Global reinsurance refers to the practice where insurance companies (known as insurers) transfer portions of their risk portfolios to other companies (known as reinsurers) on a global scale. This mechanism helps insurers manage risk, stabilize their financial performance, and protect themselves against unexpected losses from catastrophic events. Key aspects of global reinsurance include: 1. **Risk Transfer**: Insurers often face significant financial exposure from claims, especially in cases of disasters (natural or man-made).
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