Define: Reinsurance

UK Accounting Glossary

Definition: Reinsurance


Quick Summary of Reinsurance





What is the dictionary definition of Reinsurance?

Dictionary Definition


An agreement by which one insurer indemnifies another insurer in part, or in total, for the risks of a policy issued by that other insurer.


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Full Definition of Reinsurance



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Examples of Reinsurance in a sentence


When a reinsurer purchases reinsurance, it’s call retrocession.
Insurers can protect themselves against potential unforeseen catastrophes through reinsurance.
They are accurately measure the economic benefits related to the reinsurance contract.
BDO Stoy Hayward is about to acquire a new subsidiary, Zurich Reinsurance Centre.
The company is currently in dispute with Eagle Star over £1.6 million worth of reinsurance claims.
These new results are of important significance to the steady operation of reinsurance companies.
The current regulations are to apply to all reinsurance contracts issued and held by insurers.



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Modern Language Association (MLA):
Reinsurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 21, 2019 https://payrollheaven.com/define/reinsurance/.
Chicago Manual of Style (CMS):
Reinsurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/reinsurance/ (accessed: November 21, 2019).
American Psychological Association (APA):
Reinsurance. PayrollHeaven.com. Retrieved November 21, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/reinsurance/

Definition Sources


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This glossary post was last updated: 5th May 2019.