reinsurance

noun re·in·sur·ance \ ˌrē-ən-ˈshu̇r-ən(t)s , ˌrē-ən-ˈshər- also (ˌ)rē-ˈin-ˌshu̇r- , (ˌ)rē-ˈin-ˌshə̇r- \

|Updated on: 12 Jun 2018

Definition of reinsurance

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

Recent Examples of reinsurance from the Web

Argo Group, which has its U.S. headquarters in San Antonio, is an international underwriter of specialty insurance and reinsurance products in areas of the property and casualty market.

— patrick danner, San Antonio Express-News, "Argo Group’s earnings tumble 32% in 1Q," 4 May 2018
Those who make the decisions on underwriting — who decide on reinsurance — are the managing agents.

— mimi whitefield, miamiherald, "Lloyd’s of London’s busy year in the Americas | Miami Herald," 2 Apr. 2018
With a reinsurance program, rates could be reduced by as much as 30 percent.

— andrea k. mcdaniels, baltimoresun.com, "Maryland program to stabilize Obamacare hits snag over dispute about payments to insurers," 18 May 2018
As part of a risk management strategy that incorporates reinsurance and government disaster funds, the bonds have proved effective, a spokesman for the Finance Ministry said in a statement.

— latimes.com, "Mexico's disaster bonds were meant to provide quick cash after hurricanes and earthquakes. But it often hasn’t worked out that way," 8 Apr. 2018
On Tuesday, the insurance firm said its pretax catastrophe losses, net of reinsurance, totaled $354 million during the quarter due to winter storms, mudslides and hail, compared with $347 million a year earlier.

— nicole friedman, WSJ, "Travelers’ Profit Gets Lift From Premiums, Investments," 24 Apr. 2018
SoftBank also reportedly plans to buy a sizable stake in Swiss Re AG, the reinsurance giant.

— erin griffith, WIRED, "SoftBank's Futuristic Vision Fund Takes on the Real (Estate) World," 16 Apr. 2018
In an annual study released Tuesday, the Swiss reinsurance company said total losses from natural and man-made disasters hit $337 billion in 2017 — twice as high as the year before and second only to 2011.

— Fox News, "2017 saw record insured losses from disasters, study finds," 10 Apr. 2018
Another six states are taking steps to launch their own reinsurance programs.

— michael olive, The Christian Science Monitor, "States adopt 'reinsurance pools' to keep premiums low," 10 Apr. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'reinsurance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of reinsurance

1705

in the meaning defined above

See Words from the same year

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Law Dictionary

reinsurance

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

legal Definition of reinsurance

: 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 3