Reinsurance services

Brief

Finnish Mutual Patient Insurance Company needs reinsurance services for an excess of loss reinsurance contract for the year 2027 (1 January through 31 December). The purpose of the contract is to indemnify the contracting authority for all losses sustained under its Patient Insurance portfolio, written in Finland in accordance with the Finnish Patient Insurance Act. The contract shall have three (3) renewal periods if every member of the consortium agrees to it. Tenderers may submit their tenders only as a consortium, comprising of at least three (3) members that are reinsurance carriers underwriting a share of the reinsurance, with each member underwriting at least five (5) per cent and no more than 50 per cent of the reinsurance. The award criterion is the lowest rate (%) applying to the reinsured’s Subject Gross Earned Premium Income for the contract period. Hannover Rück SE, Swedish Branch, Everest Reinsurance Company (Ireland) DAC, Zurich Branch, Deutsche Rückversicherung Schweiz AG, and Swiss Re Europe S.A., Niederlassung Deutschland Munich currently hold a similar contract.

About the bid

The purpose of this call for tenders is to request tenders for excess of loss reinsurance contract for the year 2027 (1 January through 31 December, both days included), on Losses Occurring During basis. The purpose of the contract is to indemnify the contracting authority for all losses sustained under its Patient Insurance portfolio, written in Finland in accordance with the Finnish Patient Insurance Act (Potilasvakuutuslaki, 948/2019). The Finnish Patient Insurance Centre publishes statistical data on patient injuries subject to the Patient Insurance Act, available at: www.pvk.fi. According to information available to FMPIC’s, patient injuries have never been covered by reinsurance contracts in Finland. Tenderers may submit their tenders only as a consortium, comprising of at least three (3) members that are reinsurance carriers underwriting a share of the reinsurance. Each member of the consortium must underwrite at least five (5) per cent and no more than 50 per cent of the reinsurance, so that the reinsurance amounts to 100 per cent in total. This is necessary in order to minimize and manage the counterparty risks (Solvency II) related to the reinsurance in a cost-effective manner, considering the nature of the procurement as well as FMPIC’s operations and insurance portfolio. The contract shall have three (3) renewal periods if every member of the consortium agrees to it. The procurement has not been divided into lots, as the subject matter forms a natural and coherent whole. Dividing the procurement into separate lots would complicate the implementation and administration of the procurement.

Contact name: Kerttu Varvia / Sansia Oy
Contact phone: +358 444188821
Contact email: kerttu.varvia@sansia.fi

Custom Assessment Criteria

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Award Criteria

Description
The criterion for determining the most economically advantageous tender is the lowest rate (%) applying to the reinsured’s Subject Gross Earned Premium Income for the contract period.
Evaluation Method
The total agreed price is a non-variable sum.

Qualification requirements

Found no qualification requirements in the contract notice.

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See the full notice

Contracting authority: Finnish Mutual Patient Insurance Company
Title: Reinsurance services
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