legal cession

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Al Jasmi argued that Wadeema was living with her father upon an order of the Shariah Court which granted him the custody following a legal cession by the mother.
Best expects SCR s pre-tax earnings to be around MAD 400 million (USD 45 million) in 2012 (MAD 581 million USD 68 million in 2011), reflecting a continuing reduction in business written, as the legal cession is progressively being phased out by 2013, and a slight deterioration in technical performance as the company increases its share of non-life business underwritten in the open market in Morocco and abroad, which should increase its earnings volatility.
Best expects SCR's pre-tax earnings to be around MAD 400 million (USD 45 million) in 2012 (MAD 581 million [USD 68 million] in 2011), reflecting a continuing reduction in business written, as the legal cession is progressively being phased out by 2013, and a slight deterioration in technical performance as the company increases its share of non-life business underwritten in the open market in Morocco and abroad, which should increase its earnings volatility.
Ghana Re's business volumes continue to be negatively affected by the repeal of the compulsory legal cession in 2008, despite the company's efforts to retain business by introducing special quota share arrangements, which offer high commissions.
SCR's combined ratio improved in 2006 through both open market and legal cession business (down by 6% to 88% and 22% to 98% respectively).
These factors are likely to be partially counterbalanced by a reduction in insurance premium tax on legal cession business and the company's reducing exposure as a result of the decision to cease underwriting unprofitable energy and international aviation lines.
Best views international diversification as integral to the company's improving business position due to the expected withdrawal of the 18% domestic legal cession at the end of 2006, the restricted level of foreign investment and limited new business growth opportunities within Kenya.
The corporation enjoys privileged access to business through its compulsory legal cessions and its longstanding relationship to stakeholders.
Yvette Essen, report author and Director of Industry Research, Europe & Emerging Markets, added: The legal cessions in both the local and regional markets and the greater economies of scale enjoyed by the larger reinsurers limit reinsurers competitive positions and constrain their ability to increase market share.
Yvette Essen, report author and Director of Industry Research, Europe & Emerging Markets, added: "The legal cessions in both the local and regional markets and the greater economies of scale enjoyed by the larger reinsurers limit reinsurers' competitive positions and constrain their ability to increase market share.
ZEP-RE benefits from compulsory legal cessions, which requires cedants in some of its markets to place 10% of its business with the company before ceding risks with other reinsurers.
Best expects the additional premium income generated from natural catastrophe reinsurance will, over the medium term, offset the decrease in business volume due to the gradual phasing out of the legal cessions regime in Morocco by 2012.