Reinsurance activity definition

Reinsurance activity means the drafting, offering, conclusion and performance of reinsurance contracts on the transfer, in part or wholly, of underwritten risk to a reinsurance company;
Sample 1Sample 2Sample 3
Reinsurance activity means the conclusion and implementation of reinsurance contracts by the licensed companies in order to carry out insurance activity, insuring that part of risk, which exceeds the maximal coverage by the insurance company.
Sample 1Sample 2
Reinsurance activity means an entrepreneurial activity that involves insuring the risk related to a full or partial fulfillment of obligations of other insurers towards their policyholders;
Sample 1

Examples of Reinsurance activity in a sentence

  • Reinsurance activity may be carried out by reinsurance companies that have been licenced by the Authority.

  • Reinsurance activity is monitored and managed via the Reinsurance Steering Committee and a review of reinsurer effectiveness is performed annually.

  • Reinsurance activity does not relieve the respective company from its direct obligations to its policyholders.

  • Persons entitled to carry out reinsurance business Reinsurance activity may only be carried out by Colombian insurance companies, Colombian reinsurance companies and foreign reinsurers.

  • Reinsurance activity is reported in reinsurance recoverable, funds held by reinsurers, amounts receivable under reinsurance contracts, claims unpaid, ceded reinsurance premiums payable and funds held under reinsurance treaties in the statutory statements of admitted assets, liabilities, and surplus.

  • Reinsurance activity shall be carried out by the reinsurance company, which is licensed by the Authority.

  • The Law on Insurance and Reinsurance activity partially transposes the provisions of the EU Directive 2009/138/EC by establishing new capital and prudential requirements, governance, and risk management standards for insurance companies.

  • Reinsurance activity in the market of the Republic of Belarus: current practice and directions for improvement.

  • GLP conducts insurance activity in all life insurance categories defined in the Act on Insurance and Reinsurance activity, except for pension insurance.

  • Reinsurance activity in Brazil has begun in 1808 with the ports opening to the international trade.


More Definitions of Reinsurance activity

Reinsurance activity means business activity consisting in accepting risks ceded by an insurance undertaking, an insurance undertaking from another Member State, a third-country insurance undertaking, or by a reinsurance undertaking, a reinsurance undertaking from another Member State, or a third-country reinsurance undertaking; reinsurance activity also includes the acceptance of risks, ceded by any member of the association of underwriters known as Lloyd’s, by an insurance or reinsurance undertaking, an insurance or reinsurance undertaking from another Member State, or a third-country insurance or reinsurance undertaking.
Sample 1Sample 2
Reinsurance activity means economic and commercial activities whereby risk transferred by an insurance or reinsurance undertaking is assumed. Activities whereby an insurance or reinsurance undertaking, except for Lloyd’s Association, assumes risk transferred by any member of Lloyd’s shall also be considered as reinsurance activity.
Sample 1

Related to Reinsurance activity

  • Insurance Act means the Insurance Act, 1938;

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Insurance Fund means the pest control insurance fund established pursuant to this compact.

  • insurance period means a contribution period or an equivalent period;

  • Insurance Authority means the Insurance Authority of Hong Kong established pursuant to section 4AAA of the Insurance Ordinance.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Flood Insurance Study means the official report provided by the Federal Insurance Administration that includes flood profiles, the Flood Insurance Rate Map, the Flood Boundary and Floodway Map, and the water surface elevation of the base flood.

  • Flood Insurance Study (FIS means an examination, evaluation, and determination of flood hazards, corresponding water surface elevations (if appropriate), flood hazard risk zones, and other flood data in a community issued by the FEMA. The Flood Insurance Study report includes Flood Insurance Rate Maps (FIRMs) and Flood Boundary and Floodway Maps (FBFMs), if published.

  • Insurance Provider s Tender” means the completed Tendering Document submitted by the Insurance Provider to the Procuring Entity

  • Insurance carrier means every insurance carrier duly

  • Reinsurance intermediary means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Unemployment Insurance means the contribution required of Vendor, as an employer, in respect of, and measured by, the wages of its employees (or subcontractors) as required by any applicable federal, state or local unemployment insurance law or regulation.