/ˌrɛtrəˈsɛʃən/ – Noun
Definition: 1. sự nhân nhượng trở lại;
2. việc nhượng lại, việc chuyển nhượng một phần rủi ro trong công ty bảo hiểm khác.
A more thorough explanation: Retrocession refers to the process by which a reinsurer transfers a portion of the risk it has assumed to another reinsurer. It involves the reinsurance of reinsurance.
Example: The insurance company entered into a retrocession agreement with another insurer to transfer a portion of its risk exposure.