Jälleenvakuuttaja

Jälleenvakuuttaja is a Finnish term that translates to "reinsurer" in English. A reinsurer is an insurance company that provides insurance to other insurance companies, known as primary insurers. This practice is called reinsurance. Primary insurers purchase reinsurance to reduce their risk exposure, spread out their losses, and stabilize their earnings. Reinsurance can cover a wide range of risks, from catastrophic events like natural disasters to more specific types of coverage.

The concept of reinsurance allows primary insurers to take on larger or more complex risks than they would be able to handle on their own. By ceding a portion of their risk to a reinsurer, the primary insurer can maintain a stronger financial position and ensure their solvency. Reinsurance contracts can be structured in various ways, including proportional treaties, where the reinsurer shares a fixed percentage of premiums and losses, and non-proportional treaties, where the reinsurer pays only when losses exceed a certain threshold.

Reinsurers play a crucial role in the global insurance market. They absorb a significant amount of risk, which in turn helps to keep insurance premiums more affordable for consumers and businesses. Without reinsurers, the capacity of primary insurers to offer coverage would be severely limited, potentially leading to higher costs and a lack of available insurance for certain risks. The industry is complex and involves specialized knowledge of risk assessment, actuarial science, and financial management.