We bring the technical knowledge, experience and resourcefulness.
First Re has a special monitoring system that ensures that your Reinsurance portfolio with us is excellently maintained. Prior to expiry of your facultative risks, First Re will send you a reminder to ensure that your facultative risks are renewed in time. We will also follow up with you by means of emails and telephone calls to ensure that our communication reaches you safely. If no response is obtained at that time, First Re will not give up in you but we will always remind you again because our priority is the protection of our clients. We will also co-ordinate your treaty portfolio, not only for the portfolio where we are the leading brokers, but also for any other treaties that you have. We ensure that communications on all the expected activities associated with your treaties are captured in time. We communicate with our clients and the reinsurers to ensure that there is mutual understanding on expectations from both ends.
First Re established the need to venture uniquely into offering advisory services to our clients on measures that will enable them well manage the risks they are exposed to. We also understand the need to have sufficient capacity for all our clients portfolio. We exclusively address the importance of having adequate capacity for all our clients. We address this by looking at each client’s capacity independently. Our recommendations are provided to the client in a timely manner to ensure that the implementation are done within the clients expectations. We provide solutions to all reinsurance related queries. First Re organizes and facilitates training programmes both in-house and externally, generally improving the reinsurance capacity of personnel handling reinsurance needs for our clients. Our clients, receive local and global access to our network of resources in Africa, Middle East, Asia and Europe. Delivering to you reinsurance facilities of diverse nature and addressing all the unique and new insurance ideas developed on the original policies.
We facilitate placement of facultative risks. This process is considered useful in managing exposures exceeding the per-risk capacity provided in the original treaty arrangement or otherwise reduces the overall efficiency of treaties in terms of pricing, structure and market. Facultative Reinsurance provides alternative coverage options to help Insurance companies grow business without worries of exposing the overall underwriting results to excessive volatility from individual policy coverage. We have a wide scope of listed and well rated reinsurers with whom your facultative needs are addressed. Within our standards, we note to give immediate attention to placing you facultative needs effectively. With the various angles that insurance risks are taking up today, we have a well developed team that understands your facultative needs immediately you present a request. We keenly examine the facultative offers and approach specific reinsurers with whom we know your needs will be conclusively addressed. Either,
- Facultative Proportional or,
- Facultative Non-Proportional
We make the best placements and advise.
We not only facilitate the designing and placement of your treaty programmes but also further service your accounts. We ensure that your treaty accounts are processed accurately with immediate confirmations to you and the re-insurers. In addition to this, we will ensure that premiums are collected and remitted promptly as per the predetermined terms in the treaty arrangement.
Our underwriters are specifically skilled to process all the account types related to your reinsurance and retrocession programmes.
- Quarterly Accounts
- Half yearly accounts
- Portfolio Transfers
- Profit Commission
- Sliding Scale Commission
- Non Proportional Treaty Accounts
- Minimum and Deposit Premiums
- Premium Adjustments
We design and develop treaty reinsurance programmes for both Life and General Reinsurance business which sufficiently address our clients’ reinsurance security, underwriting ability and capital management needs on a portfolio level which enables them to effectively manage the combination of premium growth, claims settlement and favourable return on capital. Treaty programs designed by us are well structured to suit your needs on the original policies. As we aim at meeting the objectives of providing excellent reinsurance programmes with sufficient capacity, reinsurance pricing is a matter of great concern. For special and unique cases of treaty arrangements, we have developed a great network with reinsurance experts across the world and that gives us the opportunity to seek solutions to your particular needs as we dedicate to best meet your desires. In additional to Treaty Reinsurance, we also provides retrocession solutions. To improve the capacity of the reinsurance programmes, retrocession arrangements are essential and they are arranged with the best retrocession-aires in the world to provide sufficient retro programmes at well discounted rates.
Our claims department works closely with clients to evaluate, process and collect reinsurance claims in a timely and efficient manner and also create flexible solutions to claims-related matters. We are committed to meeting the expectations of our clients for claims collection. We work closely with re-insurers to obtain timely agreement and settlement. First Re work closely with your reinsurers to ensure that special claims requests including ex-gratia payments are granted and met within reasonable timelines. For both life and non-life claims, First Re has a team of highly qualified and experienced claims personnel to handle your claims to your satisfaction. We handle recoveries for all general business that are in our portfolio, this will also include facultative reinsurance claims. To ensure that all the claims are specially addressed, life related claims are handled exceptionally by the life department.