Reinsurance

MIBL’s Reinsurance broking business is a new business opportunity for the company. The Reinsurance (RI) product is used by insurance companies to transfer their portfolio risks to reinsurers, protecting the insurer’s balance sheets and enabling continuity of business operations.

Our company’s Reinsurance team is comprised of experts whose collective experience in reinsurance totals over eight decades in India, the Far East, the UK, Europe and the Middle East. The team is backed by an Advanced RI Administration and Database software system, ensuring process efficiency and reliable delivery to our clients. We are constantly investing in expertise, skills and tools that would be required to become a distinguished player in the market and strive to deliver innovative and customized solutions to our customers.

Through its introduction of the Reinsurance product, MIBL enters the international arena of insurance broking. The RI Broking team uses its international domain knowledge and expertise to provide innovative and customized solutions to insurance companies, nurturing long term business, relationships and expanding the company’s industry network.

MIBL’s Direct Broking Business provides the foundation of this network, with initial Reinsurance business being drawn from this base of clients.

Import of reinsurance in which foreign reinsurance capacity and protection is obtained for Indian insurance companies
Export of reinsurance in which reinsurance from Indian reinsurers support overseas insurance companies
Cross Border operations in which one insurance company uses MIBL's expertise to reinsure their risks with reinsurers from countries other than India.

Relationship with potential Lead-Reinsurers and ability to secure best terms
Designing a suitable Reinsurance program taking into account the Business Plan and projections of the company; structuring various Non-proportional covers and proportional treaties; also arranging a suitable Leader for Fac proposals
Identifying the right Lead-Reinsurers and obtaining quotations
Negotiation of best terms for various arrangements
Marketing and placement of a reinsurance programme with best securities
Administration of the programme, including all documentation
Assessment of counterparty risk (i.e. the financial strength of reinsurance companies)
Recovery of claims from reinsurers, obtaining their payments promptly
Providing regular market information and assessment
Technical advice
Assistance with direct contact between reinsured and reinsurers
Training / Seminars for employees of the company
Other services that may be volunteered

The reinsurance team is headed by an expert with over 37 years reinsurance experience with national reinsurer and other private insurers.
Ably assisted by experts with reinsurance broking and underwriting experience in the Middle East, Far East and India.
Team having diverse background and rich experience for handling both Treaty and Facultative Reinsurance
Expertise in handling various lines of business such as Aviation, Energy, Marine, Liability, Property, Terrorism, etc

Reinsurance Team

FACULTATIVE :

Property

Fire and Burglary
Large Risk / Mega Risk

Engineering

CAR / EAR
IAR

Marine (CARGO and HULL)

Bulk Cargos
Pleasure crafts
Oil Cargos
Military Cargos

Energy

Onshore
Offshore
Renewable Energy

Aviation

Hull all Risk
Liabilities
Hull War Risk
Aviation excess War Liability
Aviation Products –Avn Prduct liability, Ground handlers, Refullers, Hangkeepers liability etc

Miscellaneous

GPA, Health and Life
Credit
Terrorism
Jewelers’ Block
Fine Arts & Species
Event Insurance

Liability

D & O
E & O
KNR
CGL
Financial Liability
Bankers Blanket

Treaties

Proportional Treaties (all classes)

Quota Share
Surplus
Quota Share cum Surplus

Non Proportional Treaties

Net Account XL
Stop Loss Excess
Pool Excess Cover
Short fall Excess
Proportional Short fall Excess

In addition to above we can also assist in :

Crop Treaties
Medical Treaties
Energy Treaties
Facultative Obligatory Treaties