53.1 This chapter deals with the law of reinsurance in Australia and also provides a broad overview of reinsurance in New Zealand. Australia and New Zealand share a common root, derived from the common law of England and Wales. However, the law of England and Wales now serves only as a source of persuasive guidance to courts in Australia and New Zealand. In recent times, particular aspects of insurance and reinsurance law have been accorded varyingly different treatments in Australia and New Zealand. This chapter seeks to demonstrate some of the key differences.