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Reinsurance

Lexgarant is licensed to perform reinsurance operations according to the license No ПС № 0348 от 12.10.2015.

In order to maintain a reliable reinsurance cover and a balanced insurance portfolio, Lexgarant is carrying out a wide range of inward and outward reinsurance operations.

The annually renewing obligatory outward reinsurance programmes enable our company to write the following limits both in respect of insurance and reinsurance risks:

Type

Treaty limit

Leading Reinsurer

Aviation Hull and Liability

Combined limit of USD 165,000,000 any one occurrence/aircraft including USD 150,000,000 each and every loss in respect of the liability risks and USD 15,000,000 any one occurrence/aircraft in respect of hull and hull war risks

Swiss Reinsurance Company Ltd.

Cargo risks

USD 6.000.000 any one conveyance

Pembroke Managing Agency Ltd

Property risks

USD 5,000,000 any one location

Hannover Re

Liability risks

USD 1,000,000 any one occurence

Hannover Re

Motor hull

USD 200,000 any one vehicle

Hannover Re

Main advantages of the above facilities are the following:

  • The treaties are placed on an underwriting year basis (Losses Occurring on Risk Attachment). Therefore, the client is protected until natural expiry of the policy.
  • The capacities are automatic and do not require any confirmation of rates or any other terms and conditions from the reinsurers during the policy period. This enables to consider and take prompt decision in writing insurance or reinsurance risk on the date of approach by the client, as well as give competitive and flexible terms and conditions.   
  • Automatic co-insurance section enables to write reinsurance/retrocession and co-insurance risks without any agreement from the reinsurers.
  • The treaties do not contain restrictions as to the geographical location of the Insured or Reinsured, what gives possibility of writing insurance, co-insurance and reinsurance all over the world.

We are also arranging placement of the limits which exceed the limits of our treaties, and this is done on facultative basis, at the best terms and addressed in a short time-frame.   

 

Modified: 16:40:47 05.09.2019