retention

Definition

In health insurance, the fraction of the premium amount which goes toward administrative costs. In reinsurance, this term refers to the amount of the insurance kept by the ceding company instead of being re-insured.

Use retention in a sentence

Administrative costs are included in this quote under the retention heading; specifically, the retention will be paying for the costs for us to run the business.

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I was glad that there was at least one title retention at the event because I liked all of the current champions.

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My boss told me that, despite his public pronouncements, he wanted our medical services company to increase the amount of premiums it kept as retention to fund our corporate costs.

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retender retention of risk