reinsurance

noun

re·​in·​sur·​ance ˌrē-ən-ˈshu̇r-ən(t)s 

ˌrē-ən-ˈshər-,

 also  (ˌ)rē-ˈin-ˌshu̇r-,

(ˌ)rē-ˈin-ˌshə̇r-

: insurance by another insurer of all or a part of a risk previously assumed by an insurance company

Examples of reinsurance in a Sentence

Recent Examples on the Web

Insurance companies use layers of protection, such as reinsurance, cash reserves, diversification, and monitoring market conditions, to protect against large-scale losses. —True Tamplin, Forbes, 15 Mar. 2025

For more than 40 years, NOAA’s database tracked extreme weather and climate disasters that cost over $1 billion — standardized, inflation-adjusted, and aggregated from private insurers, reinsurance models, and local governments. —Phil De Luna, Forbes.com, 8 May 2025

Munich Re, the global reinsurance giant backing many American property insurers, depends on it, and Swiss Re, a second reinsurance powerhouse, also routinely cites NOAA in its reports. —Abrahm Lustgarten, ProPublica, 24 Apr. 2025

The company expects claims expenditure linked to the event to total 1.2 billion euros for property-casualty reinsurance and global specialty insurance. —Chloe Taylor,holly Ellyatt, CNBC, 26 Feb. 2025

Word History

First Known Use

1705, in the meaning defined above

Rhymes for reinsurance

• reassurance
• assurance
• insurance
• durance

Legal Definition

reinsurance

noun

re·​in·​sur·​ance ˌrē-ən-ˈshu̇r-əns, -ˈin-ˌshu̇r- 

: insurance or indemnification by a second insurer of all or part of a risk assumed by another insurer as contracted for by the first insurer see also cede compare direct insurance, retrocession sense 3