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retrocede |
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The written premium ceded to the reinsurer is more than 50% of the reinsurer's direct plus assumed premium, or 25% or more of the written premium ceded to the reinsurer has been retroceded back to the company or its affiliates, except in the case of certain inter-company pooling or captive arrangements. In view of the negative earnings impact of the 2005 events, the company has increased the amount of retroceded property risk going forward. LLGRC continues to carry high levels of reinsurance recoverables as a result of writing financing agreements, which were subsequently retroceded to its affiliates. |
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