assumption reinsurance

  • Reinsurance of the entire business, part of the business, or block of policies under an arrangement whereby the purchasing company becomes solely liable to the policyholders on the contracts transferred.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).