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Definition: Reinsurance
Category: EU legislation
"Reinsurance" means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking. In the case of the association of underwriters known as Lloyd's, reinsurance also means 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. http://eur-lex.europa.eu/LexUriServ/site/en/oj/2005/l_323/l_32320051209en00010050.pdf
Source:
European Union, Directive (EC) No 2005/68 of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC (Official Journal of the European Union No L 323, 9/12/2005)
European Union, Directive (EC) No 2005/68 of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending Council Directives 73/239/EEC, 92/49/EEC as well as Directives 98/78/EC and 2002/83/EC (Official Journal of the European Union No L 323, 9/12/2005)
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