Business, Legal & Accounting Glossary
A fee paid by a reinsurance company to the original issuer of a policy or group of policies being ceded to the reinsurer. This commission covers the cedent’s business and administrative costs for issuing the policy (such as the costs of overhead, licenses, etc.). A percentage of the profits from the premiums collected are also included in the ceding commission.
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This glossary post was last updated: 20th November, 2021 | 0 Views.