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A contract of retrocession involves which parties?

Open-access content Monday 8th May 2017

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A The direct insured and the reinsurer

B The retrocedant and the retrocessionaire

C The cedant and the reinsurer

D The reinsured and the reinsurer

Answer:

5B: When a reinsurance company reinsures an original risk, or part thereof, which they have accepted from a direct insurer -- they become known as the retrocedant in what is known as a contract of retrocession. The reinsurer who accepts the risk is called the retrocessionaire.

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