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The Insurance Times
d. Cession:
The amount given off by way of reinsurance by
the ceding company and, therefore, the amount
accepted by the reinsurer.
e. Retrocession:
It is a reinsurance of a reinsurance. It enables a
reinsurer to limit his liability on reinsurances
accepted. The reinsurer gives off part of his
acceptances to another company.
f. Reserves:
The portion of premiums/losses retained by the
insurer for due performance of the obligations of
the reinsurer under the treaty.
g. Retention:
The amount of liability, the ceding company keeps
for its account on a risk.
h. Profit commission:
An additional commission payable by the reinsurer
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