Definition of reinsurance in US English:

reinsurance

noun

  • See reinsure

    • ‘Insurance companies will spread their losses through their reinsurance contracts.’
    • ‘To be eligible for government reinsurance, businesses would have to offer affordable coverage to all of their workers.’
    • ‘Losses above $1 million also are covered by a separate reinsurance policy that they buy.’
    • ‘Insurance companies say the principal reason for the dramatic increases is the spiralling burden of reinsurance on all the major insurers.’
    • ‘Following a slow start to the year, recruitment levels in the insurance, assurance and reinsurance industries have picked up significantly this month.’

Pronunciation

reinsurance

/ˌriɪnˈʃʊrəns//ˌrēinˈSHo͝orəns/