At First Re, we offer proven expertise and a stable financial position in providing life reinsurance solutions that meet our clients’ needs.
Our team of experienced professionals will work with you to find effective solutions to better manage your company’s life risk and optimize your business.
We offer an extensive range of reinsurance solutions tailored to meet our clients’ needs when designing on new/existing and placement of life treaties.
Types of Life Reassurance We specialize;
- Quota Share
- Surplus
- Facultative
- Catastrophe excess of loss
These are some of the most common life reinsurance products in our books:
Individual Life
- As a result of our strong and skilled underwriting expertise, many of the industry players have chosen First Re 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 reassurer by means of definite certificate and has the following details,
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- Reassurance certificate
- Reassurance No.
- Policy No.
- Account No.
- Nature of Assurance
- Commencement
- Expiry Date
- Renewal Date
- Date of Birth
- Other existing policies
- Basic sum assured
- Riders
Group life
- 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:-
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- Scheme name and policy number
- Free cover limit (FCL)
- Quarter
- Renewable date of policy
- Retention
- Currency
- Member name, staff number, date of birth
- Sums assured, premium rate and premium charged.
Life & Health
- Apart from only assisting in risks placement, our experienced staff continually provide assistance to our clients with such needs as facultative underwriting, pricing and claim consultation. We have a great deal of expertise to share with our client big base.
Credit Reinsurance:- Mortgage/Debt protection,
- At First Re, 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
LIFE REASSURANCE TREATY AGREEMENTS – 12 ARTICLES
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- Scope
- Retention and automatic cover
- Currency, liability and follow the fortunes
- Reassurance premiums, commissions and expenses
- Documentation
- Alteration, cancellation and reinstatement
- Claims
- Accounts and settlements
- Errors, omissions and inspection of records
- Alteration to and duration of agreement
- Arbitration
- Profit commission