Russian translation: if an explanation can really help:
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12:34 Oct 14, 2004
English to Russian translations [PRO] Bus/Financial - Insurance / reinsurance
English term or phrase:commutations
as far as I understand, this is a very common procedure in reinsurance business. If You don't speak Russian You it would be very nice of you if just explain it in Engllish or French. tnx. the context follows.
Take the example of a major reinsurer in the London market. When preparing for commutations negotiations—whereby two reinsurers settle their mutual book of business—the company sends its counterpart a thorough kickoff package(...). This “commutations action pack” describes how the reinsurer’s own commutations department is organized, what its preferred approach to a commutations negotiation is, and what stages it follows.