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retrocede |
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Subsequent legislation allowed states to retrocede jurisdiction, which has occurred in some areas. Pursuant to substantially similar separate management agreements concluded between Fortress and each of the taxpayers, Fortress was authorized to act as agent of each company to underwrite, retrocede and manage reinsurance on each company's behalf in the U. At the last revision of the voluntary cessions in fiscal year 2003, Malaysian Re experienced a sharp decline in gross premium income, but the corresponding reduction in the net premium income was marginal as the requirement to retrocede a portion of the voluntary cessions back to the industry was no longer applicable. |
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