Search Definitions

The amounts that an insurance contract requires the entity to repay to a policyholder in all circumstances, regardless of whether an insured event …

A financial instrument that provides a particular investor with the contractual right to receive, as a supplement to an amount not subject to the discretion of the issuer, additional amounts: (a)             that are expected to be a significant portion …

An entity’s obligation to: (a)             investigate and pay valid claims for insured events that have already occurred, including events that have occurred but for which claims have not been reported, and other incurred insurance expenses; and (b) …

An entity’s obligation to: (a)             investigate and pay valid claims under existing insurance contracts for insured events that have not yet occurred (ie the obligation that relates to the unexpired portion of the insurance coverage); and (b) …

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

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 …

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 …