Reinsurance is an agreement by which one insurer indemnifies another insurer in part, or in total, for the risks of a policy issued by that other insurer, helping manage and mitigate potential losses.
Shirkah refers to an essential concept in Islamic finance, embodying the idea of partnership and collaboration where two or more parties share profits and losses from a venture according to an agreed ratio, underscoring principles of risk-sharing and fairness.
