Indemnity reinsurance definition

Indemnity reinsurance means a transaction in which one (1) insurer agrees to indemnify another insurer for all or a portion of the insurance, annuity, and endowment risks or liabilities of the ceding insurer.
View Source
Indemnity reinsurance means a form of reinsurance under which insurance risk is transferred from the ceding company to the reinsurer.
View Source

Examples of Indemnity reinsurance in a sentence

  • This is an agreement for Indemnity reinsurance (the "Agreement") solely between GE Life and Annuity Assurance Company, of Virginia (the "Company") and Scottish Re (U.S.), Inc., domiciled in Delaware with offices in North Carolina (the "Reinsurer"), collectively referred to as "the parties".

  • Indemnity reinsurance agreements are intended to limit a life insurer's maximum loss on a large or unusually hazardous risk or to diversify its risks.

  • Indemnity reinsurance does not discharge the original insurer's primary liability to the insured.

  • This Agreement is an Indemnity reinsurance agreement solely between the Ceding Company and the Reinsurer, and performance of the obligations of each party under this Agreement will be rendered solely to the other party.