Search Definitions

policyholder means a party that has a right to compensation under an insurance contract if an insured event occurs …

premium means the amount charged in relation to accepting risk from the insured, but does not include amounts collected on behalf of third …

reinsurance assets means a cedant’s net contractual rights under a reinsurance contract …

reinsurance contract means an insurance contract issued by one insurer (the reinsurer) to compensate another insurer (the cedant) for losses on one or more contracts issued by the …

reinsurer means the party that has an obligation under a reinsurance contract to compensate a cedant if an insured event occurs …

separate financial statements are those presented by a parent, an investor in an associate or a venturer in a joint venture, in which the investments are accounted for on the basis of the direct equity interest rather than on the basis of the reported …

unbundle means to treat the components of a contract as if they were separate contracts …

weather derivative means a contract that requires payment based on climatic, geological or other physical variables …

For the purposes of this Statement: …

“control” means the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in achieving the objectives of the …