Reinsurance

Reinsurance

  • Cornes & Co.,Ltd. - the oldest foreign company in Japan - established 1861 in Yokohama.
  • Insurance operations since 1864 - and Lloyd's Agents since 1868.
  • Cornes Insurance Brokers Ltd. - established 2005 in Tokyo.

What is the purpose of this new entity?

CIB is a niche service business formed to provide innovative Facultative Reinsurance Solutions for the outwards reinsurance requirements of non-life insurers established in Japan.

What are the key strengths and drivers?

CIB will tackle any non-life facultative reinsurance requirement, and has a proven track record with industrial and commercial risks heavily exposed to the catastrophe risks of Earthquake, Typhoon and Flood.

CIB personnel have considerable experience of both underwriting and broking direct industrial and commercial risks in the Japanese market.

What is special about the CIB modus operandi?

CIB belive that a successful placement revolves around a sound, comprehensive and technically correct slip. Such would be prepared in Tokyo by CIB working in close cooperation with the cedant.

Added value emanates from our extensive local knowledge of direct underwriting and broking. A final overview of the slip would be undertaken by our selected placing broker in London ahead of marketing.

What is the relationship with London reinsurance brokers?

CIB select an overseas placing broker, on a case by case basis, having regard to the class and nature of the risks involved.

CIB control all placement communications and throughput, including a unique Japan based local settlment service for accounting and claims.

CIB services are available at no extra cos to the cedant - we are remunerated by brokerage sharing with our reputable overseas placing brokers.

What about the security of reinsurance?

CIB never instruct the binding of any risk without cedant approval of the reinsurance security proposed. Our London partners can also advise as to whether a reinsurer appears on their own approved security panel.