Reinsurance formerly often also counterinsurance and reinsurance business

The insurance of a risk assumed by a primary insurer. – The insurer ceding the risk is called the cedant. Because of the principle of risk sharing and the limitation to large risks, reinsurance has always been an international business by its very nature. Of the world’s five largest reinsurers, two are headquartered in Germany. – Whoever assumes a partial risk from an insurer in Germany is subject to special supervision by the Federal Financial Supervisory Authority. – Cf. 2002 Annual Report of the
BaFin, p. 16, p. 43, p. 96 f., BaFin Annual Report 2003, p. 122 f. (changes in supervision; permission), BaFin Annual Report 2004, p. 137 f. (extended supervision of companies; creation of a solvency system), BaFin Annual Report 2005, p.
82 f. (concretization of the statutory provisions on reinsurance supervision in force since December 2004), BaFin Annual Report 2006, p, 53 (Solvency II rules also apply to reinsurers), BaFin Annual Report 2006, p, 79 f. (European Reinsurance Directive in force; details), BaFin Annual Report 2009, p. 91
(coverage ratio satisfactory), BaFin Annual Report 2010, p. 119 f. (supervisory issues) and the respective BaFin Annual Report, chapter “Supervision of Insurance Companies and Pension Funds.”

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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