Presumably reinsurance claims are less frequent, and thus have some sort of different pricing structure.

The wikipedia page on the subject is pretty interesting: https://en.wikipedia.org/wiki/Reinsurance

Links to this, which must be the coolest-sounding organization in the entire insurance industry:

https://en.wikipedia.org/wiki/International_Society_of_Catas...

Oh but you haven't heard of the 'Equitable Life Assurance Society'. Not just an organisation but a proper business until the 21st century.

Originally the "Society for Equitable Assurances on Lives and Survivorships", but obviously that wasn't hip enough to survive past the 19th century.

https://en.wikipedia.org/wiki/The_Equitable_Life_Assurance_S...