Definitions for reinsurance
rein·sur·ance

Princeton's WordNetRate this definition:0.0 / 0 votes

1. reinsurancenoun

   sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured

   "reinsurance enables a client to get coverage that would be too great for any one company to assume"

WiktionaryRate this definition:0.0 / 0 votes

1. reinsurancenoun

   Insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized.

ChatGPTRate this definition:0.0 / 0 votes

1. reinsurance

   Reinsurance is a financial practice where an insurance company reduces its possible financial liabilities by transferring part of its risk to another insurance company. It allows insurance companies to remain solvent by mitigating the risk of major claims events and stabilize financial ratios, increasing their capacity to underwrite more policies. The company that takes on the extra risk, in exchange for a share of the premiums, is the reinsurer.

Webster DictionaryRate this definition:0.0 / 0 votes

1. Reinsurancenoun

   insurance a second time or again; renewed insurance

2. Reinsurancenoun

   a contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance

WikidataRate this definition:0.0 / 0 votes

1. Reinsurance

   Reinsurance is insurance that is purchased by an insurance company from one or more other insurance companies as a means of risk management, sometimes in practice including tax mitigation and other reasons described below. The ceding company and the reinsurer enter into a reinsurance agreement which details the conditions upon which the reinsurer would pay a share of the claims incurred by the ceding company. The reinsurer is paid a "reinsurance premium" by the ceding company, which issues insurance policies to its own policyholders. The reinsurer may be either a specialist reinsurance company, which only undertakes reinsurance business, or another insurance company. For example, assume an insurer sells 1000 policies, each with a $1 million policy limit. Theoretically, the insurer could lose $1 million on each policy – totaling up to $1 billion. It may be better to pass some risk to a reinsurer as this will reduce the ceding company's exposure to risk. There are two basic methods of reinsurance: ⁕Facultative Reinsurance, which is negotiated separately for each insurance contract that is reinsured. Facultative reinsurance is normally purchased by ceding companies for individual risks not covered, or insufficiently covered, by their reinsurance treaties, for amounts in excess of the monetary limits of their reinsurance treaties and for unusual risks. Underwriting expenses, and in particular personnel costs, are higher for such business because each risk is individually underwritten and administered. However as they can separately evaluate each risk reinsured, the reinsurer's underwriter can price the contract to more accurately reflect the risks involved.

Matched Categories

1. • Insurance

Usage in printed sourcesFrom: 

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How to pronounce reinsurance?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say reinsurance in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of reinsurance in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of reinsurance in Pythagorean Numerology is: 1

Examples of reinsurance in a Sentence

1. Georg Marti:

   However, the current value of ReAssure and also the price for its IPO will ultimately also be determined by stock market conditions, which have not been so favorable in recent times, so it could be slightly lower, the IPO makes sense because it could allow Swiss Re to deploy capital to more higher yielding businesses like life and non-life reinsurance.

2. Georg Marti:

   The IPO makes sense because it could allow Swiss Re to deploy capital to more higher yielding businesses like life and non-life reinsurance.

3. Jesus Cisneros:

   Such an agreement would set an important global precedent for how cross-border reinsurance transactions should be regulated.

4. Robert Hartwig:

   Florida remains the single largest market for property catastrophe reinsurance in the world.

5. Chris Klein:

   New entrants continue to enter the market - reinsurance has to follow.

Popularity rank by frequency of use

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=reinsurance
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Reinsurance
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Webster Dictionary
   https://www.merriam-webster.com/dictionary/reinsurance
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=reinsurance
6. ^ Usage in printed sources
   https://books.google.com/ngrams/graph?content=reinsurance