Retro Quiz

What is the definition of Retro in Reinsurance?

• Clothes, music, and objects are based on the styles of the past.

• Amount of the risk accepted by the Insurer which is then passed on to reinsurance companies.

• A Kickbacks for providing favorable treatment or business opportunities to another person or entity.

• Amount of the risk accepted by the reinsurer which is then passed on to other reinsurance companies.

What is the purpose of Retro protection?

• Risk Transfer to minimize risk exposure

• Increase Underwriting Capacity

• Provide Service to Client

• Increase Premium Top line

Which Entry Code(s) does not get processed automatically to ORP Business Ledger(s) in Calculation Order?

• 2000 Commission

• 3000 Claim Paid

• 1000 Premium

• 3500 Claim Reserve

What Level of Business can be found on the Placement screen

• OIP

• OCC

• ORP

• USH

What Business Ledger Status does not exist in Prop Tty and Fac OCC/ORP?

• As Booking

• As Account

• As Original

• As Informational

What does OCC stand for in SICS?

• Outward Cedent’s Contract

• Orange County Chopper

• Operation Control Center

• Office of the Comptroller of the Currency

Is an Account on the Administration Condition necessary to process As Original Bookings?

• No

• Only for latest Insured Period

• Yes, at least one Account for each Insured Period.

What is/are the characteristics of an IGR deal?

• Bookings are calculated outside of SICS

• Bookings are triggered from EULE

• There is usually an Assumed Business for each Retro Business

• The result of IGR deals on Group level is neutral

• No Cash Transfer required between the group companies

Which answer(s) do not fit here?

• Retro Claim Section can be assinged to Inward Claim

• Treaty Outward / Fac Order to be run to process NP Tty bookings

• NP Protection Assingment are purely informational

• NP Tty Instalments are triggered from the P/L Condition

• Retro Claim cannot be stand-alone

What was the Premium volume for P&C Reinsurance external Retro?

• 2300 M

• 920 M

• 1530 M

• 570 M