What is prior cession group in SAP FS-RI - Reinsurance?

SAP Term: prior cession group

• Component: FS-RI

• Component Name: Reinsurance

• Description: Reinsured risks with the category "Prior Cession" are depicted in the system by prior cession groups, as well as their participations. A prior cession is used if you want to create a dedicated reinsurance policy for a risk before you apply the obligatory reinsurance programs. Since several insured risks can belong to this kind of risk, these risks can be bundled in a prior cession group to form a joint prior cession. It is also possible to reinsure this group with not only one but several prior cessions. This means there are "m" risks for a prior cession group with "n" prior cessions. "m" and "n" can be independent values between one and infinity.

Smart SAP Assistant

• Key Concepts: 
  Prior cession group is a feature of the FS-RI Reinsurance component of SAP. It is used to group together reinsurance contracts that have been ceded to the same reinsurer. This allows for easier management of the contracts and helps to ensure that all relevant information is available in one place. 
  
  How to use it: 
  Prior cession groups can be created in the FS-RI Reinsurance component of SAP. To do this, go to the ‘Cession Groups’ tab and select ‘Create’. Enter the details of the group, such as the name and description, and then select ‘Save’. Once saved, you can add reinsurance contracts to the group by selecting ‘Add Contract’. 
  
  Tips & Tricks: 
  When creating a prior cession group, it is important to ensure that all relevant information is included in the description. This will help to ensure that all contracts are correctly grouped together and that all relevant information is available in one place. 
  
  Related Information: 
  For more information on prior cession groups, please refer to the SAP Help documentation on FS-RI Reinsurance.