Insurance And Reinsurance Business. The reinsurer company) so as to reduce the risk of big claims which in effect protects the ceding company from insolvency in case the risk triggers during the claim period. A reinsurance contract that involves an insurance business acquiring insurance from another insurer is known as treaty reinsurance.
Takaful is a form of islamic ‘insurance’. It is the practice where the insurers transfer their portion of risk portfolios to other parties. The reinsurance business operates in the shadows, not in a.