Reinsurance is the longest-established member service and lies behind the original establishment of ICMIF. The objective of ICMIF reinsurance is to promote cooperation and understanding in reinsurance matters among members of ICMIF. The means of achieving this objective are currently undergoing significant change, with the intention to provide a more comprehensive service to the members through effective communication, networking, facilitation, and training.

One of the main methods by which ICMIF promotes cooperation and understanding in reinsurance is through its biennial Meeting of Reinsurance Officials (MORO). Attracting reinsurance managers from members around the world, these technical conferences take place in a different location on each occasion, and are usually hosted by an ICMIF member company. The next meeting will be in 2008.

Reinsurance is a key issue for members, particularly those in developing markets, and ICMIF is committed to providing reinsurance training to enable those members to understand more about the reinsurance process, helping them to obtain suitable reinsurance cover at a fair price and with secure reinsurers. ICMIF continues to deliver this training with the assistance of its members, with the emphasis firmly on “learning by doing”, which has proven so successful in the past with our interactive business simulations.

Joint buying and pooling are other ways that members can cooperate with each other. This gives them leverage when seeking reinsurance support, helping them to secure adequate reinsurance capacity at reasonable terms. Current examples include a reinsurance cover for members’ cooperative property risks that exceed normal underwriting capacity, and a non-life reinsurance programme bought jointly by several members in Latin America. Another project recently launched is Centurion, a joint reinsurance protecting against very large catastrophe events.

Contact: Mike Ashurst


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