Global Affiliation: Reinsurance

In accordance with the Insurance Corporation Amendment Act 1990 and Insurance Act 2010 it is mandatory for the Bangladesh based private non-life insurers that they would reinsure 50% of their re-insurable risk with Sadharan Bima Corporation (popularly known as SBC), the state-owned non-life insurer and reinsurer in Bangladesh, and the remaining 50% is allowed to place with any Reinsurers either home or abroad.

In reinsuring our business we conventionally make use of both methods of reinsurance:

  • Facultative Reinsurance: a form of reinsurance usually negotiated separately for each insurance policy to be reinsured. This method is effective for individual risks not covered, or insufficiently covered, by our reinsurance treaties, for amounts in excess of the monetary limits of our reinsurance treaties, and for unusual risks. Most of the facultative businesses are channeled through different overseas reinsurance brokers.
  • Treaty Reinsurance: a method of reinsurance arrangement where we and our reinsurers negotiate and execute a reinsurance contract for ceding each and every risk exceeding a pre-defined limit, and recovering accordingly. At Reliance we use two main types of treaty reinsurance, proportional and non-proportional.

Panel of Reinsurers 2018-2019

Treaty Reinsurer (Local):

 

Shadharan Bima Corporation (SBC) of Bangladesh 

Treaty Reinsurers (Foreign):

Scor Reinsurance Asia-Pacific Pte. Limited., Singapore

Labuan Reinsurance(L), Limited Malaysia

Peak Reinsurance Company Limited, Hongkong

Taiping Reinsurance Co., Ltd. Hongkong

Hannover Rück SE Malaysian

Trust International Insurance and Reinsurance Company B.S.C (C), Bahrain

Asian Reinsurance Corporation, Thailand

General Insurance Corporation of India  

Network Partners :

(Foreign Insurers and Reinsurers)

American Insurance Group (AIG), USA

Allianz Insurance and Asset Management worldwide, Germany

Factory Mutual Insurance Company (FM Global), USA

Zurich Insurance Company Limited, Switzerland

AXA Insurance Company, France

Baloise Insurance Limited, Switzerland

Lloyd’s syndicates we work with :

– Talbot Underwriting

– XL Catlin

– Beazley 

– Nexus Underwriting 

.

Global Affiliation: Reinsurance

In accordance with the Insurance Corporation Amendment Act 1990 and Insurance Act 2010 it is mandatory for the Bangladesh based private non-life insurers that they would reinsure 50% of their re-insurable risk with Sadharan Bima Corporation (popularly known as SBC), the state-owned non-life insurer and reinsurer in Bangladesh, and the remaining 50% is allowed to place with any Reinsurers either home or abroad.

In reinsuring our business we conventionally make use of both methods of reinsurance:

  • Facultative Reinsurance: a form of reinsurance usually negotiated separately for each insurance policy to be reinsured. This method is effective for individual risks not covered, or insufficiently covered, by our reinsurance treaties, for amounts in excess of the monetary limits of our reinsurance treaties, and for unusual risks. Most of the facultative businesses are channeled through different overseas reinsurance brokers.
  • Treaty Reinsurance: a method of reinsurance arrangement where we and our reinsurers negotiate and execute a reinsurance contract for ceding each and every risk exceeding a pre-defined limit, and recovering accordingly. At Reliance we use two main types of treaty reinsurance, proportional and non-proportional.

Panel of Reinsurers 2018-2019

Treaty Reinsurer (Local):

 

Shadharan Bima Corporation (SBC) of Bangladesh 

Treaty Reinsurers (Foreign):

Scor Reinsurance Asia-Pacific Pte. Limited., Singapore

Labuan Reinsurance(L), Limited Malaysia

Peak Reinsurance Company Limited, Hongkong

Taiping Reinsurance Co., Ltd. Hongkong

Hannover Rück SE Malaysian

Trust International Insurance and Reinsurance Company B.S.C (C), Bahrain

Asian Reinsurance Corporation, Thailand

General Insurance Corporation of India  

Network Partners :

(Foreign Insurers and Reinsurers)

American Insurance Group (AIG), USA

Allianz Insurance and Asset Management worldwide, Germany

Factory Mutual Insurance Company (FM Global), USA

Zurich Insurance Company Limited, Switzerland

AXA Insurance Company, France

Baloise Insurance Limited, Switzerland

Lloyd’s syndicates we work with :

– Talbot Underwriting

– XL Catlin

– Beazley 

– Nexus Underwriting 

.

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