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

Cathal Carr, founder of the reinsurance company OAK Re, says that companies like his would generally look at the previous 50–100 years’ worth of data to model risks. —Christine Ro, Forbes.com, 22 July 2025

Hail is a leading cause of storm damage in the U.S. and was responsible for tens of billions in property losses last year, according to Gallagher Re, a global reinsurance firm that tracks such data. —Evan Bush, NBC news, 20 July 2025

If Hurricane Andrew were to strike the same path today, the losses would be nearly three times higher than in 1992, according to an analysis by Swiss Re, one of the world’s leading reinsurance companies. —Denise Hruby updated July 13, Miami Herald, 13 July 2025

Eager to collect as many premiums as possible, the syndicate bought a reinsurance policy that covered substantial losses. —Dan Piepenbring, Harpers Magazine, 16 July 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