Definitions of "retrocession"
  1. Describes the act of giving back ownership of a property to its previous or rightful owner
  2. The action of returning a particular right or authority that was previously given or granted
  3. Refers to the method in insurance where the reinsurer shares the risk taken in an insurance agreement with another insurance firm
  4. The quantity that is transferred or allocated in the process of redistributing risk in an insurance agreement
How to use "retrocession" in a sentence
  1. After the court case, a retrocession of the ownership rights to the property was carried out.
  2. Upon receiving sufficient evidence, the retrocession of jurisdiction was initiated immediately.
  3. The reassigned policy started with a retrocession from the original reinsurer to another insurance company.
  4. Due to the high risks involved, a significant retrocession was made to another insurance company.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z