Reinsurance Practice and the Law
Chapter 2
THE PARTICIPANTS AND COMMON REINSURANCE ARRANGEMENTS
REINSUREDS AND REINSURERS
2.1
An American court once stated the nature of the relationship between reinsurer and reinsured in this way: “A true reinsurer is merely an insurance company or underwriter which deals only with other insurance companies as its policyholders” (Iowa Mutual Tornado Insurance Ass’n v. Timmons
1).