Search Definitions

A component of the carrying amount of the asset or liability for a group of insurance contracts representing the unearned profit the entity will recognise as it provides insurance contract services under the insurance contracts in the …

The period during which the entity provides insurance contract services . This period includes the insurance contract services that relate to all premiums within the boundary of the insurance contract …

A difference between: (a)             for premium receipts (and any related cash flows such as insurance acquisition cash flows and insurance premium taxes) – the estimate at the beginning of the period of the amounts expected in the period and the actual …

The risk of a possible future change in one or more of a specified interest rate, financial instrument price, commodity price, currency exchange rate, index of prices or rates, credit rating or credit index or other variable, provided in the case of a …

An explicit, unbiased and probability-weighted estimate (ie expected value) of the present value of the future cash outflows minus the present value of the future cash inflows that will arise as the entity fulfils insurance contracts , including a risk …

A set of insurance contracts resulting from the division of a portfolio of insurance contracts into, at a minimum, contracts issued within a period of no longer than one year and that, at initial recognition: (a)             are onerous, if any; (b) …

Cash flows arising from the costs of selling, underwriting and starting a group of insurance contracts (issued or expected to be issued) that are directly attributable to the portfolio of insurance contracts to which the group belongs. Such cash flows …

A contract under which one party (the issuer) accepts significant insurance risk from another party (the policyholder ) by agreeing to compensate the policyholder if a specified uncertain future event (the insured event ) adversely affects the …

The following services that an entity provides to a policyholder of an insurance contract : (a)             coverage for an insured event (insurance coverage); (b)             for insurance contracts without direct participation features , the generation …

An insurance contract for which, at inception: (a)             the contractual terms specify that the policyholder participates in a share of a clearly identified pool of underlying items ; (b)             the entity expects to pay to the policyholder an …