What do you do for a living?

[RoryA]

They insure themselves for the same reason we do - we offset our risks in case something bad happens. In an insurance company's case, something like a hurricane, or a class action law suit, can suddenly expose them to paying out a lot more claims than they normally would, so they buy protection against that (not necessarily just reinsurance)

 

[sous2817]

Nope, got the world headquarters for the Reinsurance Group of America (RGA) about two buildings down. Reinsurance is still widely used in the US.

Sorry, I meant the mortgage industry stopped using reinsurance, they call it "Credit default swap" now.

 

[MorganO]

I work as a Communications/Computer Systems officer in the US military but that is just a fancy title for a guy that sits at a desk most of the day inundated with e-mail and taskings from more senior people. All those years of management classes sure weren't very helpful for this job!

One good thing I can give to this job is that it introduced me to MS Excel, and for that I am very thankful!

Owen

 

[MrKowz]

Sorry, I meant the mortgage industry stopped using reinsurance, they call it "Credit default swap" now.

Ahhh. Yea, that would make sense for mortgages.

 

[Stormseed]

They insure themselves for the same reason we do - we offset our risks in case something bad happens. In an insurance company's case, something like a hurricane, or a class action law suit, can suddenly expose them to paying out a lot more claims than they normally would, so they buy protection against that (not necessarily just reinsurance)

So what type of a company would provide an insurance to an insurance company ? If you dont have an idea about India, you could give a couple of examples in the UK, incase you are aware of any..

One more small question - is this type ("Reinsurance") used in India ? I dont really know but it would be some interesting information to acquire

 

[sous2817]

Ahhh. Yea, that would make sense for mortgages.

Yeah, I think pretty close to $700 billion in sense.

 

[MrKowz]

yeah, i think pretty close to $700 billion in sense.

hah!

 

[RoryA]

So what type of a company would provide an insurance to an insurance company ? If you dont have an idea about India, you could give a couple of examples in the UK, incase you are aware of any..

One more small question - is this type ("Reinsurance") used in India ? I dont really know but it would be some interesting information to acquire

A Reinsurance company! I think GIC is the main reinsurance company in India.

 

[absquatulation]

From nine to five I have to spend my time at work
My job is very boring - I'm an office clerk
The only think that helps me pass the time away
Is knowing that I'll be back at Echo Beach some day

That and looking at Mr Excel.....

 

[Stormseed]

Naah- I dont know about GIC as an insurance company, perhaps you wanted to mention about LIC ? LIC (Life Insurance Coporation of India) - is it a reinsurance company ? This term "Reinsurance" is itself a new thingie for me atleast !

thanks for the extensive information you have shared and would be sharing, Rory.