Insurance
Inward Reinsurance Accepted — Premium Income
Acting as a reinsurer and accepting cessions from other insurance companies.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Reinsurance Premium Receivable (Accepted) | Asset (+) | 50,000.00 | - |
| Reinsurance Premium Income (Accepted) | Revenue (+) | - | 50,000.00 |
💡 Accountant's Note
Large insurers also act as reinsurers, accepting risk from smaller companies. This is inward (or assumed) reinsurance. The premium income and associated claims are tracked separately from the direct insurance book.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.