Definition of ReinsuranceDefinition of Reinsurance Reinsurance is the shortest definition of as insurance of the insurer.. Insurance companies reinsurance in order not to have difficulty in paying the damages in case the major damages they provide collateral occur at the same time.
Functions of ReinsuranceFunctions of Reinsurance •Spread of risk •Increased capacity of the insurer to accept work •Increased flexibility of the insurer's acceptance of work •Supporting the financial structure of the insurance company •Control of natural disaster damage •Transfer of technical information from reinsurer to the insurer
General Principles of ReinsuranceGeneral Principles of Reinsurance •Insurable Benefit Principle •Maximum Goodwill Principle •Close Reason Principle •Compensation Principle •Succession Principle
Reinsurance MethodsReinsurance Methods 1) Share Reinsurance Agreement Kot-Par Reinsurance Agreement Transfer of each insured risk to the reinsurer at a predetermined rate. Exedan Agreement Transferring responsibilities exceeding the predetermined limit to the reinsurer.
Reinsurance MethodsReinsurance Methods 2) Non-Split Reinsurance Agreement The reinsurer is responsible for the damage payment if the amount of damage exceeds the predetermined limit.
Reinsurance MethodsReinsurance Methods 3) Excess Damage Reinsurance Agreement The difference from split reinsurance agreements is that it is an agreement for damage only. They are effective agreements for the protection of the insurance company, especially in catastrophic events. 4) Total Loss Surplus Reinsurance Agreement If the sum of all damages exceeds a predetermined rate, the excess portion is covered by the reinsurer.
Reinsurance in the WorldReinsurance in the World Reinsurance, due to its structure and function, should be regarded as predominantly an international transaction. The first global reinsurance institution is Lloyd Re. Founded in 1688 in London. As of 2018, the world's three largest reinsurers Swiss Re. Munich Re. Hannover Re. Id.
Reinsurance in TurkeyReinsurance in Turkey Reinsurance concept in Turkey, set in 1927 and repeated that reinsurance obligations are settled with the Law on Insurance No. 1160. The first reinsurance company established in Turkey in operation and under construction National Reinsurance T.A.Ş. Id. regulations and controls relating to reinsurance operations in Turkey engages in the Treasury.
REFERENCESREFERENCES Sigortacılıkta Klasik Reasürans Metotları ve Reasürans Piyasalarındaki Gelişmeler, P. Adalı, T.C. İstanbul Üniversitesi 1994 http://acikerisim.istanbul.edu.tr/bitstream/handle/123456789/13138/29332.pdf?sequence=1&isAllowed=y T.C. Başbakanlık Hazine Müsteşarlığı https://www.tsb.org.tr/images/Documents/2017-24%20Say_l_%20Genelge.pdf Milli Reasürans http://http://www.millire.com/Reasuror.html Türkiye Sigorta Birliği https://www.tsb.org.tr/reasurans.aspx?pageID=440 https://www.tsb.org.tr/reasurans-sirketleri.aspx?pageID=913