Difference between Reinsurance Ceded Reserves versus Reinsurance Receivables

I felt the need to write something over "Reinsurance Ceded Reserves" and "Reinsurance Receivables" both are reported on Assets' side of the Balance Sheet in the financial reports of insurance companies. Analysts while doing their analysis, they get confused and consider that both type of labels have the same concept, which is wrong. Please find below some explanation for both of these concepts with the help of an example:

1. Reinsurance Ceded Reserves is reported on Assets side because it is actually the ceded recoverable estimated for a particular period of time, against the Gross Policy Reserves, which will be recovered from the reinsurer.

Possible Components:
The possible components that we could find sometimes on the face of the balance sheet on asset side while sometimes under the bifurcation of the total amount of reinsurance ceded reserve somewhere in the notes of the financial statement, may be as under:

• Ceded/Reinsurance unearned premiums reserves/liabilities
• Ceded/Reinsurance liability reserves/liabilities
• Ceded/Reinsurance outstanding reserves/liabilities

Note: The main thing that we need to note that companies define it as "Estimated" or "Actuarial" amount of the reserve that is estimated to be recovered from the reinsurer. 

2. Reinsurance Receivables is an asset which sometimes reported on the face of the balance sheet on the asset side or sometimes reported within the breakout of Insurance Receivables. All those receivables or recoverable, that are settled amount of losses, insurance companies submit to the reinsurers are called reinsurance receivables. 

Main difference between these two concept is that the first one is the Estimated/Actuarial amount that company estimates to receive from reinsurer while the second one is the settle amount of receivable which company already have settled with its policyholder and then submitted further to its reinsurer to recover. 

Please have a look at the below table encircling these two different concepts:

Hope it will help. Thanks