Important Points for IC 22 - Life Insurance Underwriting Exam

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  • Retrocessionaire is the reinsurance company that accepts the risk from another reinsurer.
  • In simple terms, a reinsurance company that sells reinsurance is known as retrocessionaire.
  • Reinsurance is the process in which a ceding company cedes part of the risk to a reinsurer.
  • Reinsurance helps to reduce the liability of the direct insurer to a large extent, and helps in sharing and spreading of risks.
  • The quantum of liability the direct insurance company keeps with itself is known as retention limit.

Life Insurance Underwriting

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