Glossary of Terms R - www.scyllogis.com

Case Studies
Scyllogis Consulting have been helping customers within the Insurance sector continue to achieve significantly higher levels of business performance from their data management programmes and information systems since 2001. Read how we have worked with some of these customers to achieve significant business results across the world, in our case studies. Read more...

Consulting Expertise
Insurance organisations today are no more effective at delivering on large-scale data management initiatives than they were 10 years ago. In a recent survey, 70% of the companies said their data management initiatives did not deliver the expected results. That success rate was unchanged from similar surveys conducted in the 1990's. And the environment for data management is only getting more complex..... Read more

Consulting Expertise

Insurance organisations today are no more effective at delivering on large-scale data management initiatives than they were 10 years ago. In a recent survey, 70% of the companies said their data management initiatives did not deliver the expected results. That success rate was unchanged from similar surveys conducted in the 1990's. And the environment for data management is only getting more complex.....

Read more

Our People
At Scyllogis Consulting all of our consultants have significant experience gained from within the Insurance market. Our people and our culture are our greatest assets. We only select people with relevant experience, intelligence, integrity, passion and the ambition to make a mark and deliver to our Customers the Scyllogis brand values of practical, results based consultancy. Our Consultants are pragmatic and open minded. That is why we deliver solutions that others dont..... Read More

Our People

At Scyllogis Consulting all of our consultants have significant experience gained from within the Insurance market. Our people and our culture are our greatest assets. We only select people with relevant experience, intelligence, integrity, passion and the ambition to make a mark and deliver to our Customers the Scyllogis brand values of practical, results based consultancy. Our Consultants are pragmatic and open minded. That is why we deliver solutions that others dont..... Read More

Glossary of Terms R

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Retention

The amount of any loss or combination of losses that would otherwise be payable under an insurance/reinsurance contract which the insured/reassured must bear itself before the insurer or reinsurer becomes liable to make any payment under that contract. Compare deductible and excess.
An insured or reassured may be able to insure its retention with another insurer/reinsurer.

Retrocedant

A reinsurer that is reinsured under a retrocession.

Retrocession

A reinsurance of a reinsurer by another reinsurer. It serves to 'lay-off' risk.

Retrocessionaire

The reinsurer under a retrocession

Risk

This term may variously refer to -
(a) the possibility of some event occurring which causes injury or loss;
(b) the subject-matter of an insurance or reinsurance contract; or
(c) an insured peril.

Risk based capital

The determination of a member’s capital requirement according to the spread of syndicates in which he participates and the nature of business that those syndicates underwrite.