Insurers are individual(s) or companies who/which, through a contractual agreement, shoulder responsibility to compensate specified losses, liability, or damages incurred by another individual.
Generally, an insurer is an
insurance company and is also referred to as an
underwriter .
About the Insurer or Insurance Company :
There are two principal types of insurance companies, namely, mutual and stock. A mutual company is owned by the policy owners and its profits take the form of policy dividends, or refunds of part of premiums paid (distributed to policy owners). A stock company, on the other hand, is owned by its stockholders. Here profits take the form of stockholders' dividends (distributed to stockholders).
Profit for Insurer :
There are two ways in which an insurer makes money.
First, through underwriting (through this process the insurers select what risks to insure and decide how much premium to charge for accepting those risks)
Second, through investment profits on float (Float is the amount of money in hand at any given point of time which an insurer has collected in insurance premium but has not been paid out in claims).
Examples of Insurer or Insurance Companies:
Here is a list of some of the leading insurance companies in the world:
AXA (France) for life and health
Allianz (Germany) for property and casualty
Aviva (UK) for life and health
ING Group (Netherlands) for life and health
Assicurazioni Generali (Italy) for life and health
ICICI Lombard General Insurance Company (India) for health, motor, home, etc.
For more information on Insurer, please refer to www.mapsofworld.com .
