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.
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