Under facultative reinsurance
, the reinsurer has no obligation to accept any offered business.
The cedent obtained facultative reinsurance
of the policy in the first two weeks of February 1983, with the different facultative reinsurers telephoning or telexing their acceptances to the reinsurance broker.
The margin had fallen to a non-compliant 93% in April 2015 due to a sharp growth of payables for facultative reinsurance
placements and consequent increase of required capital under the local regulatory solvency formula.
* The facultative reinsurance
category accounted for 98.9% of the total reinsurance written premium value in 2013, which is expected to be the dominant category over the forecast period.
Focused solely on business opportunities emanating from the Gulf and MENA region, including high-value oil and gas, industrial, utility and transportation assets, Gulf Re supports insurers by writing a broad range of property and casualty lines of reinsurance, including energy, marine, engineered risks and property, on both a treaty and facultative reinsurance
The reinsurance company either signs Facultative Reinsurance
, which means that only one risk is covered by insurance company.
* Underwriting: Enhanced rating, including rating worksheets, expanded facultative reinsurance
processing including ability to reallocate proportions ceded to any treaty and adding facultative in a policy transaction, ability to pull claims loss information from policy and integration with Insurer Analytics to support life-cycle, what-if and profitability analysis.
Software and services group Eurobase International Group yesterday announced that Arch Re Facultative Underwriters (Arch Re Fac), a property facultative reinsurance
provider, has chosen to deploy Eurobase's Synergy insurance solution for its global operations.
Underwriting Risk Services (Middle East) (URSME), which will be based in the Dubai International Financial Centre (DIFC), will offer clients facultative reinsurance
products and enable the joint venture partners to expand their commercial insurance business across the Mena region.
Understanding the reinsurance market and recognizing its historic predictability, one knows that when insurance pricing and terms have hardened to the point that the pricing has become attractive to capital, new, naive (cheap) capacity will most often manifest itself first in the facultative reinsurance
Johnston began his career in the facultative reinsurance
division of Aon Benfield, where he specialized in technical risks.