Reinsurance is a form of insurance purchased by insurance companies to protect themselves against the risk of large losses. It is a form of risk management, primarily used to hedge against the risk of a catastrophic loss. Reinsurers provide capital to the insurance industry, allowing insurers to accept larger risks and write more policies. Reinsurers can be divided into two categories: direct reinsurers and reinsurance intermediaries. Direct reinsurers are companies that provide reinsurance directly to insurers, while reinsurance intermediaries are companies that act as brokers between insurers and reinsurers. Reinsurers are typically large, global companies that have the financial resources to cover large losses. They are also able to spread their risk across multiple markets, allowing them to remain profitable even in times of economic downturn. Some of the major companies in the reinsurance market include Munich Re, Swiss Re, Hannover Re, SCOR, and XL Catlin. Show Less Read more
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