These agreements are usually documented as reinsurance contracts between the parties.

Trading was suspended on June 11 after the company said it was investigating reinsurance contracts.

Others participate through reinsurance contracts with direct providers.

Lloyd's can ask the member syndicates to contribute an additional $435 million, and the fund is protected by reinsurance contracts.

And two weeks ago, Nymex announced the introduction of its new reinsurance contracts, which will allow for the trading of property damage risk exposures.

A long series of deals between Reciprocal and General Re from 1990 to 2002 were simply loans masquerading as reinsurance contracts, regulators say.

Treaty Reinsurance means that the ceding company and the reinsurer negotiate and execute a reinsurance contract.

"Calculating the Hedging Layer for a Synthetic Reinsurance Contract."

Documents before the commission also suggest that HIH may have used sham reinsurance contracts to inflate its short-term profits artificially.

Reinsurance contracts are those under which an original insurer is indemnified by a reinsurer for a risk undertaken by the original insurer.

The department wants to make sure "proper accounting treatment has been applied," to finite reinsurance contracts, said Howard Mills, the acting superintendent of insurance for the state.

The way it worked was simple: A.I.G. would pass risky underwriting to Union Excess through reinsurance contracts.

All valid insurances and portfolios, debts, as well as reinsurance contracts preserved their validity and were transferred by rights to DZI.

The report says the accounting community continues to debate the issue of when finite reinsurance contracts qualify as reinsurance accounting, calling the issue "complex and highly subjective."

The reinsurer who sets the terms (premium and contract conditions) for the reinsurance contract is called the lead reinsurer; the other companies subscribing to the contract are called following reinsurers.

The documents also showed that CNA Insurance Companies, a unit of Loews Corporation paid $2.3 million to settle two separate cases involving insurance and reinsurance contracts in Cuba.

In addition, the insurers must testify that they have proper documentation indicating "that neither written nor oral agreements are in effect that would potentially alter a reinsurance contract's terms," a statement read.

The agency also issued its first reinsurance contracts signed in collaboration with Export Development Canada and the United States' Overseas Private Investment Corporation (OPIC).

All claims from cedant underlying policies incepting during the period of the reinsurance contract are covered even if they occur after the expiration date of the reinsurance contract.

This relates to the Financial Services Authority knowingly allowing a worthless so-called "reinsurance contract" to be valued - in order to keep Equitable nominally solvent - as a real asset valued at £800m.

The state-owned Korea National Insurance Corp sought reinsurance contracts with international reinsurers and then submitted fraudulent claims; the contracts were governed by North Korean law and legal challenges were fruitless.

That led him to specialize in business-to-business exchanges, and Sculley Brothers has invested in four - including Catex, which trades catastrophe reinsurance contracts and BigMachines.com, where companies can buy and sell industrial equipment.

In the event of a loss, the policyholder would claim against the local insurer under the local insurance policy, the local insurer would pay the claim and would claim reimbursement under the reinsurance contract.

Last November, MBIA disclosed that it had received subpoenas from both the Securities and Exchange Commission and the New York attorney general's office related to nontraditional reinsurance contracts, also known as finite insurance.

In catastrophe excess of loss, the cedant's retention is usually a multiple of the underlying policy limits, and the reinsurance contract usually contains a two risk warranty (i.e. they are designed to protect the cedant against catastrophic events that involve more than one policy, usually very many policies).