  The aim of this paper is to introduce an insurance model allowing reinsurance
and dividend payment. Our model deals with several homogeneous contracts and
takes into account the legislation regarding the provisions to be justified by
the insurance companies. This translates into some restriction on the (maximal)
number of contracts the company is allowed to cover. We deal with a controlled
jump process in which one has free choice of retention level and dividend
amount. The value function is given as the maximized expected discounted
dividends. We prove that this value function is a viscosity solution of some
first-order Hamilton-Jacobi-Bellman variational inequality. Moreover, a
uniqueness result is provided.
