Definition of "reinsurance" []

• Insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized. (noun)

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• "Indeed, I do not know that such reinsurance is not already available in private markets and just needs to be prodded a bit."
• "Shares in German reinsurance giant Munich Re rose 1.6%."
• ""We are pleased with the composition of our existing reinsurance portfolio, despite a nominal loss in the quarter and we continue to execute our strategy to develop long term reinsurance relationships," said Bart Hedges, Chief Executive Officer of Greenlight Re."