European insurers seeing advantages to reinsurance.Ruediger Reissaus and Achim Wambach, economics professors at the University of Erlangen-Nuernberg in Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). , presented research on the demand for reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. in the German and European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. markets at the inaugural meeting of the World Risk and Insurance Economics Congress in Salt Lake City. Studying the results of 135 primary nonlife insurers between 1996 and 2003, Reissaus and Wambach distilled the reasoning behind the insurers' decisions to buy reinsurance. Since 2001, when "essential changes" took place in insurance markets, companies have been using reinsurance for a variety of reasons, including risk spreading, tax optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. and as a risk management tool, specifically to smooth the balance sheet. |
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