Keywords:  reinsurer, cede, reject, treaty, wish
Reinsurance by offer and acceptance of individual risks whereby the reinsurer has the option to accept or reject each risk offered.
A separate reinsurance agreement that is negotiated for a particular risk or insurance policy.
This means that each risk is reinsured separately. Under this system, the reinsurer decides how much of the risk he wishes to insure, according to the merits of each individual case.