Insurance
Retrocession Premium Paid
A reinsurer further cedes its own accepted reinsurance risk to a retrocessionnaire.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Retrocession Premium Expense | Expense (+) | 10,000.00 | - |
| Retrocession Payable | Liability (+) | - | 10,000.00 |
💡 Accountant's Note
Retrocession is 'reinsurance of reinsurance.' Large reinsurers use retrocession to further distribute risk. It is the final layer of risk transfer in the global insurance/reinsurance chain.
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