Canadian Underwriter, July 1st, 2007
Reinsurance has long been an effective means of diversifying risk for property and casualty (P&C) insurance companies in Canada, particularly the risk of large-claim events. Nevertheless, reinsurance risk does exist and it can have important implications in determining the ultimate cost of an insolvency for member insurers. REINSURANCE IN CANADA The Canadian P&C industry is a heavy consumer of reinsurance products. Reinsurance, a highly complex global business, accounts for about 24% of the Canadian P&C insurance industry's direct written premiums. In comparison, reinsurance acco...
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