431 definitions found
AASB 1038
Definition
20.1[1]
acquisition costs means the fixed and variable costs of acquiring new business, including commissions and similar distribution costs, and costs of accepting, issuing and initially recording policies (Acquisition costs relate to the costs incurred in …
AASB 1038
Definition
20.1[2]
cedant means the policyholder under a life reinsurance contract …
AASB 1038
Definition
20.1[3]
deposit component means a contractual component that is not accounted for as a derivative under AASB 9 Financial Instruments and would be within the scope of AASB 9 Financial Instruments if it were a separate …
AASB 1038
Definition
20.1[4]
direct insurance contract means an insurance contract that is not a reinsurance contract …
AASB 1038
Definition
20.1[5]
discretionary participation feature means a contractual right to receive, as a supplement to guaranteed benefits , additional benefits: (a) that are likely to be a significant portion of the total contractual benefits; (b) whose amount or timing is …
AASB 1038
Definition
20.1[6]
fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (See AASB 13 …
AASB 1038
Definition
20.1[7]
financial risk means the risk of a possible future change in one or more of a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, a credit rating or credit index or other variable, …
AASB 1038
Definition
20.1[8]
general insurance contract means an insurance contract that is not a life insurance contract …
AASB 1038
Definition
20.1[9]
guaranteed benefits means payments or other benefits to which a particular policyholder or investor has an unconditional right that is not subject to the contractual discretion of the …