The contract clause that specifies the types, timing and frequency of reports that are due to the reinsurer and usually outlines the format and content of the reports. Stipulates when adjustments and balances (if any) are due to either party.

A clause stating how much a company placing reinsurance intends to retain.

A contract that covers past insurable losses/losses that have already occurred, such as a loss portfolio transfer.

The action of a reinsurer of reinsuring another reinsurer for its liability assumed under one or more reinsurance contracts with primary insurance companies or with other reinsurers. The reinsurer seeking protection may purchase a reinsurance contract or contracts that will indemnify it within certain parameters for certain described losses it may incur under that reinsurance contract or contracts. This action is described as transferring the risk or a part of the risk. The reinsurer seeking protection (the buyer) is called the retrocedent and the reinsurer providing the protection (the seller) is called the retrocessionaire.
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UK: to cede a risk assumed under a reinsurance contract.

A reinsurer who reinsures all or part of its assumed reinsurance with another reinsurer

REINSURANCE: A Reinsurance of a Reinsurance i.e., where the Insurers desires to limit his liability on Reinsurance accepted and in turn gives off part of his acceptance to another Company.
A reinsurance of a reinsurer by another reinsurer. It serves to ‘lay-off’ risk.
A reinsurance of reinsurance. Example Company “B” has accepted reinsurance from Company “A”, and then obtains for itself, on such business assumed, reinsurance from Company “C”. This secondary reinsurance is called a Retrocession. The transaction whereby a reinsurer cedes to another reinsurer all or part of the reinsurance it has previously assumed.
US: A transaction in which a reinsurer transfers risks it has reinsured to another reinsurer.
REINSURANCE:As per IRDA’s General Insurance-Reinsurance Regulations, 2000 Retrocession means the transaction whereby a reinsurer cedes to another insurer or reinsurer all or part of the reinsurance it has previously assumed.
See: “Reinsurance, Retrocession.”
UK: the reinsurance of reinsurance business, providing cover for the business in excess of that which the reinsurer wishes to retain for its own account.
REINSURANCE: The reinsuring of reinsurance. A reinsurance transaction whereby a reinsurer, known as a retrocedent, cedes all or part of the reinsurance risk it has assumed to another reinsurer, known as a retrocessionaire. See Reinsurance.

REINSURANCE: A reinsurer who assumes reinsurance from another reinsurer.
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The reinsurer under a retrocession.
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UK: the reinsurer who accepts retroceded business.

The assuming reinsurer in a retrocession, where the ceding reinsurer is known as the retrocedent. Reinsurer of a Reinsurer.
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A retrocessionnaire is a reinsurer that contractually accepts from another reinsurer a portion of the cedant’s underlying reinsurance risk.

REINSURANCE: A plan or method which permits adjustment of the final reinsurance ceding commission or premium on the basis of the actual loss experience under the subject reinsurance treaty – subject to minimum and maximum limits
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A rating arrangement in which the final premium for insurance coverage is not determined until all claims are closed. The final premium is determined by the insured’s actual loss experience during the policy period. Such adjustments include additional premiums, experience refunds, and for multiple year contracts, early termination penalties, or changes to coverage in subsequent years.
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UK: A system when the rate to be charged for the (re)insurance is determined at the expiry of the policy taking account of the experience during the policy period subject to a maximum and minimum premium.
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A type of plan sometimes used when the insured is a large entity. Under this type of plan, the final premium of a policy is not calculated until close to the end of the coverage period. The final premium is calculated, within a certain maximum and minimum, based on the insured’s actual loss experience for the period that just passed.