467 definitions found
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 …
AASB 1038
Definition
20.1[10]
guaranteed element means an obligation to pay guaranteed benefits included in a contract that contains a discretionary participation …
AASB 1038
Definition
20.1[11]
insurance asset means an insurer’s net contractual rights under an insurance contract …
AASB 1038
Definition
20.1[12]
insurance contract means a contract under which one party (the insurer) 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 …
AASB 1038
Definition
20.1[13]
insurance liability means an insurer’s net contractual obligations under an insurance contract …
AASB 1038
Definition
20.1[14]
insurance risk means risk, other than financial risk, transferred from the holder of a contract to the issuer …
AASB 1038
Definition
20.1[15]
insured event means an uncertain future event covered by an insurance contract and creates insurance risk …
AASB 1038
Definition
20.1[16]
insurer means the party that has an obligation under an insurance contract to compensate a policyholder if an insured event occurs …
AASB 1038
Definition
20.1[17]
investment-linked means where the benefit amount under a life insurance contract or life investment contract is directly linked to the market value of the investments held in the particular investment-linked …
AASB 1038
Definition
20.1[18]
liability adequacy test means an assessment of whether the carrying amount of an insurance liability needs to be increased (or the carrying amount of the related deferred acquisition costs or related intangible assets decreased) based on a review of …