1. the act of giving back or returning something, especially territory or property, to a former owner
Usage: formal; legal
2. the practice of an insurance company transferring part of its risk to another insurer
Usage: insurance

Examples

• The treaty included provisions for the retrocession of occupied territories.
• After the war, the retrocession of the islands was negotiated.
• The insurance company arranged retrocession to limit its exposure to major claims.
• Retrocession agreements help insurers manage catastrophic risks.
• The colonial territory was returned through retrocession to its original rulers.
• The retrocession of Hong Kong to China occurred in 1997.