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[[Definition:Artificial intelligence (AI)]]
**Transaction types and structures**
[[Definition:Acquisition]]
[[Definition:Machine learning (ML)]]
[[Definition:Bancassurance acquisition]]
[[Definition:Deep learning]]
[[Definition:Business combination]]
[[Definition:Natural language processing (NLP)]]
[[Definition:Carve-out]]
[[Definition:Computer vision]]
[[Definition:Consolidation]]
[[Definition:Predictive analytics]]
[[Definition:Corporate reorganization]]
[[Definition:Predictive modelling]]
[[Definition:Cross-border merger]]
[[Definition:Algorithmic underwriting]]
[[Definition:Demerger]]
[[Definition:Automated claims processing]]
[[Definition:Divestiture]]
[[Definition:Fraud detection]]
[[Definition:Equity purchase]]
[[Definition:Optical character recognition (OCR)]]
[[Definition:Horizontal merger]]
[[Definition:Robotic process automation (RPA)]]
[[Definition:Hostile takeover]]
[[Definition:Chatbot]]
[[Definition:Insurance business transfer (IBT)]]
[[Definition:Large language model (LLM)]]
[[Definition:Insurance portfolio transfer (IPT)]]
[[Definition:Generative artificial intelligence (GenAI)]]
[[Definition:Joint venture (JV)]]
[[Definition:Neural network]]
[[Definition:Leveraged buyout (LBO)]]
[[Definition:Supervised learning]]
[[Definition:Loss portfolio transfer (LPT)]]
[[Definition:Unsupervised learning]]
[[Definition:Management buyout (MBO)]]
[[Definition:Training data]]
[[Definition:Merger]]
[[Definition:Algorithmic bias]]
[[Definition:Minority stake acquisition]]
[[Definition:Explainability]]
[[Definition:Part VII transfer]]
[[Definition:Black box model]]
[[Definition:Platform acquisition]]
[[Definition:Model validation]]
[[Definition:Reverse merger]]
[[Definition:Telematics]]
[[Definition:Reverse takeover]]
[[Definition:Sentiment analysis]]
[[Definition:Scheme of arrangement]]
[[Definition:Decision tree]]
[[Definition:Share swap]]
[[Definition:Data mining]]
[[Definition:Special purpose acquisition company (SPAC)]]
[[Definition:Straight-through processing (STP)]]
[[Definition:Spin-off]]
[[Definition:Intelligent document processing (IDP)]]
[[Definition:Strategic partnership]]
[[Definition:Digital twin]]
[[Definition:Takeover]]
[[Definition:Takeover bid]]
[[Definition:Tender offer]]
[[Definition:Transfer of engagements]]
[[Definition:Tuck-in acquisition]]
[[Definition:Vertical merger]]


**Deal participants and roles**
[[Definition:Bidder]]
[[Definition:Lead adviser]]
[[Definition:Private equity sponsor]]
[[Definition:Strategic buyer]]
[[Definition:Target company]]
[[Definition:Transaction advisory]]


**Valuation and pricing**
[[Definition:Base purchase price]]
[[Definition:Control premium]]
[[Definition:Deal structure]]
[[Definition:Embedded value (EV)]]
[[Definition:Enterprise value (EV)]]
[[Definition:Equity value]]
[[Definition:Purchase consideration]]
[[Definition:Purchase price allocation (PPA)]]
[[Definition:Valuation date]]
[[Definition:Value creation plan]]
[[Definition:Value of in-force business (VIF)]]


[[Definition:Request for proposal (RFP)]]
**Price adjustment mechanisms**
[[Definition:Adjustment mechanism]]
[[Definition:Request for information (RFI)]]
[[Definition:Closing adjustment]]
[[Definition:Request for quotation (RFQ)]]
[[Definition:Closing payment]]
[[Definition:Vendor management]]
[[Definition:Collar mechanism]]
[[Definition:Third-party risk management (TPRM)]]
[[Definition:Collar (price collar)]]
[[Definition:Service level agreement (SLA)]]
[[Definition:Completion account]]
[[Definition:Key performance indicator (KPI)]]
[[Definition:Completion account mechanism]]
[[Definition:Completion mechanism]]
[[Definition:Contingent consideration]]
[[Definition:Contractual price adjustment]]
[[Definition:Debt-free cash-free adjustment]]
[[Definition:Debt-like item]]
[[Definition:Deemed completion mechanism]]
[[Definition:Deferred consideration]]
[[Definition:Deferred payment mechanism]]
[[Definition:Dollar-for-dollar adjustment]]
[[Definition:Earn-out]]
[[Definition:Earn-out adjustment]]
[[Definition:Earn-out milestone]]
[[Definition:Earn-out period]]
[[Definition:Effective economic date]]
[[Definition:Enterprise value to equity value bridge (EV-to-equity bridge)]]
[[Definition:Equity ticker mechanism]]
[[Definition:Excess cash adjustment]]
[[Definition:Leakage]]
[[Definition:Leakage covenant]]
[[Definition:Locked-box account]]
[[Definition:Locked-box date]]
[[Definition:Locked-box interest (ticker)]]
[[Definition:Locked-box mechanism]]
[[Definition:Locked-box permitted leakage]]
[[Definition:Loss reserve true-up]]
[[Definition:Milestone payment]]
[[Definition:Net cash adjustment]]
[[Definition:Net debt adjustment]]
[[Definition:Net working capital target]]
[[Definition:Permitted leakage]]
[[Definition:Post-closing adjustment]]
[[Definition:Post-closing earn-out adjustment]]
[[Definition:Post-closing true-up]]
[[Definition:Pre-closing leakage]]
[[Definition:Pre-closing price adjustment]]
[[Definition:Price adjustment mechanism]]
[[Definition:Price chip]]
[[Definition:Price retention]]
[[Definition:Purchase price reduction]]
[[Definition:Reserve adjustment clause]]
[[Definition:Reserve true-up mechanism]]
[[Definition:Step-up adjustment]]
[[Definition:Ticker mechanism]]
[[Definition:True-up mechanism]]
[[Definition:Unearned premium reserve adjustment]]
[[Definition:Unearned premium reserve transfer]]
[[Definition:Value adjustment]]
[[Definition:Working capital adjustment]]
[[Definition:Working capital collar]]
[[Definition:Working capital peg]]
[[Definition:Working capital shortfall adjustment]]
[[Definition:Working capital surplus adjustment]]
[[Definition:Working capital target]]
[[Definition:Working capital true-up]]

**Warranties, representations, and indemnities**
[[Definition:Bring-down condition]]
[[Definition:Bring-down warranty]]
[[Definition:Catch-all warranty]]
[[Definition:Compliance warranty]]
[[Definition:Double materiality scrape]]
[[Definition:Fundamental warranty]]
[[Definition:General warranty]]
[[Definition:Insurance warranty]]
[[Definition:Knowledge qualifier]]
[[Definition:Knowledge scrape]]
[[Definition:Management warranty]]
[[Definition:Materiality qualifier]]
[[Definition:Materiality scrape]]
[[Definition:No-leakage warranty]]
[[Definition:Regulatory warranty]]
[[Definition:Repetition of warranty]]
[[Definition:Representations and warranties (R&W)]]
[[Definition:Representations and warranties insurance (R&W insurance)]]
[[Definition:Seller warranty]]
[[Definition:Solvency warranty]]
[[Definition:Tax warranty]]
[[Definition:Title and capacity warranty]]
[[Definition:Title warranty]]
[[Definition:Warranty]]
[[Definition:Warranty and indemnity insurance (W&I insurance)]]
[[Definition:Warranty breach]]
[[Definition:Warranty qualifier]]
[[Definition:Warranty repeater clause]]
[[Definition:Warranty survival period]]

**Indemnification and liability**
[[Definition:Basket (deductible basket)]]
[[Definition:Basket threshold]]
[[Definition:Cap on indemnification]]
[[Definition:Claw-back clause]]
[[Definition:De minimis threshold]]
[[Definition:Environmental indemnity clause]]
[[Definition:Escrow account]]
[[Definition:Escrow release condition]]
[[Definition:Holdback]]
[[Definition:Indemnification clause]]
[[Definition:Indemnity cap]]
[[Definition:Indemnity escrow]]
[[Definition:Indemnity holdback]]
[[Definition:Liability cap]]
[[Definition:Mini basket]]
[[Definition:No-claim declaration]]
[[Definition:Retention amount]]
[[Definition:Seller protection clause]]
[[Definition:Specific indemnity]]
[[Definition:Specific tax indemnity]]
[[Definition:Survival clause]]
[[Definition:Survival period]]
[[Definition:Tax covenant]]
[[Definition:Tax indemnity]]
[[Definition:Third-party claim procedure]]
[[Definition:Threshold amount (de minimis)]]
[[Definition:Time limitation clause]]
[[Definition:Tipping basket]]
[[Definition:Tipping basket mechanism]]
[[Definition:Transaction liability insurance]]

**Key clauses and covenants**
[[Definition:Acceleration clause]]
[[Definition:Anti-embarrassment clause]]
[[Definition:Anti-sandbagging clause]]
[[Definition:Anti-tilting provision]]
[[Definition:Anti-trust approval]]
[[Definition:Break fee]]
[[Definition:Breakup fee]]
[[Definition:Change of control clause]]
[[Definition:Change of control notification]]
[[Definition:Condition precedent (CP)]]
[[Definition:Condition precedent to completion (CPC)]]
[[Definition:Condition subsequent]]
[[Definition:Closing condition]]
[[Definition:Covenant not to compete]]
[[Definition:Drag-along right]]
[[Definition:Exclusivity agreement]]
[[Definition:Exclusivity period]]
[[Definition:Good leaver clause]]
[[Definition:Hell-or-high-water clause]]
[[Definition:Interim breach clause]]
[[Definition:Interim operating covenant]]
[[Definition:Interim period]]
[[Definition:Key person clause]]
[[Definition:Long-stop date]]
[[Definition:Material adverse change clause (MAC clause)]]
[[Definition:Material adverse effect (MAE)]]
[[Definition:Merger clause (entire agreement clause)]]
[[Definition:No-shop clause]]
[[Definition:Non-compete agreement]]
[[Definition:Non-solicitation clause]]
[[Definition:Ordinary course covenant]]
[[Definition:Outward reinsurance clause]]
[[Definition:Post-completion covenant]]
[[Definition:Pre-closing covenant]]
[[Definition:Pro-sandbagging clause]]
[[Definition:Regulatory change of control approval]]
[[Definition:Reverse breakup fee]]
[[Definition:Sandbagging clause]]
[[Definition:Tag-along right]]
[[Definition:Vesting acceleration]]

**Due diligence**
[[Definition:Actuarial due diligence]]
[[Definition:Buy-side due diligence]]
[[Definition:Data room]]
[[Definition:Due diligence]]
[[Definition:Due diligence]]
[[Definition:Financial due diligence]]
[[Definition:Outsourcing]]
[[Definition:Insourcing]]
[[Definition:Incurred but not reported reserve review (IBNR reserve review)]]
[[Definition:Independent actuarial opinion]]
[[Definition:Preferred supplier]]
[[Definition:Legal due diligence]]
[[Definition:Supplier evaluation]]
[[Definition:Merger control filing]]
[[Definition:Total cost of ownership (TCO)]]
[[Definition:Operational due diligence]]
[[Definition:Procurement lifecycle]]
[[Definition:Regulatory due diligence]]
[[Definition:Contract management]]
[[Definition:Sell-side due diligence]]
[[Definition:Master service agreement (MSA)]]
[[Definition:Tax due diligence]]
[[Definition:Statement of work (SOW)]]
[[Definition:Underwriting due diligence]]
[[Definition:Spend analysis]]
[[Definition:Category management]]

[[Definition:Strategic sourcing]]
**Integration and separation**
[[Definition:Acquisition integration plan]]
[[Definition:Competitive tendering]]
[[Definition:Day-one readiness]]
[[Definition:Vendor lock-in]]
[[Definition:Expense synergy]]
[[Definition:Subcontracting]]
[[Definition:Integration planning]]
[[Definition:Integration risk]]
[[Definition:Post-merger integration (PMI)]]
[[Definition:Pre-completion reorganization]]
[[Definition:Separation agreement]]
[[Definition:Stranded cost]]
[[Definition:Synergy]]
[[Definition:Transitional service agreement (TSA)]]
[[Definition:Transitional trademark license]]

**Insurance-specific M&A terms**
[[Definition:Carve-out financial statement]]
[[Definition:Economic loss approach]]
[[Definition:Insurance license transfer]]
[[Definition:License novation]]
[[Definition:Standalone financial statement]]

**Transaction process and closing**
[[Definition:Closing date]]
[[Definition:Co-investment]]
[[Definition:Finder's fee]]
[[Definition:Investment banking fee]]
[[Definition:Initial public offering (IPO)]]
[[Definition:Sell-side process]]
[[Definition:Signing date]]

**Agreements and principal documents**
[[Definition:Asset purchase agreement (APA)]]
[[Definition:Break fee agreement]]
[[Definition:Business transfer agreement (BTA)]]
[[Definition:Confidentiality agreement (CA)]]
[[Definition:Definitive agreement]]
[[Definition:Employee transfer agreement]]
[[Definition:Equity commitment letter]]
[[Definition:Escrow agreement]]
[[Definition:Exclusivity letter]]
[[Definition:Expert determination agreement]]
[[Definition:Heads of agreement]]
[[Definition:Heads of terms (HoT)]]
[[Definition:Holdback agreement]]
[[Definition:Letter of intent (LOI)]]
[[Definition:Memorandum of understanding (MOU)]]
[[Definition:Non-disclosure agreement (NDA)]]
[[Definition:Non-disclosure agreement (NDA)]]
[[Definition:Retention agreement]]
[[Definition:Purchase order (PO)]]
[[Definition:Share purchase agreement (SPA)]]
[[Definition:Procure-to-pay (P2P)]]
[[Definition:Shareholder agreement]]
[[Definition:Supplier onboarding]]
[[Definition:Side letter]]
[[Definition:Benchmarking]]
[[Definition:Term sheet]]
[[Definition:Tail spend]]
[[Definition:Transfer agreement]]
[[Definition:Business continuity planning (BCP)]]
[[Definition:Sole sourcing]]

[[Definition:Single sourcing]]
**Deeds**
[[Definition:Deed of adherence]]
[[Definition:Multi-sourcing]]
[[Definition:Deed of covenant]]
[[Definition:Nearshoring]]
[[Definition:Deed of indemnity]]
[[Definition:Offshoring]]
[[Definition:Deed of novation]]
[[Definition:Onshoring]]
[[Definition:Deed of release]]
[[Definition:Managed service provider (MSP)]]
[[Definition:Deed of termination]]
[[Definition:Business process outsourcing (BPO)]]
[[Definition:Deed of transfer]]
[[Definition:Information technology outsourcing (ITO)]]
[[Definition:Deed of undertaking]]
[[Definition:Vendor consolidation]]
[[Definition:Management warranty deed]]
[[Definition:Supplier diversity]]
[[Definition:Framework agreement]]
[[Definition:Blanket purchase agreement (BPA)]]
[[Definition:Rate card]]
[[Definition:Cost-benefit analysis (CBA)]]
[[Definition:Return on investment (ROI)]]
[[Definition:Value for money (VFM)]]
[[Definition:Negotiation strategy]]
[[Definition:Best and final offer (BAFO)]]
[[Definition:Invitation to tender (ITT)]]
[[Definition:Evaluation criteria]]
[[Definition:Weighted scoring model]]
[[Definition:Proof of concept (POC)]]
[[Definition:Pilot programme]]
[[Definition:Vendor risk assessment]]
[[Definition:Supplier scorecard]]
[[Definition:Contract renewal]]
[[Definition:Auto-renewal clause]]
[[Definition:Termination for convenience]]
[[Definition:Exit strategy]]
[[Definition:Transition plan]]
[[Definition:Change control]]
[[Definition:Scope creep]]
[[Definition:Escalation procedure]]
[[Definition:Governance framework]]
[[Definition:Steering committee]]
[[Definition:Stakeholder management]]
[[Definition:Demand management]]
[[Definition:Specification]]
[[Definition:Compliance requirement]]
[[Definition:Regulatory outsourcing obligation]]
[[Definition:Material outsourcing]]
[[Definition:Critical service provider]]
[[Definition:Concentration risk]]
[[Definition:Fourth-party risk]]
[[Definition:Supply chain risk]]
[[Definition:Right to audit clause]]
[[Definition:Data processing agreement (DPA)]]
[[Definition:Intellectual property rights (IPR)]]
[[Definition:Indemnification clause]]
[[Definition:Limitation of liability]]
[[Definition:Force majeure]]
[[Definition:Liquidated damages]]
[[Definition:Penalty clause]]
[[Definition:Earnback mechanism]]
[[Definition:Gain-sharing arrangement]]
[[Definition:Fixed-price contract]]
[[Definition:Time-and-materials contract (T&M)]]
[[Definition:Cost-plus contract]]
[[Definition:Outcome-based contract]]
[[Definition:Maverick spend]]
[[Definition:Spend under management]]
[[Definition:Savings target]]
[[Definition:Budget holder]]
[[Definition:Approval workflow]]
[[Definition:Delegated authority]]
[[Definition:Procurement policy]]
[[Definition:Ethical sourcing]]
[[Definition:Environmental, social, and governance criteria (ESG)]]
[[Definition:Sustainable procurement]]
[[Definition:Vendor performance review]]
[[Definition:Continuous improvement]]
[[Definition:Market analysis]]
[[Definition:Make-or-buy decision]]
[[Definition:Incumbent supplier]]


[[Definition:Gross written premiums (GWP)]]
**Process documents**
[[Definition:Bid letter]]
[[Definition:Combined ratio (CR)]]
[[Definition:Binding offer (BO)]]
[[Definition:Underlying earnings]]
[[Definition:Board approval resolution]]
[[Definition:Underlying earnings per share (UEPS)]]
[[Definition:Board information memorandum]]
[[Definition:Underlying return on equity (URoE)]]
[[Definition:Buyer's closing certificate]]
[[Definition:Net income]]
[[Definition:Capitalization table (cap table)]]
[[Definition:Solvency II ratio]]
[[Definition:Closing agenda]]
[[Definition:Eligible own funds (EOF)]]
[[Definition:Closing bible]]
[[Definition:Contractual service margin (CSM)]]
[[Definition:Closing checklist]]
[[Definition:New business value (NBV)]]
[[Definition:Closing memorandum]]
[[Definition:New business value margin]]
[[Definition:Comfort letter]]
[[Definition:Present value of expected premiums (PVEP)]]
[[Definition:Commitment letter]]
[[Definition:New business contractual service margin (NB CSM)]]
[[Definition:Company disclosure letter]]
[[Definition:CSM release]]
[[Definition:Completion board minute]]
[[Definition:Technical margin]]
[[Definition:Completion statement]]
[[Definition:Technical experience]]
[[Definition:Confidential information memorandum (CIM)]]
[[Definition:Net flows]]
[[Definition:Conflict clearance letter]]
[[Definition:Unit-linked]]
[[Definition:Consent solicitation document]]
[[Definition:General account (GA)]]
[[Definition:Corporate authority document]]
[[Definition:Property and casualty insurance (P&C)]]
[[Definition:Corporate structure chart]]
[[Definition:Life and health insurance (L&H)]]
[[Definition:Data room index]]
[[Definition:Commercial lines]]
[[Definition:Data room rules letter]]
[[Definition:Personal lines]]
[[Definition:Disclosure bundle]]
[[Definition:Reinsurance]]
[[Definition:Disclosure letter]]
[[Definition:Managing general agent (MGA)]]
[[Definition:Disclosure schedule]]
[[Definition:Natural catastrophe charges (Nat Cat)]]
[[Definition:Draft share purchase agreement (draft SPA)]]
[[Definition:Prior years' reserve development]]
[[Definition:Due diligence checklist]]
[[Definition:Claims reserve]]
[[Definition:Due diligence questionnaire (DDQ)]]
[[Definition:Unwind of discount]]
[[Definition:Due diligence report]]
[[Definition:Loss ratio]]
[[Definition:Embedded value report (EV report)]]
[[Definition:Expense ratio]]
[[Definition:Estimated completion statement]]
[[Definition:Current year loss]]
[[Definition:Expression of interest (EOI)]]
[[Definition:Short-tail lines]]
[[Definition:Fairness opinion]]
[[Definition:Long-tail lines]]
[[Definition:Fee arrangement letter]]
[[Definition:Casualty insurance]]
[[Definition:Final bid letter]]
[[Definition:Financial lines]]
[[Definition:Final offer letter]]
[[Definition:Protection]]
[[Definition:Financial due diligence report]]
[[Definition:Savings insurance]]
[[Definition:Financial model]]
[[Definition:Endowment product]]
[[Definition:Funds flow statement]]
[[Definition:Single premium]]
[[Definition:Gap analysis]]
[[Definition:Whole-life product]]
[[Definition:General disclosure]]
[[Definition:Bancassurance]]
[[Definition:Incurred but not reported analysis (IBNR analysis)]]
[[Definition:Direct insurance]]
[[Definition:Independent actuarial review]]
[[Definition:Motor insurance]]
[[Definition:Independent expert report]]
[[Definition:Fire insurance]]
[[Definition:Indicative offer letter]]
[[Definition:Workers' compensation]]
[[Definition:Information memorandum (IM)]]
[[Definition:Group life insurance]]
[[Definition:Information request list (IRL)]]
[[Definition:Health insurance]]
[[Definition:Insurance license schedule]]
[[Definition:Complementary health insurance]]
[[Definition:Insurance portfolio summary]]
[[Definition:Retail motor]]
[[Definition:Investment committee memorandum (IC memo)]]
[[Definition:Social inflation]]
[[Definition:Investor presentation]]
[[Definition:Market softening]]
[[Definition:IT due diligence report]]
[[Definition:Pricing cycle]]
[[Definition:Key person term sheet]]
[[Definition:Capital-light product]]
[[Definition:Legal due diligence report]]
[[Definition:Surrender]]
[[Definition:List of material contracts]]
[[Definition:Persistency]]
[[Definition:Litigation schedule]]
[[Definition:Underwriting]]
[[Definition:Locked-box completion statement]]
[[Definition:Pruning]]
[[Definition:Loss reserve analysis]]
[[Definition:Earn-through]]
[[Definition:Management due diligence report]]
[[Definition:Debt gearing]]
[[Definition:Management equity plan]]
[[Definition:Restricted Tier 1 capital (RT1)]]
[[Definition:Management presentation]]
[[Definition:Tier 2 capital]]
[[Definition:Management representation letter]]
[[Definition:Loss absorption mechanism]]
[[Definition:Markup (contract markup)]]
[[Definition:Write-down]]
[[Definition:Material contract summary]]
[[Definition:Credit spread]]
[[Definition:Merger filing document]]
[[Definition:Investment grade]]
[[Definition:Merger notification form]]
[[Definition:High yield]]
[[Definition:Non-binding offer (NBO)]]
[[Definition:Corporate spread]]
[[Definition:Non-binding offer letter]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Non-reliance letter]]
[[Definition:Organic cash upstream]]
[[Definition:Notification letter to policyholders]]
[[Definition:Dividend payout ratio]]
[[Definition:Notification letter to regulators]]
[[Definition:Total payout ratio]]
[[Definition:Offer letter]]
[[Definition:Share buy-back]]
[[Definition:Operational due diligence report]]
[[Definition:Normalized own funds generation]]
[[Definition:Outstanding claims schedule]]
[[Definition:Operating return]]
[[Definition:Pension due diligence report]]
[[Definition:Foreseeable dividend]]
[[Definition:Permitted leakage schedule]]
[[Definition:Comparable basis]]
[[Definition:Policy register extract]]
[[Definition:Constant exchange rate basis]]
[[Definition:Post-closing adjustment statement]]
[[Definition:Scope effect]]
[[Definition:Pre-completion reorganization plan]]
[[Definition:Intercompany elimination]]
[[Definition:Process letter]]
[[Definition:Proof of funds letter]]
[[Definition:Purchase price allocation report (PPA report)]]
[[Definition:Q&A log (questions and answers log)]]
[[Definition:Red flag report]]
[[Definition:Register of members]]
[[Definition:Regulatory approval application]]
[[Definition:Regulatory due diligence report]]
[[Definition:Reinsurance contract schedule]]
[[Definition:Reinsurance program summary]]
[[Definition:Reinsurance recoverables schedule]]
[[Definition:Reliance letter]]
[[Definition:Representations and warranties insurance application (R&W insurance application)]]
[[Definition:Reserve adequacy report]]
[[Definition:Run-off cost estimate]]
[[Definition:Run-off plan]]
[[Definition:Schedule of exceptions]]
[[Definition:Scheme document]]
[[Definition:Scheme of arrangement document]]
[[Definition:Seller's closing certificate]]
[[Definition:Seller's disclosure schedule]]
[[Definition:Sensitivity analysis]]
[[Definition:Share transfer form]]
[[Definition:Shareholder resolution]]
[[Definition:Signing protocol]]
[[Definition:Stock transfer form]]
[[Definition:Supplementary disclosure letter]]
[[Definition:Tax clearance application]]
[[Definition:Tax due diligence report]]
[[Definition:Tax structuring memorandum]]
[[Definition:Teaser (blind teaser)]]
[[Definition:Third-party consent letter]]
[[Definition:Transaction structure memorandum]]
[[Definition:Valuation report]]
[[Definition:Vendor assist report]]
[[Definition:Vendor due diligence (VDD)]]
[[Definition:Vendor due diligence report (VDD report)]]
[[Definition:Vendor financial model]]
[[Definition:Warranty and indemnity insurance policy (W&I insurance policy)]]
[[Definition:Working capital analysis]]
[[Definition:Working capital statement]]

Latest revision as of 21:11, 19 March 2026

Definition:Artificial intelligence (AI) Definition:Machine learning (ML) Definition:Deep learning Definition:Natural language processing (NLP) Definition:Computer vision Definition:Predictive analytics Definition:Predictive modelling Definition:Algorithmic underwriting Definition:Automated claims processing Definition:Fraud detection Definition:Optical character recognition (OCR) Definition:Robotic process automation (RPA) Definition:Chatbot Definition:Large language model (LLM) Definition:Generative artificial intelligence (GenAI) Definition:Neural network Definition:Supervised learning Definition:Unsupervised learning Definition:Training data Definition:Algorithmic bias Definition:Explainability Definition:Black box model Definition:Model validation Definition:Telematics Definition:Sentiment analysis Definition:Decision tree Definition:Data mining Definition:Straight-through processing (STP) Definition:Intelligent document processing (IDP) Definition:Digital twin


Definition:Request for proposal (RFP) Definition:Request for information (RFI) Definition:Request for quotation (RFQ) Definition:Vendor management Definition:Third-party risk management (TPRM) Definition:Service level agreement (SLA) Definition:Key performance indicator (KPI) Definition:Due diligence Definition:Outsourcing Definition:Insourcing Definition:Preferred supplier Definition:Supplier evaluation Definition:Total cost of ownership (TCO) Definition:Procurement lifecycle Definition:Contract management Definition:Master service agreement (MSA) Definition:Statement of work (SOW) Definition:Spend analysis Definition:Category management Definition:Strategic sourcing Definition:Competitive tendering Definition:Vendor lock-in Definition:Subcontracting Definition:Non-disclosure agreement (NDA) Definition:Purchase order (PO) Definition:Procure-to-pay (P2P) Definition:Supplier onboarding Definition:Benchmarking Definition:Tail spend Definition:Business continuity planning (BCP) Definition:Sole sourcing Definition:Single sourcing Definition:Multi-sourcing Definition:Nearshoring Definition:Offshoring Definition:Onshoring Definition:Managed service provider (MSP) Definition:Business process outsourcing (BPO) Definition:Information technology outsourcing (ITO) Definition:Vendor consolidation Definition:Supplier diversity Definition:Framework agreement Definition:Blanket purchase agreement (BPA) Definition:Rate card Definition:Cost-benefit analysis (CBA) Definition:Return on investment (ROI) Definition:Value for money (VFM) Definition:Negotiation strategy Definition:Best and final offer (BAFO) Definition:Invitation to tender (ITT) Definition:Evaluation criteria Definition:Weighted scoring model Definition:Proof of concept (POC) Definition:Pilot programme Definition:Vendor risk assessment Definition:Supplier scorecard Definition:Contract renewal Definition:Auto-renewal clause Definition:Termination for convenience Definition:Exit strategy Definition:Transition plan Definition:Change control Definition:Scope creep Definition:Escalation procedure Definition:Governance framework Definition:Steering committee Definition:Stakeholder management Definition:Demand management Definition:Specification Definition:Compliance requirement Definition:Regulatory outsourcing obligation Definition:Material outsourcing Definition:Critical service provider Definition:Concentration risk Definition:Fourth-party risk Definition:Supply chain risk Definition:Right to audit clause Definition:Data processing agreement (DPA) Definition:Intellectual property rights (IPR) Definition:Indemnification clause Definition:Limitation of liability Definition:Force majeure Definition:Liquidated damages Definition:Penalty clause Definition:Earnback mechanism Definition:Gain-sharing arrangement Definition:Fixed-price contract Definition:Time-and-materials contract (T&M) Definition:Cost-plus contract Definition:Outcome-based contract Definition:Maverick spend Definition:Spend under management Definition:Savings target Definition:Budget holder Definition:Approval workflow Definition:Delegated authority Definition:Procurement policy Definition:Ethical sourcing Definition:Environmental, social, and governance criteria (ESG) Definition:Sustainable procurement Definition:Vendor performance review Definition:Continuous improvement Definition:Market analysis Definition:Make-or-buy decision Definition:Incumbent supplier

Definition:Gross written premiums (GWP) Definition:Combined ratio (CR) Definition:Underlying earnings Definition:Underlying earnings per share (UEPS) Definition:Underlying return on equity (URoE) Definition:Net income Definition:Solvency II ratio Definition:Eligible own funds (EOF) Definition:Contractual service margin (CSM) Definition:New business value (NBV) Definition:New business value margin Definition:Present value of expected premiums (PVEP) Definition:New business contractual service margin (NB CSM) Definition:CSM release Definition:Technical margin Definition:Technical experience Definition:Net flows Definition:Unit-linked Definition:General account (GA) Definition:Property and casualty insurance (P&C) Definition:Life and health insurance (L&H) Definition:Commercial lines Definition:Personal lines Definition:Reinsurance Definition:Managing general agent (MGA) Definition:Natural catastrophe charges (Nat Cat) Definition:Prior years' reserve development Definition:Claims reserve Definition:Unwind of discount Definition:Loss ratio Definition:Expense ratio Definition:Current year loss Definition:Short-tail lines Definition:Long-tail lines Definition:Casualty insurance Definition:Financial lines Definition:Protection Definition:Savings insurance Definition:Endowment product Definition:Single premium Definition:Whole-life product Definition:Bancassurance Definition:Direct insurance Definition:Motor insurance Definition:Fire insurance Definition:Workers' compensation Definition:Group life insurance Definition:Health insurance Definition:Complementary health insurance Definition:Retail motor Definition:Social inflation Definition:Market softening Definition:Pricing cycle Definition:Capital-light product Definition:Surrender Definition:Persistency Definition:Underwriting Definition:Pruning Definition:Earn-through Definition:Debt gearing Definition:Restricted Tier 1 capital (RT1) Definition:Tier 2 capital Definition:Loss absorption mechanism Definition:Write-down Definition:Credit spread Definition:Investment grade Definition:High yield Definition:Corporate spread Definition:Solvency capital requirement (SCR) Definition:Organic cash upstream Definition:Dividend payout ratio Definition:Total payout ratio Definition:Share buy-back Definition:Normalized own funds generation Definition:Operating return Definition:Foreseeable dividend Definition:Comparable basis Definition:Constant exchange rate basis Definition:Scope effect Definition:Intercompany elimination

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