Industry Locations Chapter
The geographical spread of reinsurers across the UK is similar to the dispersion of primary insurers, as insurance companies make up the majority of the industry's clientele. Both industries also have businesses that participate in both functions, meaning some primary insurers offer reinsurance coverage and vice versa. Also, some regions see very little presence due to the fact that reinsurers do not necessarily need to have a physical presence in all regions in which they offer their services due to the fact that they deal with insurance companies directly or use intermediaries. Brokers and agents are often used to attract business... purchase to read more