Pass-through structure
\pæs\ \θru\ \ˈstrʌkʧər\
A pass-through structure is a type of intermediation (see intermediary). Under this structure, any longevity risk, counterparty risk or other financial risks are not retained by the intermediary.
This allows for a more direct way of transacting with reinsurers and is cost effective as the intermediary does not require compensation for retaining any risks.