Brokerage Service

Mega Re provides a brokerage service which provides for and on the behalf of your insurance company. Mega Re is an experienced and professional company, which can meet your needs and assist your reinsurance placement precisely, which will consider all of your targeted goals and expectations when running a reinsurance business. As a re-insurance broker, we:
  1. Familiarize ourselves with the client’s business, as well as the risk retention philosophy that the client has.
  2. Maintain clear records of the reinsurer’s business in order to fully assist the reinsurer, as well as other people who may be involved.
  3. Provide recommendations according to the available technical data in the international insurance and reinsurance market. 
  4. Acquire a database of available insurance markets, which includes solvency ratings of individual reinsurers.
  5. Provide consultations and risk management services for reinsurance. 
  6. Select and recommend a reinsurer or a group of reinsurers.
  7. Negotiate with a reinsurer on the client’s behalf.
  8. Assist during the process of commutation of reinsurance contracts that have been placed. 
  9. Act promptly in accordance to the client’s instructions and provide written agreements, as well as submitting progress reports.
  10. Collect and gather premiums and claims within the agreed time. 
  11. Assist during negotiation and settlement claims processes. 
  12. Maintain proper records of claims. 
  13. Exercise due care and diligence during the selection of reinsurance and international insurance brokers, by paying attention to respective security ratings alongside with establishing respective responsibilities during the use of services.
  14. Establish market capacity and facility for the newly established and emerging businesses, as well as existing businesses and asset class for and from both direct insurers and reinsurers. 
  15. Grant preliminary loss advice (PLA) within reasonable time. 
  16. Separate norms that are needed to be followed for inward and outward

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