reinsurance

Reinsurance refers to a transaction in which one party, the "reinsurer," in consideration of a premium paid to it, agrees to indemnify another party, the "reinsured," for part or all of the liability assumed by the reinsured under a policy of insurance that it has issued.

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Additional Information


The reinsured may also be referred to as the "original" or "primary" insurer or the "ceding company."

Summary


Synonyms

primary insurer