Rückversicherungsverträgen

Rückversicherungsverträgen, often translated as reinsurance contracts, are agreements between two insurance companies. The primary insurer, known as the ceding company, transfers a portion of its risk portfolio to a second insurance company, the reinsurer. This mechanism allows primary insurers to increase their underwriting capacity, protect themselves against catastrophic losses, and stabilize their financial results.

There are several types of Rückversicherungsverträgen. Facultative reinsurance involves the reinsurer considering each risk individually, offering greater flexibility but also a more administrative process. Treaty reinsurance, on the other hand, covers a specified class or portfolio of risks automatically, providing broader coverage and efficiency. Within treaty reinsurance, proportional treaties share premiums and losses in a predetermined ratio, while non-proportional treaties cover losses exceeding a certain threshold.

The primary purpose of a Rückversicherungsvertrag is risk management for the originating insurer. By diversifying its risk exposure across multiple reinsurers, the primary insurer can underwrite larger policies than its own capital might otherwise permit. It also acts as a buffer against unexpected and large claims, preventing insolvency. The reinsurer, in turn, earns premiums for assuming a portion of these risks. The terms and conditions of each Rückversicherungsvertrag are meticulously defined, outlining the scope of coverage, premium payments, claims handling, and other relevant clauses. These contracts are fundamental to the stability and operation of the global insurance industry.