What are parties invovled in reinsurance industry ?
1. Insurer/ Cedent/ Ceding Company: The company which cedes the business to the insurance company.
2. Broker: A person who negotiates the reinsurance contracts between the insurance company and reinsurance company. The broker generally represents the ceding company and takes commission, brokerage or other fees for proposing such business.
3. Reinsurer : The Company which takes over the business from the ceding company is known as Reinsurer.
2. Broker: A person who negotiates the reinsurance contracts between the insurance company and reinsurance company. The broker generally represents the ceding company and takes commission, brokerage or other fees for proposing such business.
3. Reinsurer : The Company which takes over the business from the ceding company is known as Reinsurer.
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