Reinsurance brokerage

Reinsurance brokerage

Ascoma has all the necessary skills to deliver innovative and sustainable insurance and reinsurance investments with the support and teams of Ascoma International and Chedid Re.

The added value of Chedid Re

Founded in 1998, Chedid Re, a company of Chedid Capital, has successfully grown over the years to become one of the leading reinsurance broking powerhouses across Europe, the Middle East, Africa and South Asia. With offices in Beirut, Casablanca, Dubai, Limassol, London, Riyadh and recently Abidjan to be closer to its African clients, the iconic insurance solutions provider has forged fruitful partnerships with some of the most trusted reinsurance groups in the world, including Chedid Re’s outstanding track record as an appointed Lloyd’s broker and is hailed today as one of the top 20 reinsurance brokers in the world. Chedid Re capitalises on its resources, experience, and relationships to deliver outstanding solutions to clients, including more than 400 top insurance companies around the globe.

With over two decades of excellence under its belt, Chedid Re’s perfect synergy of customer-centricity, solid management expertise, powerful partnerships, and innovative products, continue to power the company’s expansion plan that aims to reach all thriving and strategic international markets. A market leader known for its resilience, agility, efficiency, and customer-centricity, Chedid Re’s status was further cemented by claiming ‘The Reinsurance Broker of the Year’ title at the Gulf Insurance Awards 2010, the ‘MENA Insurance Awards’ in 2011, the INSUREX Awards 2010, 2011 and 2013 and the Middle East Insurance Industry Awards (MIIA) 2015, 2017, 2018, 2019, 2020 and 2021. In 2021 Chedid Capital acquired 80% of Ascoma, the leading independent insurance broking network in the French speaking countries; 23 subsidiaries in 21 countries. With this acquisition, the insurance broking arm of the Group is today considered the number 1 network in Africa and the Middle East.

What is reinsurance?

Reinsurance is the transfer of risk from an insurer to another party (reinsurer). It is an extension of the fundamental concept of insurance. It is the sharing of risk.

Why to seek reinsurance?

There are a number of reasons, and although the following list is not definitive, some of these are as follows:

– Protection of the account against a single large event, e.g. earthquake

– Protection of the account against a large claim on a single item, i.e. an art museum

– Protection of company capital

– Protection against fluctuating claims costs

– Operational capacity (level of service)

– Entering a new market

– Minimizing loss impact on income generated

– Sharing heavy/hazardous risks

– Access to the expertise of reinsurers in the event of the launch of a new product

Methods of Reinsurance

Essentially, there are two main classification types of reinsurance:

a) Proportional; and Non‐proportional.

b) Facultative; and Treaty

– Proportional:

  1. Facultative
  2. Quota Share Treaty
  3. Surplus Treaty
  4. Facultative Obligatory;
  5. Open Cover;
  6. Pools.

– Non‐proportional:

  1. Excess of Loss Reinsurance;
  2. Stop Loss Reinsurance;
  3. Other forms of treaty.