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The key with a net premium valuation is that the premiums being valued are theoretical measures - they make no reference to the actual premiums being charged by the insurer. This technique is a well-established actuarial valuation method, that became popular because of its simplicity, consistency, and ease of calculation.
In the insurance industry, gross premiums written is the sum of both direct premiums written (see next paragraph) and assumed premiums written, before deducting ceded reinsurance. Direct premiums written represents the premiums on all policies the company's insurance subsidiaries have issued during the year.
A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the ...
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.
Template documentation Usage This template's initial visibility currently defaults to autocollapse , meaning that if there is another collapsible item on the page (a navbox, sidebar , or table with the collapsible attribute ), it is hidden apart from its title bar; if not, it is fully visible.
All types of insurance risk located in the UK are taxable unless they are specifically exempted. Exemptions from this tax include: [5] reinsurance; life insurance, permanent-health insurance and all other ‘long term’ insurance, except health insurance; commercial aircraft and some associated liabilities; commercial ships and some associated ...
According to Companies Act 2006 s.610 [2] in the United Kingdom the share premium account may be used only for certain specific purposes. However, UK company law in this connection was significantly relaxed in 2008 by permitting the share premium account to be converted into share capital and then the share capital to be reduced (effectively allowing the elimination of the share premium ...
In contemporary operation, PowerPoint is used to create a file (called a "presentation" or "deck") containing a sequence of pages (called "slides" in the app) which usually have a consistent style (from template masters), and which may contain information imported from other apps or created in PowerPoint, including text, bullet lists, tables ...