Article 1827. Reinsurance

(1) By entering into a reinsurance contract:
a) the reinsurer obtains premiums in exchange for which it contributes, under the obligations it assumed, to covering the indemnity which the reinsured is paying on occurrence of the event that formed the object of the reinsurance;
b) the insurer, in its capacity as reinsured, assigns premiums in exchange of which the reinsurer contributes, under the obligations it assumed, to covering the indemnity which the reinsurer owed on occurrence of the event insured under the insurance contract.
(2) A reinsurance contract produces effects only between the insurer and the reinsurer.