Basics of Non-Proportional Reinsurance

28th February, 2017
Dubai, United Arab Emirates

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The course will provide you comprehensive understanding of the concept Non- Proportional reinsurance and its importance. This program will discuss the forms of Non-Proportional reinsurance agreements between the direct insurer and reinsurer. This program will also discuss the recent trends in Reinsurance market. This is Highly informative and interactive course with effective case studies and exercises.

The course presenter will share information on pricing techniques and Agreements that determine the types of losses to be covered. Participants will get an in-depth understanding of how reinsurance products are used and gain the confidence to implement new pricing approaches. The course presenter’s experience allows him to relate to the challenges clients face and the value that improved knowledge and skills can deliver to the business.

The Course aims to highlight importance of Non-proportional reinsurance. There are several uses and advantages for each and every Non-proportional forms and clauses and the course presenter will discuss each of them with updated developments.

The Basics of Non-Proportional Reinsurance Course aims to elaborate various forms Specific Non-Proportional Reinsurance clauses and Non-Proportional Treaty covers- how contract wordings are usually prepared either by the cedant, the specialist leading reinsurer protecting the business or even the reinsurance broker.

Learning Objectives

The Course will provide delegates with an understanding of the purpose, meaning and interpretation of Non-Proportional Treaty wordings and clauses. During this One-day workshop, participants will acquire detailed technical and practical knowledge relating to how the different forms of Non-Proportional Reinsurance can be structured and used in the market, and most importantly the thought processes behind such practices. Learn practical aspects of Non-Proportional Reinsurance treaty design. Benefit from the background of a highly-experienced Trainer & from the exchange of experiences as our workshops comprised of participants from different background of the industry. The course is designed to provide you with a basic knowledge of the main methods and types of Non-proportional Reinsurance available in the international reinsurance market, together with an analysis of the main principles involved in the buying and selling of Non-proportional Reinsurance.

KEEPING UP WITH THE INDUSTRY’S VIEWS

Vigorous Regulatory Framework Helping Middle East to Make Headway in Reinsurance Industry

Posted on: 24 January 2017

Since long, it has been evident that there are high cessions in the Gulf reinsurance industry. This is majorly witnessed in the facultative market, than in treaty arrangements. For regional reinsurers, the increasing number of primary insurers in the facultative segment therefore, makes the task of monitoring the level of risk a more difficult consideration. These concerns are being addressed by regulatory systems across the region, which have been targeted on improving the technical performance of insurance firms, as well as ensuring that they are adequately solvent to ceding weather underwriting losses.

The core activity of sound underwriting has been neglected over recent years. This is particularly prevalent in the facultative market, where short-term profit is a larger motive force than in treaty arrangements, the renewals of which must negotiated with reinsurers on an annual basis. Recent trends in the primary insurance segment have made the task of risk assessment more complex for insurers in the MENA region. Source

With the upward trend evident in the Middle East reinsurance sector, the two specialized training courses–Basics of Basics of Proportional Reinsurance and Basics of Non-Proportional Reinsurance, scheduled 27-28 February 2017 in Dubai, UAE will provide an intensive and thorough foundation knowledge about the many facets of reinsurance and financial risk management policies. It will bring you in line with the developments taking place in the region and deal with the complexities related to reinsurance.

To reserve your spot for Basics of Non-Proportional Reinsurance: Click here


Course Outline

Non-Proportional Reinsurance

  • Understanding Non-Proportional
  • General Consideration for Non-Proportional reinsurance
  • Pros and cons of Non-Proportional Reinsurance

Understand the features and operation of non-proportional reinsurance treaties

  • features and operation of different types of non-proportional reinsurance
  • Explain the different bases of cover including risks attaching, losses occurring, claims made and losses discovered.
  • Various types of premium calculation used in non-proportional reinsurance treaties
  • Discuss the purpose and use of reinstatements
  • Discuss the use of event limits in non proportional reinsurance treaties

Claims settlement in the case of non-proportional reinsurance

  • Per risk excess of loss
  • Per event catastrophe excess of loss cover
  • Facultative reinsurance
  • Date of loss
  • Payment
  • Information to the reinsurer
  • Claims handling at the reinsurer’s
  • Stability clause (Indexation clause)
  • Co-reinsurance: the insurer’s participation/share in the cover

Calculating the price

  • Price commensurate with risk
  • The reinsurance price
  • Types of excess of loss premiums
  • Premium payment methods

How is Premium fixed for Non  Proportional Treaties?

  • XL Premium
  • Minimum & Deposit Premium
  • Adjustment Premium
  • BC Premium
  • Reinstatement Premium

Some important clauses pertaining to the Non Proportional Treaties

  • Ultimate Net Loss Clause (UNL)
  • Claims reporting Clause
  • Claims Co-operation Clause
  • Stability / Index Clause
  • Stability Clause
  • Hours (Definition of Loss Occurrence) Clause
  • Interlocking Clause (risks attaching)

  Benefits of Non Proportional Treaty Reinsurance

  • Volatility Reduction
  • Diversification Improvement
  • Improvement of Risk/Return Relations
  • Capacity Increase
  • Qualitative Effects

KEEPING UP WITH THE INDUSTRY’S VIEWS

Vigorous Regulatory Framework Helping Middle East to Make Headway in Reinsurance Industry

Posted on: 24 January 2017

Since long, it has been evident that there are high cessions in the Gulf reinsurance industry. This is majorly witnessed in the facultative market, than in treaty arrangements. For regional reinsurers, the increasing number of primary insurers in the facultative segment therefore, makes the task of monitoring the level of risk a more difficult consideration. These concerns are being addressed by regulatory systems across the region, which have been targeted on improving the technical performance of insurance firms, as well as ensuring that they are adequately solvent to ceding weather underwriting losses.

The core activity of sound underwriting has been neglected over recent years. This is particularly prevalent in the facultative market, where short-term profit is a larger motive force than in treaty arrangements, the renewals of which must negotiated with reinsurers on an annual basis. Recent trends in the primary insurance segment have made the task of risk assessment more complex for insurers in the MENA region. Source

With the upward trend evident in the Middle East reinsurance sector, the two specialized training courses–Basics of Basics of Proportional Reinsurance and Basics of Non-Proportional Reinsurance, scheduled 27-28 February 2017 in Dubai, UAE will provide an intensive and thorough foundation knowledge about the many facets of reinsurance and financial risk management policies. It will bring you in line with the developments taking place in the region and deal with the complexities related to reinsurance.

To reserve your spot for Basics of Non-Proportional Reinsurance: Click here


Course Leader
Professional Affiliations: Chartered Insurer,Chartered Insurance Institute, London, Specialized in Liability and Reinsurance Areas Fellow of Life Management Institute, Atlanta, USA Competent Toastmaster of Toastmaster International, USA

EDUCATIONAL ATTAINMENTS

  1. Bachelor of Commerce (Honours), University of Delhi, 1978
  2. Chartered Insurer (ACII), Chartered Insurance Institute, 1991
  3. Fellow of Life Management Institute, LOMA, USA, 2001
  4. Masters in Administration Management, JBIMS, Mumbai, 1987
Won the Alexander Howden Award for  Best Performance in Asia at the ACII ,London exam in 1990.

WORK HISTORY AND MAJOR ACHIEVEMENTS

2013 till date:
  • Promoted as Asst CEO reporting to CEO & Managing Director with responsibilities for Strategic Planning and establishing partnerships with global brands;
  • Oversee the functioning of Technical Department Managers with full underwriting responsibilities; review compliance with established underwriting guidelines and ensure adequate risk surveys are performed;
  • Liaise with legal consultants for claims involving adjudication;
  • Maintain Reinsurance Program Design with emphasis on capacity deployment and profitability across all lines; Negotiate with lead reinsurers for suitable terms and achieve valued partner status;
  • Closely monitor tender submissions for all major lines of business with a view to secure lead positions;
  • Evolve underwriting strategies across all classes for optimizing results;
  • Establish suitable platform for rating process;
2010 till 2012:
  • Head of Reinsurance and Technical Functions – Composite Insurer - Kuwait (Reporting to CEO & Managing Director)- Start-up in 2009
  • Full Responsibility for Reinsurance Program finalization for the Company; (Proportional & Non-Proportional Non-Life Treaties)
  • Establish the Treaty Capacity and negotiate terms and conditions with the Treaty leader – Swiss Re;
  • Evaluate the panel with the broker/consultant for security and capacity;
  • Negotiate for enhanced terms of treaty support and diversify panel structure with due diligence exercise;
  • Established Life and Medical Treaties with optimal capacities with leading International Reinsurers;
  • Training for operational staff in aspects of Reinsurance, Legal principles of Insurance and operational aspects of all classes;
  • Development of Product Manuals with underwriting guidelines;
  • Development of Corporate Vision/ Mission statements for dovetailing into Business Plans
Mid 2006 till Dec. 2009: Head of Reinsurance & Technical Division of Gulf Takaful Insurance Company, Kuwait (Subsidiary of Global Investment House) A Senior Management position reporting to Deputy CEO (Technical);

Major Achievements:

  • Finalize suitable reinsurance treaty support for all classes of business with Treaty Program led by Hannover Re. and followed by SCOR, ARIG
  • Established Net Account XL Programs to control exposures for working covers as also for CAT exposures led by Lloyd’s of London
  • Negotiated with Reinsurers for superior terms for a start-up (Greenfield venture) which is a significant achievement
  • Facilitated growth of the Division by more than 150% with an attained Profit of more than 200%
  • Set guidelines for retention and secured suitable underwriting and claims settling authority superior to erstwhile arrangements
  • Achieved approved Insurer status for the Company in a span of 2 years with major conglomerates in Kuwait
  • Won theAgility contract against fierce competition from major established companies by securing suitable R/I support levels and relationship management
  • Arranged regional placement of a Major client across the Arabian Gulf and Middle East – Complicated fronting arrangements were negotiated and put in place across the Gulf and Lebanon, Sudan, Libya
  • Won major contracts for Medical Division with prestigious clients and negotiated suitable TPA agreement
  • Reinsurance treaty for medical portfolio negotiated successfully with International Reinsurer
  • Improved Reinsurance treaty terms significantly with long-term Profit Commissions achieved
  • Interact with Corporate Actuary for suitable product design and launch
  • Develop product design for Family Takaful line with need analysis and collaboration with professional actuarial firm on technical issues
  • Drafted a manual for risk assessment and evaluation in conjunction with the Risk Engineer with comprehensive underwriting guidelines
Jan. 2005 to Mid 2006: Underwriting Manger with Al Futtaim group in Dubai (Senior Managerial role) Position reported to  General Manager Major Achievements: Design suitable Individual Life products with collaboration with leading International Actuarial firm
  • Launch of market-driven Critical Illness product
  • Develop suitable distribution channels for range of products both retail and corporate
  • Implement quality controls for underwriting and development of Group Benefit schemes with emphasis on exposure evaluation
  • Member of a task force to achieve quality certification which resulted in upgrade of S&P rating to ‘A’
  • Implemented Bancassurance initiatives for unit-linked insurance and PA line of products
  • Training Program implementation for SalesForce in needs selling techniques
  • Developed Broker relationships for all classes of business
  • Negotiated Reinsurance Facilities with major European reinsurers as also Lloyd’s of London
Sept.2002 to 2004: Technical Manager with ONIC Holding Group Companies, Muscat (Senior Managerial Role) Position reported to CEO Major Achievements:
  • Achieved significant growth in the Portfolio with effective Underwriting Guidelines and controls in place
  • Implemented effective training programs for the Direct Sales Force with emphasis on Needs Analysis and solution design
  • Achieved ambitious targets for National Life and General and contributed to a major turn-around of the Company’s performance
  • Designed control systems for evaluating risks and enhancing profitability for the company
  • Designed Marketing campaigns for improving bottom-line performance
  • Conducted Corporate Seminars to raise the profile of the Company in the market
  • Negotiated beneficial terms with reinsurers such as Swiss Re overall
Mid 1998 to Aug. 2002 Development Manager for American International Group Sharjah, U.A.E. – Position reported to Director of Agencies at Regional Head Office in Sharjah

Major Achievements:

  • Training of Sales Force with focus of quality selling
  • Developed Training modules for major market-niches such as Corporates and Affinity groups
  • Design and development of unit-linked products relevant for channels such as Direct Sales Force and Banks
  • Developed a Service Charter to improve Persistency levels of business
  • Improved retention levels of Sales Force with appropriate training and motivation
  • Set up workplace marketing units for focused market penetration
  • Conducted Corporate Product Seminars for raising awareness of niche products such as Banker’s Blanket Bond, Fidelity Guarantee,D&O
  • Set up Marine Open policies for shipments under L/Cs with select banks
Mid 1992 to Mid 1998 Relationship Manager with Zurich International, Bahrain Position reported to Chief General Manager in Dubai

Major Achievements:

  • Set up Corporate Pension plans for major organizations in Bahrain
  • Awarded prestigious trophy for Best Market Performance in Bahrain by the Chief Executive, Steve Melcher in Dubai
  • Facilitated profitable growth for Zurich International in Bahrain by selecting and managing niche client base with focus on bottom-line
  • Was a member of a product development committee for enhancement and improvement of the range of products on offer in a competitive market – special focus was on acquisition cost defrayment and channel compensation structure
  • Policy wording design in tune with market demand was implemented
  • Invited to several International Conferences in Thailand, Australia, Europe to discuss market developments and generate ideas for effective underwriting
Mid 1983 to Mid 1992 (Joined as Management Trainee in 1983) Reinsurance Executive with the New India Assurance Company, Mumbai, India

Major Areas of work:

  • Evaluate quality of reinsurance acceptances for the net account
  • Arrange for suitable retrocession facility for book of business
  • Negotiate for reinsurance programmes for subsidiary companies in Trinidad & Tobago, Kenya, Sierra Leone
  • Underwrite Aviation Programs including Satellite Coverage for ISRO
  • Develop a profitable reciprocal trading portfolio through suitable exchange of reinsurance programmes
  • Deliver training sessions to new trainees at the Training College
  • Determine placement of Surplus Treaties in the International Reinsurance Market with favorably negotiated terms

Relevant Areas of Strength/Core Competencies:

  • Have strong connections with major International Reinsurers and Lloyd’s market for all niche areas
  • Strong Communication skills with powers of persuasion
  • Negotiation skills with major international reinsurers
  • Man-Management skills with ability to motivate people
  • Conflict resolution skills with focus on solution rather than blame apportionment
  • Strong PR skills to project image of any organization in a favorable light and capable of making strong presentations to various stake-holders
  • Idea and strategic leadership with ability to spot and nurture talent
  • Article published in MEIR, December 2013 edition; Publication in Premium M.E.
  • Attended GAIF, FAIR and MULTAQA conferences as Senior Management representative
  • Presentation of paper at the MULTAQA

KEEPING UP WITH THE INDUSTRY’S VIEWS

Vigorous Regulatory Framework Helping Middle East to Make Headway in Reinsurance Industry

Posted on: 24 January 2017

Since long, it has been evident that there are high cessions in the Gulf reinsurance industry. This is majorly witnessed in the facultative market, than in treaty arrangements. For regional reinsurers, the increasing number of primary insurers in the facultative segment therefore, makes the task of monitoring the level of risk a more difficult consideration. These concerns are being addressed by regulatory systems across the region, which have been targeted on improving the technical performance of insurance firms, as well as ensuring that they are adequately solvent to ceding weather underwriting losses.

The core activity of sound underwriting has been neglected over recent years. This is particularly prevalent in the facultative market, where short-term profit is a larger motive force than in treaty arrangements, the renewals of which must negotiated with reinsurers on an annual basis. Recent trends in the primary insurance segment have made the task of risk assessment more complex for insurers in the MENA region. Source

With the upward trend evident in the Middle East reinsurance sector, the two specialized training courses–Basics of Basics of Proportional Reinsurance and Basics of Non-Proportional Reinsurance, scheduled 27-28 February 2017 in Dubai, UAE will provide an intensive and thorough foundation knowledge about the many facets of reinsurance and financial risk management policies. It will bring you in line with the developments taking place in the region and deal with the complexities related to reinsurance.

To reserve your spot for Basics of Non-Proportional Reinsurance: Click here


Click Here to Register for the Course

Register 3 Send 4th One Free

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Regular Price: $599 + 5% Admin Fee

Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this course may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Note: All payments are made in USD. Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 5% Admin/Bank Charges.

Venue:

M Hotel Downtown by Millennium Dubai
Address: Al Asayal Street ,Downtown Dubai,Next to Dubai Mall – Dubai – United Arab Emirates
Phone: +971 4 450 2000
Website: M Hotel Downtown by Millennium Dubai

 

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