The object of this course. as expressed in the Institute's syllabus. is to 'build upon and extend the student's knowledge and appreciation of the practice of reinsurance.
Therefore. to a large degree. it builds on those principles of reinsurance which the student will already have studied in the Principles of Reinsurance course. and to that extent the courses are complementary. Inevitably. however. there is some overlap between the two. but the emphasis in this Practice of Reinsurance course is on the ways
in which the principles are translated into current market practice in all of the main classes of resurance
It must be emphasised that reinsurance business does not lend itself to uniform practices - the differences in ceding companies' and reinsurers' financial and operating
circumstances. their corporate objectives. and so forth. are sufficient to ensure a diversity of practice. Therefore. the reader should not be surprised if he finds that his experience differs from the practices detailed in the course. To a certain extent what is contained here reflects the authors' own views. but in every case the aim has been to describe current widely accepted practices based on sound underlying principles.
The course also attempts to deal with matters of concern to both ceding companies
and reinsurers.
Often such matters are the opposite sides of the same coin; for
example.
the information which a reinsurer needs to underwrite a new treaty identical to that which a ceding company needs to manage its account and make its reinsurance arrangements. So when a matter is discussed primarily in the context of one party's standpoint. it is always desirable that the reader should try to see the same problem from the other party's point of view.
Finally. although the course has been designed primarily for students preparing for the Institute's examination subject 280. it is hoped that it will provide other readers with an appreciation of current market practice.

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