Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: June 28, 2025
"You're thinking of reinsurance," said Mr. Wilcox mildly. "It is exactly there that the Porphyrion is weak. It has tried to undercut, has been badly hit by a long series of small fires, and it hasn't been able to reinsure. I'm afraid that public companies don't save one another for love." "'Human nature, I suppose," quoted Helen, and he laughed and agreed that it was.
The reinsurance treaty, which had been made for a period of three years, was now about to expire, and while Bismarck desired its renewal, the Emperor, in a spirit of loyalty to Austria, was against the renewal, and the treaty was not renewed. This was the "new course" as it regarded Russia. The difference with regard to the anti-Socialist Laws has been referred to in our chapter on the accession.
Nearly every large company has contracts with one or more reinsurance companies, usually foreign, and whenever an agent writes a policy for a greater amount than his company thinks it prudent to hazard on the risk in question, it cedes to one or more of these reinsurers such a proportion of the risk as it feels disinclined to retain, paying to the reinsurers an equal proportion of the original premium.
The reinsurance company could afford to pay the higher commission, because it had no expensive agency plant to maintain, it did not need conspicuous offices, it employed no field men or inspectors, and in fact, except for the inevitable losses, this commission paid for the business was its only important expense. Mr.
The larger the policies a company is willing to write, the higher the esteem in which it is held by its agents, as a rule; and the Guardian had always, thanks to the excellent reinsurance facilities it enjoyed, been able to take care of very liberal lines on all acceptable classes of business.
With the managing director of this worthy institution he had taken the unspeakable waters at an almost obsolete German spa, and although the waters did him no good, the reinsurance treaty that he incidentally arranged with Mr. August Schroeder made a very satisfactory termination of the treatment. It was a masterly contract for Mr. Wintermuth and its acceptance by Mr.
Scheidle occupied an anomalous position, but one of absolute authority, since he had been for many years the United States Manager of no less than three of the largest foreign reinsurance companies. He was unsociable, apparently uninterested in anybody save possibly himself, and disinclined to be lured by any call or beckoning whatsoever from his William Street office.
"Our reinsurance reserve is about $1,500,000. I should think a company might be found to take it over for about two thirds of that sum. You see, we have a valuable agency plant and a good business, and although you want to get rid of it, it would be considered by most companies as well worth having.
He had been out on the Street for three days, trying to catch the scent of some foreign reinsurance company ignorant of his impending change, so that his fall might not seem too humiliatingly flat, when the news should be wired every agent of the Salamander to cease writing. He had met, however, with no success, so he cannot be blamed if his response to Mr.
"Naturally he doesn't manage them for nothing; but he does the trick, and he's much the best man for it. He has probably engineered four fifths of the important reinsurance deals that have gone through in this country. No one has ever discovered why these things gravitate so unerringly to him but they do. He will undoubtedly be pleased to find you a reinsurer for the Salamander."
Word Of The Day
Others Looking