再保险概述

USE OF CO-INSURANCE FOR LARGE RISK
对大的风险进行共保的运用



Even with the subsequent development of reinsurance the practice of co-insurance has continued. At Lloyd's it continues to be the normal method of spreading individual risks, and with major industrial risks it is the usual pattern of operation to incorporate in the policy a schedule to which many insurance companies may have sub-scribed for their respective shares. Subsequent：后来的 Schedule：表格，计划； pattern：模式
USE OF CO-INSURANCE FOR LARGE RISK
对大的风险进行共保的运用




As indicated above, the early development of insurance was by individuals as opposed to companies. This naturally led to the form of co-insurance which survives on such a large scale today at Lloyd's, where individual risks are insured by many individuals for varying amounts aggregating to the total sum insured. Opposed to：对立的 Aggregate：总计，合计
Profit Commission 盈余佣金，纯益手续费



- A provision found in some reinsurance agreements which provides for profit sharing. Parties agree to a formula for calculating profit, an allowance for the reinsurer’s expenses, and the cedant’s share of such profit after expenses Formula：公式 Allowance：津贴、定量供应、允许，补助
Commission：佣金




- In reinsurance, the primary insurance company usually pays the reinsurer its proportion of the gross premium it receives on a risk. The reinsurer then allows the company a ceding or direct commission allowance on such gross premium received, large enough to reimburse the company for the commission paid to its agents, plus taxes and its overhead. The amount of such allowance frequently determines profit or loss to the reinsurer. Reimburse：补偿；overhead：经营管理费用
EMERGENCE OF REINSURANCE IN MARINE BUSINESS：再保险出现在海上保险业务上



The earliest record of a marine reinsurance relates to an insurance of a voyage from Genoa to Sluys. The reinsurance was effected not as a proportion of the whole risk but for the whole of the risk for that part of the voyage from Cadiz to Sluyss, which the original insurer clearly considered the more hazardous. Effect：有效
EMERGENCE OF INSURANCE COMPANIES
保险公司的出现



By coincidence in that same year, as a reaction to the Great Fire of London in 1666, Dr Nicholas Barbon is reported to have setup a business known as 'The Fire Office' in the Cityof London to insure houses and other buildings against fire. Recent researches, however, suggest that he only began to operate in 1681. Coincidence：同时存在nt of risk not being reinsured
Cession：分出额
-----The portion of the sum insured of a risk ceded to a reinsurer by the Cedant.
history
The origins of insurance



The origins of insurance are lost in the mists of antiquity but from very early times various attempts were made, initially in connection with ships and cargoes, to achieve a spreading of risk, which is the simple purpose of both insurance and reinsurance. mists of antiquity：历史的迷雾 Initially：最初 Spread：分散，分布
Three (Re)insurance Parties
保险和再保险的当事人的关系
Insurance Reinsurance
Insured
Insurer Reinsured Ceding company Cedant
Reinsurer
Retrocede:转分保
Retrocession: Reinsurance of
Ceded company:分入公司
-----the Company to whom the risk is
transferred Reinsurer: 再保险人，再保险接受人 ----An insurer or reinsurer assuming the risk of another under contract. Assume：假定，承担，接受
Reinsurance ----转分保，分保的再次分保 Retrocessionaire and Retrocedent: The parties to a Retrocession Retrocessionaire：转分接受人； Retrocedent:转分保分出人
Retention:自留额
MERCHANT UNDERWRITERS： 商人保险商




It is clear from all the early policies that the insurers were individuals, and it seems probable that for a very long time insurance business was carried on not as a separate profession or business but as an adjunct of the operations of merchants. It is also clear that at an early date policies were subscribed or 'under-written' by a number of such merchants for varying amounts, much as is done at the present day on a more elaborate basis by Lloyd's under-writers. Adjunct：辅助；merchant：商人；商业的 Elaborate：精细的
EMERGENCE OF REINSURANCE IN MARINE BUSINESS：再保险出现在海上保险业务上



From this early and isolated example it may be assumed that as an occasional transaction the existence of marine reinsurance is almost as old as insurance. However, there is little evidence of its actual practice. The earliest statutory reference to reinsurance was an Ordinance of Louis XIV in 1681. Statutory：法律上的 Reference：参考，提及