Reinsurance  

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"Reinsurance: A transaction in which one party, the "reinsurer," in consideration of a premium paid to it, agrees to indemnify another party, the reinsured for part or all of the liability assumed by the reinsured under a policy of insurance that it has issued. The reinsured may also be referred to as the "original" or primary insurer or the ceding company.

Glossary of Insurance and Risk Management Terms, 11th ed. (Dallas, TX : IRMI, Inc.,  2007), 210..