Life Reinsurance
Definition of "Life reinsurance"
System whereby a life insurance company (the reinsured) reduces its possible maximum loss on either an individual life insurance policy (facultative reinsurance) or a large number of life insurance policies (automatic reinsurance) by giving (ceding) a portion of its liability to another insurance company (the reinsurer).
Popular Insurance Terms
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Net profit of a business, less dividends. Reinvestment of retained earnings enables an insurance company to write more business from a stronger capital base. Contributions to retained ...
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