Products

Our underwriters possess diverse and unique technical skills which enable us develop accurate property treaties, capturing all risks anticipated in the property section such as:

1. Fire Industrial – Material Damage and Business Interruption
2. Fire Commercial – Material Damage and Business Interruption
3. Fire Domestic – Domestic Package policies are tailor made to include Owners/ Occupiers Liability extension
4. Industrial All Risks.

In ensuring that the treaties wholly cover our clients, we design both proportional and non-proportional property treaties: Property Surplus, Property Excess of Loss, Property Catastrophe Excess of Loss

We will also provide facultative reinsurance support for all risks that are above the reinsured capacity.

Our vast experience and special Marine underwriting skills makes us well able to understand your unique needs in the Marine department and develop accurate Marine treaties, capturing all risks anticipated in the Marine section.

1. Marine Hull – Marine Hull and Machinery of Hull, including Third Party Liability and Passengers Liability
2. Marine Cargo – Marine Cargo and Specie risks, Cargo inland, pleasure crafts etc.
3. Goods In Transit where necessary

Our Marine treaties will capture the widest territorial scope expected in marine transportation. The reinsured is able to expend the scopes of the original policies to the widest available range depending with their appetites to Marine risks.

Our underwriters accurately analyze and design treaties, capturing all risks expected in the Engineering department. In a normal circumstance, it is expected that the Engineering and CAR department will expect to underwrite risks of the following nature:

1. Engineering Machinery Breakdown
2. Boiler and Pressure Vessel Erection All Risk
3. Contractors All Risk
4. Contractors Plant and Equipment
5. Electronic Equipment
6. Deterioration of Stock following Machinery Breakdown
7. Loss of Profits resulting from Machinery Breakdown
8. Third Party Liability written in conjunction with Erection and Contractors All Risks.
9. CAR and Engineering Surplus
10. CAR and Engineering Excess of Loss
11. CAR and Engineering
12. Catastrophe Excess of Loss

Our underwriters keenly analyze and model appropriate treaties, capturing all risks underwritten in the cedant’s Motor department. We ensure that the specific requirements of the original policy limits, wordings and territorial coverage are well captured. Risks expected in the Motor and Accident Department include:

1. Third Party Bodily Injury.
2. Third Party Property Damage.
3. Motor Own Damage.
4. Personal Accident.
5. Group Personal Accident.
6. Theft.
7. Money.
8. Plate Glass.
9. Fidelity Guarantee.
10. Miscellaneous Accident Surplus.
11. Motor and Accident Excess of Loss.
12. Motor, Accident and Liability Excess of Loss.

Our underwriters accurately analyze and design Liability treaties, capturing all risks expected in insurance and reinsurance of products of such a nature. Each liability treaty is tailored to meet the specific requirements of the original policy limits, sector, and territorial coverage of each client.

Some of the risks expected are:

1. Public Liability
2. Products Liability
3. Commercial General Liability
4. Employers Liability
5. Workmen’s Compensation
6. Environmental Liability
7. Professional Liability
8. Directors and Officers Liability
9. Trustees Liability
10. Professional Indemnity – brokers, lawyers, doctors, accountants, architects, valuers, engineers, advocates, auditors, pharmacists, surveyor, hospital malpractice.
11. Liability Surplus
12. Liability Excess of Loss
13. Motor and Liability Excess of Loss
14. Motor, Accident and Liability Excess of Loss

Our underwriters analyze and model treaties that address the cedant’s need while maintaining favourable costs of reinsurance. We ensure that the specific requirements of the original policy limits, wordings and territorial coverage are well captured. A cedant’s Medical Department is expected to underwrite the following risks:

1. Medical In-Patient and
2. Medical Out-Patient Cover with,
3. Dread diseases benefits and
4. Maternity Benefits
5. Medical Expenses Quota Share
6. Medical Expenses Excess of Loss
7. Medical Expenses Catastrophe Excess of Loss

Our underwriters are well equipped with diverse and unique technical analysis skills which enable us develop accurate treaties for you. In aviation, risks of the following nature are expected:

1. Hull All Risks
2. Liabilities –Incidental Liabilities; Premises, Products and Hangar-Keepers Liability.
3. In-Flight Personal Accident
4. Hull War Risks
5. Aviation Surplus
6. Aviation Excess of Loss
7. Aviation Catastrophe Excess of Loss

We design and provide treaties with new and creative risk solutions for Livestock insurers. We in addition to this seek to provide solutions to reinsurance needs to cedants Agriculture risks. With the growing appetite of Agriculture and Livestock insurance, we have realized the need to design tailored treaties that suit the specifics of the risks underwritten in the cedant’s Agriculture and Livestock department. Our treaties will match the scopes of the original policies.

As a result of our strong and skilled underwriting expertise, many of the industry players have chosen us as their Life reinsurance Broker. Our underwriters have extensive experience and industry knowledge, which increases their understanding of the market.

Individual life cessions are sent to the re-assurer by means of definite certificate and has the following details:

1. Reassurance certificate
2. Reassurance No.
3. Policy No.
4. Account No.
5. Nature of Assurance
6. Commencement
7. Expiry Date
8. Renewal Date
9. Date of Birth
10. Other existing policies
11. Basic sum assured
12. Riders

We facilitate facultative placement of larger or more difficult cases promptly and competitively. We help our clients in pricing and product design by finding solutions to their individual needs.

Group life schemes advise to the reassurance is by Bordereau and should reflect:

1. Scheme name and policy number.
2. Free cover limit (FCL).
3. Quarter.
4. Renewable date of policy.
5. Retention.
6. Currency.
7. Member name, staff number, date of birth
8. Sums assured, premium rate and premium charged.

We offer a tremendous amount of expertise to our large client base. Some of the products under the credit reinsurance that we specialize in are:

• Credit life.
• Mortgage reinsurance.
• Debt protection – Life & Disability.

In line with the general Takaful and Retakaful standards we seek reinsurance treaties for Takaful operators on both wakala and mudharabah models. First Re appreciates and seeks to address the needs of Islamic societies for profitable growth in local markets and development of the global Takaful industry.

Terrorism has become a highly frequent risk. The effects of terrorism in the society in general are highly impactful. First Re recognizes the risks attaching to Terrorism and Sabotage. Our unique team of professional underwriters and claims personnel ensure that your terrorism needs are addressed by designing and providing unique Terrorism and sabotage treaties conclusively covering the cedant. First Re ensures that your Terrorism facultative needs are also met by placing any facultative requests you offer with highly reputable reinsurance within the shortest time possible