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

Examples

• The treaty included provisions for the retrocession of occupied territories.
• After the war, retrocessions of land became a major diplomatic issue.
• The insurance company arranged retrocessions to manage its exposure to natural disasters.
• Legal experts debated the terms of the retrocession agreement.
• The retrocession of the colony was completed peacefully.
• Multiple retrocessions helped spread the financial risk across several insurers.