The insured under a policy which becomes the subject of reinsurance.

The insurer which writes a policy for a policyholder (which may or may not create the need for reinsurance).
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The underwriter who writes the original risk that is the subject matter of the Reinsurance contract.

The net premium income of a ceding insurer.

The policy written by the original insurer.
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The Policy setting out the conditions of the Insurance written by the original insured.

The rate of premium charged on an insurance which has become the subject of reinsurance.

A reinsurance expression signifying that the reinsurance is granted on the same conditions and at the same rate of premium as the original insurance.
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UK: reinsurance granted on the same conditions and the same rate of premium as the original insurance.

A method of funding by the reinsurer using a cash advance in connection with a securitization provision contained in a reinsurance agreement requiring the reinsurer to secure its outstanding obligations under the agreement as of a particular point in time. The cash advance is held by the company in trust for the reinsurer in an interest bearing account or invested by the company in acceptable securities. The amount of the cash advance is subject to adjustment at given intervals as the reinsurer’s obligations change, as defined in the securitization provision. Generally, should the reinsurer fail to perform its payment obligations under the reinsurance agreement, the company may utilize the outstanding cash advance to meet such obligations. Also see Trust and Unauthorized Reinsurance.

A reinsurance treaty may provide that if claims payable by the reinsurer exceed the reserve held by the original insurer for the payment of claims the reinsurer shall make an immediate payment, or advance, without waiting for the claims to appear in the periodic statements.
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UK: A payment made under a reinsurance contract or treaty whereby an advance payment is made in respect of outstanding claims that will come into account in a subsequent periodic settlement when the actual claim amount has been determined.

An amount payable by a cedent to a reinsurer in consideration of the reinsurer accepting liability arising under a contract of reinsurance in respect of reinsurance claims incurred and arising prior to a fixed date.

For an individual claim, an estimate of the amount the insurer expects to pay for the reported claim, prior to the final settlement of the claim. For total claims , estimates of expected payments for all reported and unreported claims. May include amounts for loss adjustment expenses. See Incurred But Not Reported (IBNR), Incurred Losses and Loss Development.