Question

What is "Retrocession" in the context of reinsurance?

a.

The reinsuring of reinsurance

b.

The process of transferring insurance liability from a ceding insurer to a reinsurer

c.

The assumption of risk by a retrocessionnaire

d.

The termination of a reinsurance contract by the reinsurer

Posted under IC85 Reinsurance Management

Answer: (a).The reinsuring of reinsurance Explanation:"Retrocession" can be defined as the reinsuring of reinsurance. It involves a separate contract and document from the original reinsurance agreement, where the assuming reinsurer is known as the retrocessionnaire.

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