Life reinsurance is insurance for life insurance companies--the transfer of some or all of an insurance risk to another insurer. The company transferring the risk is called the ceding company or cedent; the company receiving the risk is called the reinsurer or assuming company. Life reinsurers assume the risks associated with virtually every product sold by life insurers. Reinsurance allows life insurance companies to spread their risks, reduce their liabilities, and increase assets. Without reinsurance, most life insurers could not issue the size or many types of policies issued today.