Page 16 - Insurance Times November 2019

Cover Story
HOW TO

ESTIMATE

GLOBAL

REINSURANCE

PREMIUMS

Introduction: Outside Reinsurance Treaty Programs, Facultative
Reinsurances specific to a certain classes like CAR-EAR Risks,
Global Direct Insurance Premium for 2018 is estimated as
under- Industrial Property Risks, Oil-N-Energy Risks and Aviation
and Space Risks are also in force.
Life: USD 2820 Billion USD 5193
Non-Life: USD 2373 Billion Billion Thus, Global Reinsurances Premiums comprises of per
company, per country per Emerging/Advanced Economies
Reinsurance Premiums according to Reinsurance Treaty
Reinsurances by:
Programs of each and every Insurance Companies are the
Y Proportional Reinsurance Treaties
basis on which Reinsurance Premium outgo per Insurance
Company, per Country and per classified Advanced and Y Non-Proportional Treaties
Emerging Economies of countries in a zone are to be Y Facultative Reinsurances both Proportional and Non-
worked out. Again with Industrial Developments and Proportional
Internet services with all kinds of Artificial Intelligence have
Y Reinsurance of Cyber Risks with no specific Territorial
made One World of all economies active-interactive and
Scope of Risks and as Cyber Risk Loss Events of Hacking
internationally connective.
Data happens by the interplay of Hackers of Any
About the author Country on Data Loss - Data Breach of any client
anywhere in the world.
K. L. Naik Y Alternative Reinsurance Technology Products of
Director Financial Reinsurances and CAT Bonds by Securitizing
Naik Consultancy & Advisors L.L.P of Risks through Risk Financing.
Mumbai
Interestingly, SIGMA Reports 3/2019 have shown a clear-cut

16 The Insurance Times, November 2019