Search Definitions

Insurance contracts subject to similar risks and managed together. …

An insurance contract issued by one entity (the reinsurer) to compensate another entity for claims arising from one or more insurance contracts issued by that other entity (underlying …

The compensation an entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk as the entity fulfils insurance contracts …

Items that determine some of the amounts payable to a policyholder . Underlying items can comprise any items; for example, a reference portfolio of assets, the net assets of the entity, or a specified subset of the net assets of the …

An agreement between two or more parties that creates enforceable rights and obligations. …

The period over which an asset is expected to be available for use by an entity; or the number of production or similar units expected to be obtained from an asset by an …

In respect of not-for-profit entities, current replacement cost is the cost the entity would incur to acquire the asset at the end of the reporting …

“entity” means any legal, administrative, or fiduciary arrangement, organisational structure or other party (including a person) having the capacity to deploy scarce resources in order to achieve objectives; …

“general purpose financial report” means a financial report intended to meet the information needs common to users who are unable to command the preparation of reports tailored so as to satisfy, specifically, all of their information …