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(of an insurer) transfer (all or part of a risk) to another insurer to provide protection against the risk of the first insurance.
- ‘But in each case the whole of the risk was reinsured through the London market so that neither Colombian insurer retained any part of the risk themselves.’
- ‘An insurance company needs to reinsure its clients to minimize losses in case of incidents which result in claims.’
- ‘The Reinsurers received almost two thirds of the whole premium for reinsuring only part of the risk.’
- ‘The industry reinsures mostly in South Africa and Europe at the moment.’
- ‘They bought cover, often through bulk contracts off the big insurance giants, who in turn reinsured their risk elsewhere.’
- ‘Most insurance companies, Rosemary says, make sure that as a matter of course they reinsure their risks.’
- ‘They could be in for nasty surprises because of direct exposure or the miscalculation of the quantities that they have reinsured, he said.’
- ‘Subtracting the amount reinsured, this company's net exposure on insurance written is $636 billion.’
- ‘Property insurance and business interruption insurance have been the hardest hit, but employer liability insurance is also increasing as insurers are finding it harder to reinsure certain risks.’
- ‘Like many retail insurers, they offer a custom package direct to buyers which is reinsured through a larger firm.’
- ‘They only reinsures about 0.05% of its policies.’
- ‘They wish to be reinsured by the states because of the risk for them to suffer heavy financial losses.’
- ‘The risks were widely reinsured across of pool of insurers.’
- ‘It is not for nothing that the laws of the land prescribe a minimal portion of the insurance business to be compulsorily reinsured with another insurer/reinsurer.’
- ‘The other companies are telling us they will reinsure us.’
- ‘A reinsurer could, of course, make a special contract with an insurer and agree only to reinsure some of the risks covered by the policy of insurance, leaving the insurer to bear the full cost of the other risks.’
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