cession

/ˈseʃən/ noun [C or U]

Definition

› LAW an occasion when one person or country officially gives land or property to another, or the act of officially giving land or property away

› INSURANCE the act of passing risk from an insurance company to its reinsurer (= a company that insures an insurance company to protect it against large demands from its customers): Reinsurance cessions reduce claims and claim expenses.

(Definition of cession noun from the Cambridge Business English Dictionary © Cambridge University Press)

+ Free Dictionary Toolbar for Browsers
+ Add Dictionary Search to iGoogle and your website

+ Become a fan on Facebook
+ Follow us on Twitter!

Browse the Thesaurus

Business
Clothes
Education
Finance
Light and colour
Personal care

Our dictionaries

British English
American English
Business English
Learner's Dictionary
Essential British English
Essential American English
English-Spanish
Español-inglés
English-Turkish

Browse the Dictionary

certified mail noun
certified management accountant noun
certified public accountant noun
certify verb
cessation noun
cession noun
CEST noun
CET noun
cf.
CFA noun
CFD noun

Word of the Day

everything under the sun

everything that exists or is possible

Word of the Day ►

Blog

Read our blog about how the English language behaves.

Learn More ►

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.