Definitions

1. noun

An insurance company or organization that provides insurance to other insurance companies, known as cedents, to cover their risks.

“The reinsurer took on the risk of the policy and paid out to the cedent in case of a claim.”

2. noun

A person or organization that reinsures, or takes on, a risk previously insured by another insurance company or organization.

“The reinsurer evaluated the risk and decided to take it on, offering a competitive premium to the cedent.”