reinsurer

Meanings

• noun

  An insurance company that assumes all or part of the risk from primary insurers.

  - "The reinsurer agreed to cover a portion of the losses for the primary insurer."
  - "The reinsurance industry helps manage risk for insurers by providing coverage for large claims."

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Variants

List of all variants of reinsurer that leads to same result
reinsure , reinsured , reinsurer , reinsurers , reinsures , reinsuring

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Etymology

origin and the way in which meanings have changed throughout history.

From the term 'reinsure' which means to insure again or to take on risk from another insurer.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Reinsurers were first established in the late 1600s to help insurers manage large risks.

2. The global reinsurance market was valued at over $300 billion in 2020.

3. Some of the largest reinsurers include Munich Re, Swiss Re, and Lloyd's of London.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Insurance: Reinsurance is a type of insurance where one insurer transfers some or all of its risk to another insurer.

2. Risk Management: Reinsurers help manage risk for insurers by providing coverage for large claims and sharing the risk.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Reinsurers play a critical role in the insurance industry by managing risk and helping primary insurers offer coverage for large losses. They are often involved in complex financial transactions and risk assessments.

How to Memorize "reinsurer"

1. visualize
   

   - Imagine a large safety net that catches the risks from primary insurers. The reinsurer is the company managing this net.

2. associate
   

   - Think of a reinsurer as a backup insurer that steps in when primary insurers face large claims.

3. mnemonics
   

   - Remember RE-insurer as Risk-Easing insurer

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