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Reinsurance results from exercises

Reinsurance results from exercises. By Roar Rasten Gard AS. The Nordic Association of Marine Insurers. Exercise 1 QS. Program: 50% quota share with treaty capacity 50 million Brokerage Nil Overrider commission 10% Portfolio: Exposure 50 million, premium 300.000

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Reinsurance results from exercises

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  1. Reinsurance results from exercises By Roar Rasten Gard AS The Nordic Association of Marine Insurers

  2. Exercise 1 QS • Program: 50% quota share with treaty capacity 50 million • Brokerage Nil • Overrider commission 10% • Portfolio: • Exposure 50 million, premium 300.000 What will be the net* ceded premium to reinsurers? The risk has a claim of 1 million , what is the claim recovery from reinsurers? * Premium net of commissions

  3. Exercise 1 QS Result

  4. Exercise 2 QS • Program: 80% quota share with treaty capacity 50 million • Brokerage Nil • Overrider commission 10% • Portfolio of 5 risks: • Exposure 75 million, premium 750.000 • Exposure 50 million, premium 300.000 • Exposure 30 million, premium 200.000 • Exposure 2 million, premium 20.000 • Exposure 50.000, Premium 1.000 Do we need to use Fac to reduce the exposure to the treaty? What will be the net ceded premium to reinsurers? Risk 2 has a claim of 1 million and risk 4 has a claim of 50.000. What is the total claims recovery from reinsurers?

  5. Exercise 2 QS result The Nordic Association of Marine Insurers

  6. Exercise 3 XL-program • 2 layered program: • 1st layer 10 xs 10 with 2 reinstatement at 100. Rate on line (RoL) is 25. • 2nd layer 30 xs 20 with 2 reinstatements at 100. RoL is 15. The program is adjustable at an EPI of 60. Minimum and deposit premium is equal to estimated premium. • What is estimated premium for layer 1 and 2?

  7. Exercise 3 XL-program The Nordic Association of Marine Insurers

  8. Exercise 3 cont. XL-program • 2 layered program: • 1st layer 10 xs 10 with 2 reinstatement at 100. Rate on line (RoL) is 25. • 2nd layer 30 xs 20 with 2 reinstatements at 100. RoL is 15. The program is adjustable at an EPI of 60. Minimum and deposit premium is equal to estimated premium. • What is estimated premium for layer 1 and 2? • There are 3 large claims in the year: one is 30, the 2nd one is 12 and the third is 15. Calculate the claim recovery from each layer. • What will be the reinstatement costs?

  9. Exercise 3 XL-program The Nordic Association of Marine Insurers

  10. Exercise 5 XL-program • 2 layered program: • 1st layer 10 xs 10 with 2 reinstatement at 100. Rate on line (RoL) is 25. • 2nd layer 30 xs 20 with 2 reinstatements at 100. RoL is 15. The program is adjustable at an EPI of 60. Minimum and deposit premium is equal to estimated premium. • What is estimated premium for layer 1 and 2? • There are 3 large claims in the year: one is 30, the 2nd one is 12 and the third is 15. Calculate the claim recovery from each layer. • What will be the reinstatement costs? • The total premium income for the portfolio under the program has reached 66. Recalculate the premium for the program and the reinstatement premium.

  11. Exercise 5 XL-program The Nordic Association of Marine Insurers

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