Using game-theoretic modeling, Professors Michael R. Powers (Temple University) and Martin Shubik (Yale University) have argued that the number of active reinsurers in a given national market should be approximately equal to the square-root of the number of primary insurers active in the same market.
•
This resulted in the same loss going around the market thereby artificially inflating market loss figures of big claims (such as the Piper Alpha oil rig).
He has served as Senior Vice President, Finance, at National Reinsurance(1996) which was acquired by General Reinsurance; Managing Director in Smith Barney's Investment Banking Group for financial institutions and Co-Head of its Private Equity Group (1993–1995); Vice President and Treasurer of Alexander & Alexander(1981–1989); and Assistant Treasurer of Gulf Oil in Europe and the U.S. (1974–1981).
Michel M. Liès (born 1954 in Pont-Sainte-Maxence, France) is a citizen of Luxembourg and noted reinsurance expert.
On 22 October 2010, the British media reported that Julian Messent, a former executive in the reinsurance firm PWS (owned by Lord Pearson), had pleaded guilty in Southwark Crown Court to paying £ 1.2 million in bribes to three Costa Rican officials, in exchange for a contract with the state insurance monopoly, the Instituto Nacional de Seguros (INS).
At the height of Sunderland's power as a shipbuilding centre, most of the mercantile insurance and reinsurance companies and other associated business functions were based in Sunniside, as were a substantial number of foreign consulates, including the Netherlands, Denmark and Russia.