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

The report would reveal the percentages of rates attributed to reinsurance, claims costs, defense and containment costs, fees and commissions, profit and contingency and any other factor deemed necessary by regulators. —Ron Hurtibise, Sun Sentinel, 19 Mar. 2025

The filing also details changes in the company's reinsurance treaties and the impact of catastrophe losses on its financial results. —Quartz Intelligence Newsroom, Quartz, 18 Mar. 2025

Understanding how an insurer manages risk through reinsurance adds another layer of assurance when selecting a provider. —True Tamplin, Forbes, 15 Mar. 2025

According to the international reinsurance company Munich Re, global losses from natural disasters in 2024 totaled about $320 billion, with 93 percent of the damage caused by weather catastrophes. —Alice Hill, Foreign Affairs, 14 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