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 ?
The seminar will specialise in life insurance and the challenges for individuals as well as insurance and reinsurance companies, said BIA chairman Younis J Al Sayed.
The net profit of reinsurance companies increased by 3.8 per cent to reach BD8.1 million against BD7 million last time.
The ACE Group of insurance and reinsurance companies announced today that it has been granted a license from the Dubai Financial Services Authority to establish a wholly owned subsidiary in the Dubai International Financial Centre (DIFC).
and Reinsurance Companies (CCGIRC) under the patronage of Minister of Business
Ms Prisca Soares, Secretary-General of African Insurance Organisation (AIO) told Vanguard he the forth coming 16th Reinsurance forum in Casablanca, Morocco from October 3rd to 5th, 2010 will decisively addresses issues concerning solvency, governance, and pension funds in relation to reinsurance companies with 55 member countries of the body.
In much the same vein, though critics of reinsurance are loathe to admit, primary carriers large and small depend on the creativity and wisdom their reinsurance companies bring to the mix.
Castlewood is a Bermuda-based company specializing in acquiring and managing insurance and reinsurance companies.
Reinsurance companies are also looking to provide much higher attachments to projected incurred losses.
In addition, some significant loss exposure caused the reinsurance companies to contract -- especially in the construction industry.
Most of local insurance companies receive back-up from foreign reinsurance companies. The national insurance industry's capacity to cover potential claims is only 15% of the total value of potential claims Therefore, when all reinsurance companies worldwide raised their premium rates following the September 11, 2001 tragedy on the WTC, local insurance companies inevitably had to follow suit.
11 attacks are likely to clobber reinsurance companies -- providers of the ultimate safety net -- but may win domestic insurers relief in the form of a huge loss-sharing pool for future terrorism-related coverage.
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