Handbook of Reinsurance Practice

In its second edition, the Practical Handbook of Reinsurance remains a compendium on the fundamentals of the reinsurance business and thus a reference work for all special problems in the field of reinsurance. Supplemented by a version in English, it allows readers from different countries to work together. With regard to bilingualism and the work of non-native speakers with the handbook, the keyword and abbreviation lists have been supplemented. The pool of illustrations, tables and formulae has also been expanded, and tables in particular have been completed in such a way that they can be used for daily work or at least for checking its plausibility. The book can be read both section by section and in one piece as an introduction to reinsurance. Margin numbers have been introduced and standardised in both linguistic versions. Its topics originally arose from the learning objectives for the insurance specialist studies. Hence, particular emphasis continues to be placed on conveying basic knowledge and methodology of reinsurance. The book is divided into eleven sections. It covers the historical origins and the economic importance of reinsurance, the relevant legal bases and the functioning of the various structures, forms and types of reinsurance, with particular reference to the material, temporal and geographical scope of cover and restrictive clauses. The differences between traditional and alternative forms of reinsurance are highlighted, and the reinsurance requirements and policy of the primary insurer are compared with the underwriting capacity and policy of the reinsurer, taking into account the special features in the individual lines of business. Other focal points are the relevant decision-making bases for the design of reinsurance programmes, the purposes and sources of reinsurance statistics as well as methods of pricing and price collection. Furthermore, claims and run-off management in reinsurance are described. Finally, the basic concepts of accounting and the effect of reinsurance on the balance sheets of the contracting parties and their solvency requirements under Solvency II are discussed, as well as the special aspects of risk management. As a handbook with an extensive index, it is ideal for looking up special features that occur time and again in the everyday work of reinsurance.