再保險概述.綜述(1)完整版

1、 Definitions：定義定義 What Do These Words Mean?-這這 些名詞的意思是什么些名詞的意思是什么 Reinsurance : 再保險再保險 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再保險又稱分保，指原保險人將自己承擔的 部分或全部保險合同責任分給再保險

2、人。 Ceding Company:分出人分出人 A Primary Company:原保險人原保險人 Direct Company:直接保險公司直接保險公司 cedant , cedent , - all known as the “Reinsured” -再保險分出再保險分出 人人 Cede: When a company reinsures its liability with another, it “cedes” business - 再保，分保，；割讓；讓與；放棄再保，分保，；割讓；讓與；放棄 Ceded company:分入公司分入公司 -the Company to whom

3、the risk is transferred nReinsurer: 再保險人，再保險接受人 -An insurer or reinsurer assuming the risk of another under contract. nAssume：假定，承擔，接受 Three (Re)insurance Parties 保險和再保險的當事人的關系保險和再保險的當事人的關系 Insurance Reinsurance InsuredInsurer Reinsured Ceding company Cedant Reinsurer Retrocede:轉分保轉分保 Retrocession:

4、Reinsurance of Reinsurance -轉分保，分保的再次分保 Retrocessionaire and Retrocedent: The parties to a Retrocession Retrocessionaire：轉分接受人； Retrocedent:轉分保分出人 Retention:自留額 Retention：自留額 -The amount of risk not being reinsured Cession：分出額 -The portion of the sum insured of a risk ceded to a reinsurer by the Ced

5、ant. Commission：傭金傭金 n- In reinsurance, 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 com

6、pany for the commission paid to its agents, plus taxes and its overhead. nThe amount of such allowance frequently determines profit or loss to the reinsurer. nReimburse：補償；overhead：經營管理費用 Profit Commission 盈余傭金，純益手續(xù)費盈余傭金，純益手續(xù)費 n- A provision found in some reinsurance agreements which provides for pr

7、ofit sharing. nParties agree to a formula for calculating profit, an allowance for the reinsurers expenses, and the cedants share of such profit after expenses nFormula：公式 nAllowance：津貼、定量供應、允許，補助 history The origins of insurance nThe origins of insurance are lost in the mists of antiquity but from

8、very early times various attempts were made, 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：歷史的迷霧 nInitially：最初 nSpread：分散，分布 MERCHANT UNDERWRITERS： 商人保險商商人保險商 nIt is clear from all th

9、e early policies that the insurers were individuals, 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-

10、written by a number of such merchants for varying amounts, much as is done at the present day on a more elaborate basis by Lloyds under- writers. nAdjunct：輔助；merchant：商人；商業(yè)的 nElaborate：精細的 EMERGENCE OF INSURANCE COMPANIES 保險公司的出現保險公司的出現 nAn elementary form of fire insurance existed in the Middle Age

11、s as one of the functions of the trade guilds: a levy 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：行業(yè)協(xié)會 nLevy：征收，征用，征集

12、EMERGENCE OF INSURANCE COMPANIES 保險公司的出現保險公司的出現 nBy coincidence 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 resea

13、rches, however, suggest that he only began to operate in 1681. nCoincidence：同時存在的 USE OF CO-INSURANCE FOR LARGE RISK 對大的風險進行共保的運用對大的風險進行共保的運用 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 surv

14、ives on such a large scale today at Lloyds, where individual risks are insured by many individuals for varying amounts aggregating to the total sum insured. nOpposed to：對立的 nAggregate：總計，合計 USE OF CO-INSURANCE FOR LARGE RISK 對大的風險進行共保的運用對大的風險進行共保的運用 nEven with the subsequent development of reinsuran

15、ce the practice of co-insurance has continued. nAt Lloyds 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

16、respective shares. nSubsequent：后來的 nSchedule：表格，計劃； pattern：模式 EMERGENCE OF REINSURANCE IN MARINE BUSINESS：再保險出現在海上保險業(yè)務上再保險出現在海上保險業(yè)務上 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 r

17、isk but for the whole of the risk for that part of the voyage from Cadiz to Sluyss, which the original insurer clearly considered the more hazardous. nEffect：有效 EMERGENCE OF REINSURANCE IN MARINE BUSINESS：再保險出現在海上保險業(yè)務上再保險出現在海上保險業(yè)務上 nFrom this early and isolated example it may be assumed that as an o

18、ccasional transaction the existence of marine reinsurance is almost 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：參考，提及 DEVELOPMENT OF FIRE REINSURANCE

19、火災再保險的發(fā)展火災再保險的發(fā)展 nFire reinsurance appears to have developed much later 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

20、New York of the whole fire insurance portfolio of the Union Insurance Company of New Jersey. nTrace：痕跡，跡象 nAssumption：承擔 nPortfolio：公事包，部長職務，有價證券類 DEVELOPMENT OF FIRE REINSURANCE 火災再保險的發(fā)展火災再保險的發(fā)展 n臨時再保險 n合同再保險 n超賠再保險 development of life reinsurance 人壽再保險的發(fā)展人壽再保險的發(fā)展 nAs with fire insurance, when life

21、 insurance began no reinsurance was effected. Early examples of cover granted 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

22、with a number of life offices if they required a sum insured too great for any one. n formation：形成，出現 n a number of：大量的 development of life reinsurance 人壽再保險的發(fā)展人壽再保險的發(fā)展 nThe earliest indications of life reassurance are in the 1840s, after which it rapidly became a regular feature of the organization

23、 of all life assurance companies. nFeature：特點，特色特點，特色 development of accident reinsurance 意外險再保險的發(fā)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

24、for the early classes of business such as fidelity guarantee, personal accident and livestock, with treaties gradually developing in the latter half of the nineteenth century. nFacultative：臨時分保 nfidelity guarantee：忠誠保證 EMERGENCE OF SPECIALIST REINSURANCE COMPANIES：專業(yè)再保險公司的出現專業(yè)再保險公司的出現 nThe earliest

25、formation of a company for the exclusive acceptance of reinsurance was the Weseler ROckversichemngsverein 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 in

26、dependent reinsurance company was the Kolnischer R/Jckvers icherungs Gesellschaft of Cologne in 1852. nExclusive：純粹的，絕對的 nSubsidiary：附助的，附屬的 STATE REINSURANCE CORPORATION 國家再保險公司的出現國家再保險公司的出現 nThe earliest examples of governmental involvement in reinsurance were in South America. nIn the early 1920s

27、 Chile established the Caja de Reaseguro, and Uruguay established the Banco del Estado. nInitially 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：烏拉圭 nCom

28、pulsorily：強制的； trade：交換 n reciprocally：相互的，互惠的 STATE REINSURANCE CORPORATION 國家再保險公司的出現國家再保險公司的出現 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 地區(qū)再保險公司的出現地區(qū)再保險公司

29、的出現 nIn the 1970s yet another intervention was made by governments in the form of regional reinsurance 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

30、compulsory cession of all the reinsurances of all the insurance companies in forty-two countries in Africa. nComprehensive：充分的，廣泛的 REGIONAL REINSURANCE CORPORATION 地區(qū)再保險公司的出現地區(qū)再保險公司的出現 nThis form of corporation, and the extension of state reinsurance corporations, have been actively encouraged by UN

31、CTAD; the United Nations Conference on Trade and Development. nThe idea behind all these state corporations 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：盡力；

32、drain：排干，流失 REINSURANCE POOLS 再保險基金再保險基金 nAt various times in many countries pools have been formed 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 thir

33、d party motor insurance and hail insurance. nUndesirable：令人不快的 REINSURANCE POOLS 再保險基金再保險基金 nA few 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 com

34、panies are consistently worse than the average. The companies with the better experience decide that 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：明顯的明顯的 REINSUR

35、ANCE POOLS 再保險基金再保險基金 nAn interesting example of a more enduring type of pool is the series of pools 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 sp

36、onsored by UNCTAD is regional reinsurance pools. nSponsored：發(fā)起，主辦； REINSURANCE BROKERS 再保險經紀人再保險經紀人 n 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 tr

37、eaty from Union de Paris to the Royal Exchange. nOffer：提供，出價 nIt seems likely that the early operations of re- insurance brokers were in organising reciprocal exchanges of fire reinsurance. REINSURANCE BROKERS 再保險經紀人再保險經紀人 nIt is difficult to believe that no other instances existed, but there appear

38、s to be no record of other reinsurance broking until nearly 1870. nA Mr Martin Heckscher had established 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 n

39、egotiated treaties in Russia, but no record remains. nNegotiate：談判，磋商 LLOYDS ：勞合社勞合社 nThere is no clear record 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 u

40、sed to the system of each accepting the amount on a risk which was appropriate for him-self, with the broker 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 l

41、ate developers in this field. LONDON REINSURANCE MARKET 倫敦再保險市場倫敦再保險市場 n It has already been shown that reinsurance 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 centur

42、y, and most of the reinsurance of the British direct insurers was placed in Europe. nThis situation persisted up to the outbreak of the First World War in 1914. Nature：屬性 n再保險是補償性質的保險再保險是補償性質的保險 n再保險和原保險的關系再保險和原保險的關系 n再保險和共同保險的關系再保險和共同保險的關系 Difference from Primary Insurance nA. Reinsurance tends to

43、be less regulated. nB. More internationally oriented. nC. Transactions of large monetary value and risk. nD. Reinsurer 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 prof

44、itable book of business. nOriented:導向的； relies on ：依靠 再保險與原保險的聯系再保險與原保險的聯系 n再保險與原保險既有聯系又有區(qū)別。再保險與原保險既有聯系又有區(qū)別。 n二者的二者的主要聯系主要聯系在于：都是對風險責任的分在于：都是對風險責任的分 散。散。 n原保險原保險是對投保人的風險責任予以分散，是是對投保人的風險責任予以分散，是 對風險的對風險的第一次轉嫁第一次轉嫁； n再保險再保險是對保險人的風險責任予以分散，也是對保險人的風險責任予以分散，也 可以說，再保險是對風險可以說，再保險是對風險第二次轉嫁第二次轉嫁。 再保險與原保險的主要區(qū)別

45、再保險與原保險的主要區(qū)別 n1 1、合同當事人不同。、合同當事人不同。 n原保險合同的雙方當事人是投保人和保險人；原保險合同的雙方當事人是投保人和保險人； n再保險合同的雙方當事人都是保險人，即分再保險合同的雙方當事人都是保險人，即分 出人與分入人，與原投保人無關。出人與分入人，與原投保人無關。 再保險與原保險的主要區(qū)別再保險與原保險的主要區(qū)別 n2 2保險保險標的標的不同。不同。 n原保險合同的保險標的是被保險人的財原保險合同的保險標的是被保險人的財 產或人身，或者具體為被保險人的財產產或人身，或者具體為被保險人的財產 及有關利益或者人的壽命和身體；及有關利益或者人的壽命和身體； n而再保險

46、合同的保險標的是而再保險合同的保險標的是原保險人分原保險人分 出的責任出的責任，分出人將原保險的保險業(yè)務，分出人將原保險的保險業(yè)務 部分地轉移給分入人。部分地轉移給分入人。 再保險與原保險的主要區(qū)別再保險與原保險的主要區(qū)別 n3 3保險合同的保險合同的性質性質不同。不同。 n原保險合同具有原保險合同具有經濟補償性或者經濟補償性或者 保險金給付性保險金給付性； n而再保險合同具有而再保險合同具有責任分攤性責任分攤性， 或補充性。其直接目的是要對原或補充性。其直接目的是要對原 保險人的承保責任進行分攤。保險人的承保責任進行分攤。 原保險契約與再保險契約之關系圖 危險危險 被保險人 分保分保 自留自

47、留 保險人 分入分入 再保險人 原保險契約原保險契約 再保險契約再保險契約 原保險契約與再保險契約之關系原保險契約與再保險契約之關系 n個別獨立法律觀點個別獨立法律觀點 n1. 1. 原保險契約之被保險人，對于再保險人無賠償原保險契約之被保險人，對于再保險人無賠償 請求權。請求權。 n2. 2. 再保險人不得向原保險契約之要保人，請求支再保險人不得向原保險契約之要保人，請求支 付保險費。付保險費。 n3. 3. 原保險人不得以再保險人不履行保險金給付之原保險人不得以再保險人不履行保險金給付之 義務為理由，而拒絕或延遲其對于被保險人之義義務為理由，而拒絕或延遲其對于被保險人之義 務。務。 n相互

48、依存業(yè)務觀點相互依存業(yè)務觀點 再保險和共同保險再保險和共同保險 n共同保險共同保險：指幾個保險人，就同一保險利益、：指幾個保險人，就同一保險利益、 同一風險共同締結保險合同的一種保險。同一風險共同締結保險合同的一種保險。 n在實務中，數個保險人可能以某一家保險公司在實務中，數個保險人可能以某一家保險公司 的名義簽發(fā)一張保險單，然后每一家保險公司的名義簽發(fā)一張保險單，然后每一家保險公司 對保險事故損失按比例分擔責任。對保險事故損失按比例分擔責任。 n共保聯營共保聯營與再保險雖有不同，但在今日保險市與再保險雖有不同，但在今日保險市 場，共保聯營與再保險之場，共保聯營與再保險之結合運用結合運用，已屢

49、見不，已屢見不 鮮。鮮。 再保險和共同保險的區(qū)別再保險和共同保險的區(qū)別 n（1 1）反映的）反映的保險關系保險關系不同。不同。 n共同保險共同保險反映的是各保險人與投保人之間的關系，反映的是各保險人與投保人之間的關系， 這種關系是一種直接的法律關系；這種關系是一種直接的法律關系； n再保險再保險反映的是原保險人與再保險人之間的關系，反映的是原保險人與再保險人之間的關系， 再保險接受人與原投保人之間并不發(fā)生直接的關系。再保險接受人與原投保人之間并不發(fā)生直接的關系。 n（2 2）對風險的分攤方式對風險的分攤方式不同。不同。 n共同保險共同保險的各保險公司對其承擔風險責任的分攤是的各保險公司對其承擔

50、風險責任的分攤是 第一次分攤，而第一次分攤，而再保險再保險則是對風險責任進行的第二則是對風險責任進行的第二 次分攤；次分攤； n共同保險共同保險是風險的橫向分攤，是風險的橫向分攤，再保險再保險則為風險的縱則為風險的縱 向分攤。向分攤。 共同保險（共保聯營）的關系圖共同保險（共保聯營）的關系圖 甲保甲保險險公司公司 丁保丁保險險公司公司丙保丙保險險公司公司 R I S K 乙保乙保險險公司公司 Function of Reinsurance nThe fundamental concept of insurance is the spreading of risk based on the la

51、w 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 再保險的作用再保險的作用 n1 1分散風險。分散風險。 n再保險是原保險人能夠借以分散風險損再保險是原保險人能夠借以分散風險損 失的機制。失的機制。 再保險的作用再保險的作用 n2 2擴大承保能力。擴大承保能力。 n任何一個保險人，都希望承保量盡可能任何一個保險人，都希望承保量盡可能 地多，但保險人的承

52、保能力都受很多條地多，但保險人的承保能力都受很多條 件的限制，尤其為資本金和公積金等制件的限制，尤其為資本金和公積金等制 約。約。 n但由于業(yè)務量的計算不包括分保費，保但由于業(yè)務量的計算不包括分保費，保 險公司可以在不增加資本額的情況下通險公司可以在不增加資本額的情況下通 過再保險增加業(yè)務量，擴大承保能力。過再保險增加業(yè)務量，擴大承保能力。 再保險的作用再保險的作用 n3 3控制責任，穩(wěn)定經營?？刂曝熑?，穩(wěn)定經營。 n再保險通過控制風險責任使保險經營得再保險通過控制風險責任使保險經營得 以穩(wěn)定。以穩(wěn)定。 n具體作法分兩個方面：具體作法分兩個方面： n一是控制每一風險單位的責任；一是控制每一風險

53、單位的責任； n二是對累積責任的控制。二是對累積責任的控制。 再保險的作用再保險的作用 n4 4、降低營業(yè)費用，增加運用資金。、降低營業(yè)費用，增加運用資金。 n如果保險人在提存未滿期保費準備金時，根據保險如果保險人在提存未滿期保費準備金時，根據保險 法規(guī)定不能扣除營業(yè)費用的話，就必須以保險資金法規(guī)定不能扣除營業(yè)費用的話，就必須以保險資金 中另外支取營業(yè)費用。但通過再保險，就可以在分中另外支取營業(yè)費用。但通過再保險，就可以在分 保費中扣存未滿期保費準備金，還可以有分保傭金保費中扣存未滿期保費準備金，還可以有分保傭金 收入。這樣，保險人由于辦理分保，攤回了一部分收入。這樣，保險人由于辦理分保，攤回

54、了一部分 營業(yè)費用。營業(yè)費用。 n此外，辦理分保須提未滿期保費準備金和未決賠款此外，辦理分保須提未滿期保費準備金和未決賠款 準備金，這部分資金從提取到支付有一段時間，保準備金，這部分資金從提取到支付有一段時間，保 險人可在這段時間內加以運用，從而增加了保險人險人可在這段時間內加以運用，從而增加了保險人 資金運用總量。資金運用總量。 再保險的作用再保險的作用 n5 5有利于拓展新業(yè)務。有利于拓展新業(yè)務。 n保險人在涉及新業(yè)務過程中，由于經驗保險人在涉及新業(yè)務過程中，由于經驗 的不足，往往十分謹慎，不利于新業(yè)務的不足，往往十分謹慎，不利于新業(yè)務 的迅速開展。再保險具有控制責任的特的迅速開展。再保險

55、具有控制責任的特 性，可以使保險人通過分保使自己的賠性，可以使保險人通過分保使自己的賠 付率維持在某一水平之下，所以準備拓付率維持在某一水平之下，所以準備拓 展新業(yè)務的保險公司可以放下顧慮，積展新業(yè)務的保險公司可以放下顧慮，積 極運作，使很多新業(yè)務得以發(fā)展起來。極運作，使很多新業(yè)務得以發(fā)展起來。 Function of Reinsurance Stabilization of profitability Provides large limit capacity Catastrophe protection Supports high growth in premium volume Prov

56、ides help with the underwriting process nFacilitates withdrawal from a particular risk or line of business Stabilization of profitability 增強盈利能力增強盈利能力 nAs captive owners and risk managers know, losses incurred sometimes fluctuate widely from year to year. Large swings in losses incurred can make it

57、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 insurer, most business owners like to see a reasonably steady flow of pro

58、fits to protect their capital and surplus and to support growth, if necessary. n fluctuate ：搖擺的；搖擺的； surplus：盈余盈余 Stabilization of profitability 增強盈利能力增強盈利能力 nPurchasing reinsurance is particularly helpful in smoothing the peaks and valleys of a captives loss experience, as generally the law of larg

59、e numbers doesnt apply to captive operations. nCaptive：自保的，被俘獲的自保的，被俘獲的 napply to：應用于應用于 Provides large limit capacity 擴大承保能力擴大承保能力 nCaptives frequently provide a high limit of insurance on one or a limited number of policies. nFor example, a hospital captive may wish to insure the excess profession

60、al 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 provide lines of coverage and limits that would otherwise not