UK: an amount payable by a reinsurer to a cedant in consideration of the release of the reinsurer from all or part of the liability arising under a reinsurance contract in respect of claims incurred prior to a specified date (see also outstanding claims portfolio and premium portfolio).
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REINSURANCE,REFERENCE: See: Loss Portfolio Transfer.
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UK: The liability of an insurer for the unexpired portion of the in-force policies or outstanding losses or both for a specified segment of the insurer’s business for which reserves have been made. See LOSS PORTFOLIO TRANSFER; LOSS PORTFOLIO ENTRY; LOSS PORTFOLIO WITHDRAWAL.