First surplus reinsurance treaty

{
  "id": "MLC-T-INS-001533",
  "term": "First surplus reinsurance treaty",
  "field": "Insurance and risk management",
  "definition": "A type of proportional reinsurance treaty where the ceding insurer retains a fixed amount of risk (its retention) and reinsures the surplus amount up to a specified multiple of that retention. For example, if the retention is $100,000 and the treaty is for five lines, the reinsurer covers up to $500,000. This treaty is common for property and marine risks.",
  "url": "https://mlchart.com/terminology/insurance/first-surplus-reinsurance-treaty/"
}