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9

Reinsurance market

Contents Syllabus learning
outcomes

Learning objectives
Introduction
Key terms
A Nature of the reinsurance market 9.1
B Global reinsurance markets 9.1
C Captive insurance companies 9.1

D Market cycles 9.2, 9.3
E Financial strength ratings 6.5, 9.1
F Terrorism 9.1
Key points
Question answers Reference copy for CII Face to Face Training
Self-test questions

Learning objectives
After studying this chapter, you should be able to:

• discuss the structure, operation and regulation of reinsurance markets;
• describe the composition, size and capacity of principal global reinsurance markets;
• explain the main characteristics and operation of captive insurance companies;
• describe the evolution of market cycles and their impact on underwriting performance and reinsurance
capacity; and
• discuss the importance of financial strength ratings in the placing of reinsurance. Chapter

9