Reinsurance is the practice where one insurance company, known as the ceding company or cedent, transfers a portion of the risks and associated liabilities it has underwritten to another insurance company, known as the reinsurer.

In essence, it is insurance for insurance companies. The primary insurer pays a premium to the reinsurer, and in return, the reinsurer agrees to indemnify (reimburse) the primary insurer for a portion of the claims paid out, according to the terms of the reinsurance contract.

Welcome to our group Yes2Win Community Group! A space for us to connect and share with each other. Start by posting your thoughts, sharing media, or creating a poll.