| There are four parts in this thesis.Part I made an introduction on the trend and its back ground of the world insurance industry.hi the new century, as the gioballisation of the world economy, the world insurance become more integrated and freely, innovation appears in the insurance industry.Part II introduced the function of the reinsurance in the world economy, the operation theory of the reinsurance practice, the situation of the international non-life reinsurance market and the Chinese reinsurance marketReinsurance is a type of trading with which insurer disperse their risks. For catastrophe risks, reinsurance is particularly important Reinsurance is one of the key department in the world economy. There are two kinds of traditional reinsurance-proportional reinsurance and excess of loss reinsurance. In proportional reinsurance, the premium and loss payment are apportioned as the "share". Proportional reinsurance composed of quota share reinsurance and surplus reinsurance. In excess of loss reinsurance, which is also called non-proportional reinsurance, the original insurance company pay a certain amount of premium, retaining a negotiated loss amount, and the reinsurance company would pay the loss which exceed the retention loss amount. Excess of loss reinsurance composed of per risk excess of loss, per occurrence excess of loss and stop loss reinsurance.Current situation of the international non-life reinsurance market is as follows: The America is the country who mostly need reinsurance, the needed share is 28.9%, together with the needs of Germany and the Great British, it occupied half of the whole world reinsurance support ability. The America is also the biggest supplier to the world reinsurance market, most of which support their domestic insurance needs, the America is also the biggest reinsurance importer from the world. Different with the America , Germany, the Great British and Switzerland are the biggest reinsurance net export country. In China, Reinsurance is just start growing.Today, 26 insurance company is operating in Chinese insurance market, 4 of which are state-owned companies, 9 are share holding companies, 4 are joint venture companies and 9 are foreign insurance branch companies. Up to now, there are 202 representative offices which is opened by 113 insurance units are from 17 countries and areas in this market, 20 foreign insurance companies or joint venture insurance companies are authorized to operate or on the way of establishment in the market The whole market is now full of competition compare with the past Chinese insurance market system is gradually developed, hi the time of the people's insurance company of China whole occupied the market, PICC'S reinsurance department is in charged of the reinsurance business for the whole country. In 1992, the government authorized the China Pacific Insurance Company and the PingAn Insurance Company to operate reinsurance business, thus begin the domestic and the overseas reinsurance business, hi the March of 1999, China reinsurance company is established, the Chinese reinsurance market is growing.Part III introduced the innovation on the world insurance and reinsurance.Traditional insurance is just an industry which pay for their clients loss, modem insurance has the functionof finance, dispersing risks, administrating risks and transferring risks.Innovation composed of finance reinsurance, captive company, and securitisation, etc.Finance reinsurance differentiate the three risks exist in traditional reinsurance-underwriting risk, timerisk and investment risk, finance reinsurance limit die risk in the reinsurance contract, the reinsurer onlytake on small part of risks or almost non risks.Captive company developed very fast in recent decade due to the progress of the risk management. It is aninsurance company whose insured is its mother company. Captive company operated as a self financecompany, usually to be thought as a reinsurance company. Up to date, captive company is playing an impor... |
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