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Reinsurance is essentially insurance for insurance companies. It is a way for primary insurers to protect against unforeseen or extraordinary losses. Reinsurance also serves to limit liability on specific risks, to increase an insurer's capacity to write business and to help insurers stabilize their business in the face of the wide swings in profit and loss margins, which are inherent in the insurance business.
($000)
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(1) After dividends to policyholders.
(2) Includes National Indemnity Co.'s loss portfolio and quota share agreements with affiliated GEICO companies.
Source: Reinsurance Association of America.
($000)
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(1) See Reinsurance Underwriting Review 2022 notes posted at www.reinsurance.org for a list of affiliated companies included.
Source: Reinsurance Association of America.