Abstract: An improved method and system for configuring components of a reinsurance contract to process reinsurance business transactions. Reinsurance users may use the improved method and system for configuring a multi-dimensional reinsurance contract to process reinsurance business transactions with increased customization, re-use of existing functionality and decreased development time. An object-oriented, multi-dimensional reinsurance contract framework may represent a reinsurance contract. An object-oriented condition component framework may represent a condition dimension of a reinsurance contract. The condition component framework may permit the addition and/or modification of condition components of the reinsurance contract. These components may comprise, for example, configuring or changing the premium limits, consolidation conditions, and other conditions for a reinsurance contract. The condition components may be implemented as reusable objects.