An inexhaustible good nature is one of the most precious gifts of heaven, spreading itself like oil over the troubled sea of thought, and keeping the mind smooth and equable in the roughest weather.
Reinsurance ceded refers to the portion of risk that a primary insurer passes to a reinsurer. It allows the primary insurer to reduce its risk exposure to an insurance policy it has underwritten by passing that risk to another company. Primary insurers are also also referred to as the ceding company while the reinsurance company is also called the accepting company. In exchange for taking on the risk, the reinsurance company receives a premium, and pays the claim for the risk it accepts.