Insurance Market
Insurance market is the market that regulates the personal risk, corporate risk and protection of life events. The largest insurance markets include, United States, Japan, China and the United Kingdom. The major players who dominate the insurance activity include AXA, Allianz or China Life and Llyod’s. Llyod’s is one of the largest insurance organization in the world. Llyod’s is known for its reputation for innovation such as developing policies for burglary, aviation and cybercrime. It brings unusual specialist and complicated risks. Llyod’s insures specialist and complex risk in casualty, energy, property, motor, marine aviation and reinsurance. Reinsurance industry is when the insurers protect themselves by using reinsurance companies. An insurer may hedge some of the risks associated with insurance policies it has written by laying off some of that risk with a reinsurer. The contract of reinsurance may cover an entire portfolio of insurance or single risk. It may involve sharing the losses and premiums or just those exceeding a threshold. It may also cover large one off risks such as satellites, major constructions or large sporting events. The largest reinsurers in the world are Munich Re, Hannover Re, Swiss Re, Berkshire Hathaway and Llyod’s.
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