Business, Legal & Accounting Glossary
A retrocessionaire is a reinsurance company that insures other reinsurers.
The insurer who reinsures a reinsurer.
A retrocession is a transaction in which one reinsurer (the retrocessionaire) relinquishes a portion of the reinsurance that the former has assumed.
Risks are ceded to retrocessionaires by reinsurance firms in order to minimise their net obligation on individual risks. This assists them in avoiding catastrophic losses, stabilising financial ratios, and obtaining more underwriting capacity.
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This glossary post was last updated: 7th January, 2022 | 0 Views.