PR/116008 | Accounting (reinsurance)

Responsibilities:

- Risk distribution: It records the transfer of risk from the primary insurance company to the reinsurer, showing the sharing of liabilities and responsibilities for claim payments.
- Financial burden management: It helps reduce financial volatility in the primary insurer's financial statements by reflecting the portion of liabilities transferred to the reinsurer.
- Recording expenses and income: It tracks the income from underwriting premiums and the expenses for reinsurance premiums paid to the reinsurer.
- Reserve management: It accounts for the reserves set aside for potential claim payouts, including those covered by the reinsurer.

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