reinsurance
Reinsurance refers to 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.
Additional Information
The reinsured may also be referred to as the "original" or "primary" insurer or the "ceding company."
Synonyms
primary insurer
