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Insurance & Reinsurance Glossary

Plain-language definitions of technical insurance, reinsurance and surety terms — in English and Turkish.

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Other Terms

Quota Share Reinsurance
A proportional reinsurance treaty under which the cedant cedes a fixed percentage of premiums and losses on all risks in a defined portfolio to the reinsurer. For example, under a 40% quota share, the cedant cedes 40% of premiums and recovers 40% of all losses. Simple to administer and suitable for high-frequency, lower-severity portfolios.
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Underwriter
A specialist who assesses and prices insurance or reinsurance risks. The underwriter decides whether to accept a risk, on what terms and at what premium. In the Lloyd's market, underwriters sit at the box and subscribe on behalf of their syndicate. In company markets, underwriters operate within authority delegated by management.

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