Reinsurance contract refers to an insurance contract issued by one entity (the reinsurer) to compensate another entity for claims arising from one or more insurance contracts issued by that other entity (underlying insurance contracts). Reinsurance Contracts consists of two types of contracts:
· Reinsurance Contracts Issued: This is a contract entered into by a reinsurance company when they sell the reinsurance contract to an insurance company. Often, this is called as a reinsurance contract written by a specific reinsurer to differentiate between purchased and sold.
· Reinsurance Contracts Held: This is a contract entered into by an insurance company when they purchase reinsurance contract to mitigate the claims or losses.
Reinsurance Contracts Issued and Held
Reinsurance Contracts Issued and Held are depicted through the following diagram.
For the list of tables and mapping details, see Reinsurance Contracts Tables.