Following the success of last years reinsurance school, the Micro Insurance Academy (MIA) held the 2nd Reinsurance School for Micro Insurance Schemes at the India International Centre in New Delhi Oct. 15-17, 2008. Nearly 50 people traveled from around India and abroad to see presentations given by international experts and learn how reinsurance can protect micro insurance units.

Reinsurance gives microinsurers a safety net and protection against insolvency.Presenters demystified reinsurance for participants beginning with the history of reinsurance, the different types available, analyzing reinsurance contracts, understanding evaluation grids, and reinsurance retention and pricing levels. The faculty included prominent figures in the field such as Jeff Blacker, an actuarial consultant from the United States, Liyaquat Khan from HSBC Global, Annette Houtekamer from Eureko Re, S. Balasubramaniam of the Dhan foundation, Devaprakash from Care, Shreeraj Deshpande from Bajaj Alliance, Sandeep Asthana from RGA, Alok Kumar of Swissre, and the MIA directors.

“The reinsurance school reiterated my conviction in the ability and wisdom of common people. The school is well poised to add significant value in creating a cadre of insurance advisors in locations where they are needed most,” commented one participant.

The workshop had broad participation from Indian and International NGO’s and insurance companies, including Save the Children Nepal, Cooperative Insurance Company Kenya, Iffco Tokio General Insurance, Cooperative Development Fund, CECOEDECON, and Madhyam Foundation, among many others. It highlighted the insurer’s need for reinsurance to increase capacity, improve financing, to curtail the amount of annual fluctuations in the losses he has to bear, and to remain solvent when faced with losses of a catastrophic nature.