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Vocabulary Builder — Essay & Answer Writing

Cession

noun / SESH-un / Hard
Meaning

The act of formally giving up or transferring rights, property, or territory to another party

Origin / Etymology

Latin cessio (a giving up), from cedere (to yield, to go)

Synonyms
Transfer Surrender Relinquishment Handover
Antonyms
Acquisition Annexation Retention
Example Sentence
"GIC Re receives a mandatory 5% cession from all general insurers operating in India, meaning every general insurer must transfer at least 5% of their premium to the national reinsurer."
🎯 UPSC Usage

Used in insurance (mandatory cession to GIC Re), international law (cession of territory under treaties), and constitutional law (cession of sovereign rights). In insurance context, cession is the portion of risk transferred to a reinsurer. Know GIC Re's mandatory 5% cession under IRDAI regulations.

Relevant Subjects
Economy
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