Reinsurance

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Reinsurance

The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk.

Reinsurance

An insurance policy for insurers. In reinsurance, one insurer cedes a portion of its portfolio of policyholders to another insurer in exchange for paying a fee. There exists the possibility that too many policyholders will make a claim and a single insurer will be unable to pay the benefit without ruining itself. This is especially true for disaster insurance and other similar policies. Reinsurance reduces this risk. It is also called stop-loss insurance.

reinsurance

see INSURANCE COMPANY.
References in periodicals archive ?
To quote a recent example there was a serious fraud committed by Almonds re-insurance Brokers, in Aug 2014, to the tune of Rs.13 Crores.
The loss ratio of property and liability insurance before deduction of the re-insurance share was 75.3 per cent in 2014 against 67.2 per cent in 2013, says the report.
He added that most of the insurance certificates concluded between insurance companies and clients -- whether insuring factories, banks, aircrafts, or gas pipelines in petroleum companies -- are partially held in foreign re-insurance companies.
premiums for re-insurance, the share of corporate insurance was 90%, and the share of retail insurance was 10%.
Donnelly had a flood policy issued under the WYO program by NJM's New Jersey Re-Insurance Co.
The the meeting of the Federation of Afro-Asian Insurance and Reinsurance, held in conjunction with FAIR's Secretariat-General, addresses a host of issues in this field, particularly matters related to re-insurance.
There will also be an in-depth discussion on re-insurance, insurance-linked securities and captives, a long standing backbone of Bermuda's financial sector.
"The Middle East insurance industry has been growing at a very fast pace and promises exciting growth prospects," said Dubai Islamic Insurance and re-insurance managing director and chief executive officer Hussein Al Meeza.
The event, moderated by experts from the field, is attended by representatives of credit insurance companies members of the Union as well as re-insurance, collection, commercial information companies and financial institutions.
Bahrain-based t'azur Company has signed an Islamic re-insurance agreement with Hannover Retakaful, the Bahrain-based Islamic subsidiary of Hannover Re.
Montpelier Re Holdings, a provider of re-insurance, has reported a net income of $69.9 million, or $0.96 per share, for the second quarter ended June 30, 2010, compared to $159 million, or $1.81 per share, for the second quarter ended June 30, 2009.
Brit distributes insurance and re-insurance worldwide through brokers, while it also operates in the Lloyd's of London insurance market and as an insurer to small and medium-sized firms.