Similar to co-insurance, but referring to reinsurance of risk rather than insurance.
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UK: 1. Provision in an excess of loss treaties making the reinsured a co-reinsurer. The clause requires the reinsured to retain net and unreinsured a part of the risk, in addition to the deductible, for its own account. Example: the reinsurer covers 95 per cent of the excess layer while the reinsured accepts 5 per cent of that layer and is not authorised to reinsure it. See LMX. 2. Several reinsurers sharing a reinsurance contract. Each co-reinsurer has a direct contract with the reinsured.