Cautiva de Rea
English translation: captive reinsurer / captive reinsurance company
| 21:06 Jan 15, 2019 |
| Spanish to English translations [PRO] Insurance | |||||||
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|  Selected response from: Charles Davis Spain Local time: 12:41 | ||||||
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| 4 +2 | captive reinsurer / captive reinsurance company |
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Answers
34 mins confidence: 
peer agreement (net): +2
peer agreement (net): +2captive reinsurer / captive reinsurance company Explanation: I think "rea" must be an abbreviation of "reaseguro" and that "cautivo de rea" means "compañía cautiva de reaseguro". So this refers to captive insurance; in this case, reinsurance: "Una compañía cautiva no es más que una sociedad de seguros o reaseguros, creado por un grupo industrial o comercial. con vistas a asegurar o reasegurar a través de ella, la totalidad o parte de sus riesgos." https://www.fundacionmapfre.org/documentacion/publico/i18n/c... "Captive insurance is an alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself." https://en.wikipedia.org/wiki/Captive_insurance "Se ofrece una definición de “empresa de reaseguro cautiva” que se refiere a aquellas empresas de reaseguros que son propiedad de una o varia empresas industriales o comerciales o de una empresa financiera distinta de una empresa o un grupo de seguros o reaseguros. Este tipo de empresas ofrece cobertura de reaseguro exclusivamente para los riesgos de la empresa o grupo de empresas a los cuales pertenece o a una empresa o grupo de empresas de los que forman parte." https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2... "A definition of "captive reinsurance undertaking"is given to refer to those reinsurance undertakings which are owned by one or several industrial or commercial firms or by a financial undertaking other than an insurance undertaking or a reinsurance undertaking or a group of insurance or reinsurance. The objective of such undertakings is to provide reinsurance cover exclusively concerning the risks of the undertaking or group of undertakings to which the captive reinsurer belongs or to an undertaking or group ofundertakings of which the reinsurance captive is part." https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2... -------------------------------------------------- Note added at 46 mins (2019-01-15 21:53:22 GMT) -------------------------------------------------- The difference between insurance and reinsurance is significant: "What Is a Reinsurance Captive? A reinsurance captive does not issue policies directly to insureds and typically operates on a nonadmitted basis. A reinsurance captive reinsures the risks insured by one or more fronting companies. The fronting company is a licensed, admitted insurer that issues insurance policies to the captive’s parent company without the intention of assuming all (or any) of the risk. The risk of loss is then transferred to the captive through the reinsurance agreement. What Is Reinsurance? Reinsurance can informally be described as insurance purchased by an insurance company. But here’s a more technical definition: reinsurance is a transaction in which one party, the "reinsurer," in consideration of a premium paid to it, agrees to indemnify another party, the "reinsured," for part or all of the liability assumed by the reinsured under a policy of insurance that it has issued." https://www.captive.com/resources/captive-insurance-basic-in... |
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