reinsurance
noun[U]
INSURANCE(alsore-insurance)uk/ˌriːɪnˈʃɔːrəns/usinsuranceboughtby aninsurancecompanytoprotectitself againstlargedemandsfromitscustomers:
Thecostof reinsurance hasrisendramatically.
buy/purchase/sell reinsuranceItplanstobuyabout $335 million of reinsurance toprotectagainstenvironmentaland other liabilities.
areinsurancebusiness/broker/company
thereinsuranceindustry/market