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[[Definition:DistributionGross channelwritten premium (GWP)]]
[[Definition:IntermediaryNet written premium (NWP)]]
[[Definition:InsuranceGross brokerearned premium (GEP)]]
[[Definition:InsuranceNet agentearned premium (NEP)]]
[[Definition:IndependentUnearned agentpremium reserve (UPR)]]
[[Definition:CaptiveUnearned agent (exclusive agent)premium]]
[[Definition:GeneralEarned agent (GA)premium]]
[[Definition:ManagingWritten general agent (MGA)premium]]
[[Definition:ManagingPremium generaldeficiency underwriter (MGU)reserve]]
[[Definition:DelegatedAdditional underwritingunexpired authorityrisk reserve (DUAAURR)]]
[[Definition:BindingDeferred authorityacquisition cost (DAC)]]
[[Definition:Binder]]
[[Definition:Coverholder]]
[[Definition:Program administrator]]
[[Definition:Program business]]
[[Definition:Wholesale broker]]
[[Definition:Retail broker]]
[[Definition:Surplus lines broker]]
[[Definition:Reinsurance broker]]
[[Definition:Lloyd's broker]]
[[Definition:Placing broker]]
[[Definition:Producing broker]]
[[Definition:Broker of record]]
[[Definition:Broker of record letter (BOR)]]
[[Definition:Sub-agent]]
[[Definition:Appointed representative (AR)]]
[[Definition:Introducer appointed representative (IAR)]]
[[Definition:Tied agent]]
[[Definition:Multi-tied agent]]
[[Definition:Bancassurance]]
[[Definition:Affinity group marketing]]
[[Definition:Affinity partner]]
[[Definition:White-label distribution]]
[[Definition:Embedded insurance]]
[[Definition:Insurtech]]
[[Definition:Digital distribution]]
[[Definition:Direct-to-consumer distribution (D2C)]]
[[Definition:Direct writer]]
[[Definition:Aggregator (comparison site)]]
[[Definition:Insurance marketplace]]
[[Definition:Lead generation]]
[[Definition:Referral arrangement]]
[[Definition:Distribution agreement]]
[[Definition:Agency agreement]]
[[Definition:Brokerage agreement]]
[[Definition:Terms of business agreement (TOBA)]]
[[Definition:Commission]]
[[Definition:Brokerage commission]]
[[Definition:Override commission (overrider)]]
[[Definition:Contingent commission]]
[[Definition:Profit commission]]
[[Definition:Sliding-scale commission]]
[[Definition:Commission disclosure]]
[[Definition:Net rate]]
[[Definition:Gross rate]]
[[Definition:Fee-based compensation]]
[[Definition:Broker remuneration]]
[[Definition:Acquisition cost]]
[[Definition:CommissionAcquisition cost ratio]]
[[Definition:Loss ratio (L/R)]]
[[Definition:Combined ratio (CR)]]
[[Definition:Expense ratio]]
[[Definition:CombinedOperating ratio]]
[[Definition:CostUnderwriting of acquisitionresult]]
[[Definition:Underwriting profit]]
[[Definition:Underwriting year]]
[[Definition:Accident year]]
[[Definition:Calendar year]]
[[Definition:Policy year]]
[[Definition:Year of account (YOA)]]
[[Definition:Incurred but not reported reserve (IBNR)]]
[[Definition:Incurred but not enough reported reserve (IBNER)]]
[[Definition:Outstanding claim reserve]]
[[Definition:Case reserve]]
[[Definition:Bulk reserve]]
[[Definition:Claims incurred]]
[[Definition:Paid loss]]
[[Definition:Loss development]]
[[Definition:Loss development factor (LDF)]]
[[Definition:Loss triangle]]
[[Definition:Run-off triangle]]
[[Definition:Ultimate loss]]
[[Definition:Ultimate loss ratio]]
[[Definition:Reserve adequacy]]
[[Definition:Reserve redundancy]]
[[Definition:Reserve deficiency]]
[[Definition:Reserve release]]
[[Definition:Reserve strengthening]]
[[Definition:Prior-year reserve development]]
[[Definition:Discounted reserve]]
[[Definition:Undiscounted reserve]]
[[Definition:Technical provision]]
[[Definition:Best estimate liability (BEL)]]
[[Definition:Risk margin]]
[[Definition:Claims provision]]
[[Definition:Premium provision]]
[[Definition:Provision for outstanding claims]]
[[Definition:Equalization reserve]]
[[Definition:Catastrophe reserve]]
[[Definition:Net asset value (NAV)]]
[[Definition:Embedded value (EV)]]
[[Definition:European embedded value (EEV)]]
[[Definition:Market-consistent embedded value (MCEV)]]
[[Definition:Appraisal value]]
[[Definition:Value of in-force business (VIF)]]
[[Definition:Adjusted net asset value]]
[[Definition:Present value of future profits (PVFP)]]
[[Definition:Solvency margin]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Minimum capital requirement (MCR)]]
[[Definition:Own funds]]
[[Definition:Risk-based capital (RBC)]]
[[Definition:Surplus]]
[[Definition:Policyholders' surplus]]
[[Definition:Free reserves]]
[[Definition:Available capital]]
[[Definition:Eligible own funds]]
[[Definition:Tiered capital]]
[[Definition:Technical result]]
[[Definition:Non-technical account]]
[[Definition:Investment income]]
[[Definition:Investment return]]
[[Definition:Realized gain]]
[[Definition:Unrealized gain]]
[[Definition:Fair value]]
[[Definition:Amortized cost]]
[[Definition:Available-for-sale financial asset (AFS)]]
[[Definition:Held-to-maturity financial asset]]
[[Definition:Fair value through profit or loss (FVTPL)]]
[[Definition:Fair value through other comprehensive income (FVOCI)]]
[[Definition:Impairment loss]]
[[Definition:Reinsurance recoverable]]
[[Definition:Reinsurance asset]]
[[Definition:Reinsurance payable]]
[[Definition:Reinsurance deposit]]
[[Definition:Funds withheld]]
[[Definition:Ceded premium]]
[[Definition:Ceded loss]]
[[Definition:Ceded commission]]
[[Definition:Reinsurer's share of technical provisions]]
[[Definition:Sliding scale commission]]
[[Definition:Profit commission]]
[[Definition:Override commission]]
[[Definition:Overriding commission]]
[[Definition:Ceding commission]]
[[Definition:Contingent commission]]
[[Definition:Bordereaux]]
[[Definition:Premium bordereaux]]
[[Definition:Claims bordereaux]]
[[Definition:BindingPremium authority agreement (BAA)receivable]]
[[Definition:LineslipAgent's balance]]
[[Definition:ConsortiumInsurance receivable]]
[[Definition:FacilityInsurance payable]]
[[Definition:OpenInsurance marketcontract placementliability]]
[[Definition:SubscriptionPolicyholder marketliability]]
[[Definition:LeadPolicyholder underwriter (lead insurer)dividend]]
[[Definition:FollowingParticipating underwriterpolicy surplus]]
[[Definition:SlipDeferred tax asset]]
[[Definition:MarketDeferred reformtax contract (MRC)liability]]
[[Definition:Placing slipGoodwill]]
[[Definition:FirmIntangible order terms (FOT)asset]]
[[Definition:IndicationValue of business acquired (VOBA)]]
[[Definition:QuoteContractual service margin (CSM)]]
[[Definition:QuotationRisk adjustment (RA)]]
[[Definition:InvitationFulfilment tocash tenderflow]]
[[Definition:RequestCoverage for proposal (RFP)unit]]
[[Definition:RequestPremium forallocation quotationapproach (RFQPAA)]]
[[Definition:StatementBuilding ofblock factapproach (BBA)]]
[[Definition:ProposalGeneral formmeasurement model (GMM)]]
[[Definition:SubmissionVariable fee approach (VFA)]]
[[Definition:RiskLiability presentationfor remaining coverage (LRC)]]
[[Definition:FactLiability findfor incurred claims (LIC)]]
[[Definition:DemandsLoss and needs statementcomponent]]
[[Definition:SuitabilityOnerous assessmentcontract]]
[[Definition:InsuranceOnerous productcontract information document (IPID)loss]]
[[Definition:KeyPortfolio informationof documentinsurance (KID)contracts]]
[[Definition:Pre-contractualGroup disclosureof insurance contracts]]
[[Definition:DutyInsurance ofcontract disclosurerevenue]]
[[Definition:MaterialInsurance factservice expense]]
[[Definition:UtmostInsurance goodservice faith (uberrima fides)result]]
[[Definition:DutyInsurance offinance fairincome presentationor expense]]
[[Definition:BestOther advicecomprehensive income (OCI)]]
[[Definition:AdvisedDiscount salerate]]
[[Definition:NonLocked-advisedin salediscount (execution only)rate]]
[[Definition:ProductCurrent oversightdiscount and governance (POG)rate]]
[[Definition:TargetYield marketcurve]]
[[Definition:ProductRisk-free approval processrate]]
[[Definition:ProductGross distributionpremium arrangementvaluation (GPV)]]
[[Definition:ConductNet ofpremium businessvaluation (NPV)]]
[[Definition:TreatingStatutory customers fairly (TCF)accounting]]
[[Definition:CustomerGenerally outcomeaccepted accounting principles (GAAP)]]
[[Definition:VulnerableInternational customerFinancial Reporting Standard (IFRS)]]
[[Definition:ComplaintsIFRS handling procedure17]]
[[Definition:InsuranceIFRS distribution directive (IDD)9]]
[[Definition:ContinuingStatutory professional development (CPD)surplus]]
[[Definition:FitAdmitted and proper requirementsasset]]
[[Definition:LicensingNon-admitted requirementasset]]
[[Definition:AppointmentSalvage (ofand agent or intermediary)subrogation]]
[[Definition:RegisterSubrogation of intermediariesrecoverable]]
[[Definition:Cross-borderSalvage distributionrecoverable]]
[[Definition:FreedomLoss ofadjustment servicesexpense (FOSLAE)]]
[[Definition:FreedomAllocated ofloss establishmentadjustment expense (FOEALAE)]]
[[Definition:PassportingUnallocated loss adjustment expense (ULAE)]]
[[Definition:Third-countryDefence branchcost]]
[[Definition:E&OClaims insurancehandling (professional indemnity insurance)expense]]
[[Definition:ErrorsManagement andexpense omissions insuranceratio (E&OMER)]]
[[Definition:ProfessionalTotal indemnityexpense insuranceratio (PITER)]]
[[Definition:FiduciaryReturn dutyon equity (ROE)]]
[[Definition:DutyReturn ofon carecapital (ROC)]]
[[Definition:ConflictEconomic of interestcapital]]
[[Definition:ClientCapital moneyadequacy]]
[[Definition:Retrocession accounting]]
[[Definition:Aggregate stop-loss]]
[[Definition:Aggregate excess of loss]]
[[Definition:Deposit accounting]]
[[Definition:Finite reinsurance]]
[[Definition:Risk transfer test]]
[[Definition:Significant insurance risk]]
[[Definition:Actuarial liability]]
[[Definition:Actuarial reserve]]
[[Definition:Net income]]
[[Definition:Comprehensive income]]
[[Definition:Retained earnings]]
[[Definition:Shareholders' equity]]
[[Definition:Book value]]
[[Definition:Tangible book value]]
[[Definition:Loss reserve to surplus ratio]]
[[Definition:Premium to surplus ratio]]
[[Definition:Net leverage ratio]]
[[Definition:Investment leverage]]
[[Definition:Float]]
[[Definition:Insurance float]]
[[Definition:Cash flow underwriting]]
[[Definition:Profit and loss account (P&L)]]
[[Definition:Balance sheet]]
[[Definition:Statement of comprehensive income]]
[[Definition:Statement of financial position]]
[[Definition:Technical account]]
[[Definition:Revenue account]]
[[Definition:Syndicate annual account]]
[[Definition:Funds at Lloyd's (FAL)]]
[[Definition:Premium trust fund]]
[[Definition:InsurerInsurance securitycontract (carrier financial strength)boundary]]
[[Definition:Admitted carrier (authorised insurer)Cohort]]
[[Definition:Non-admittedAnnual carrier (non-authorised insurer)cohort]]
[[Definition:SurplusTransition lines marketapproach]]
[[Definition:ExcessFull andretrospective surplus lines (E&S)approach]]
[[Definition:LondonModified marketretrospective approach]]
[[Definition:Lloyd'sFair ofvalue Londonapproach]]
[[Definition:SyndicateExperience adjustment]]
[[Definition:ManagingConfidence agent (Lloyd's)level]]
[[Definition:Lloyd'sProbability coverholderof sufficiency]]
[[Definition:DelegatedChain-ladder authoritymethod]]
[[Definition:ThirdBornhuetter-partyFerguson administrator (TPA)method]]
[[Definition:ClaimsExpected administratorloss ratio method]]
[[Definition:Loss adjuster (loss adjustor)reserving]]
[[Definition:PremiumClaim collectionfrequency]]
[[Definition:PremiumClaim financingseverity]]
[[Definition:InstallmentAverage billingcost per claim]]
[[Definition:PolicyWritten administrationto earned ratio]]
[[Definition:PolicyPremium issuanceearning pattern]]
[[Definition:Mid-termDeferred adjustmentreinsurance (MTA)premium]]
[[Definition:EndorsementPrepaid reinsurance premium]]
[[Definition:RenewalAccrued premium]]
[[Definition:RenewalReturn retention ratepremium]]
[[Definition:Lapse]]
[[Definition:Cancellation]]
[[Definition:Book of business]]
[[Definition:Portfolio transfer]]
[[Definition:NovationLoss portfolio transfer (LPT)]]
[[Definition:Run-offAdverse development cover (ADC)]]
[[Definition:Gross writtenRetrospective premium (GWP)adjustment]]
[[Definition:Net writtenAudit premium (NWP)]]
[[Definition:CedingMinimum commissionand deposit premium]]
[[Definition:FrontingReinstatement arrangementpremium]]
[[Definition:FrontingIntercompany insurerelimination]]
[[Definition:CapacityConsolidated account]]
[[Definition:RiskSolo appetiteaccount]]
[[Definition:UnderwritingSegmental guidelinereporting]]
[[Definition:UnderwritingLine authorityof business]]
[[Definition:BindingClass limitof business]]
[[Definition:ReferralFunctional (to underwriter)currency]]
[[Definition:Peer-to-peerForeign insuranceexchange (P2P)reserve]]
[[Definition:ParametricCurrency insurancetranslation distributionadjustment]]
[[Definition:MicroinsuranceHedging reserve]]
[[Definition:GroupMatching insurance schemeadjustment]]
[[Definition:VoluntaryVolatility benefitadjustment]]
[[Definition:WorksiteSurplus marketingrelief]]
[[Definition:Cross-selling]]
[[Definition:Up-selling]]
[[Definition:Multi-channel distribution]]
[[Definition:Omnichannel distribution]]
[[Definition:Point-of-sale insurance]]
[[Definition:Ancillary insurance intermediary]]
[[Definition:Travel distribution (ancillary insurance)]]
[[Definition:Motor dealer distribution]]
[[Definition:Retrocession broker]]
[[Definition:Wholesale market]]
[[Definition:Market access]]
[[Definition:Distribution footprint]]
[[Definition:Pipeline (sales pipeline)]]
[[Definition:Hit ratio (quote-to-bind ratio)]]
[[Definition:Conversion rate]]
[[Definition:Loss ratio (L/R)]]
[[Definition:Persistency rate]]
[[Definition:Customer lifetime value (CLV)]]
[[Definition:Net promoter score (NPS)]]
[[Definition:Application programming interface (API) integration]]
[[Definition:Straight-through processing (STP)]]
[[Definition:Electronic placement]]
[[Definition:Placing platform]]
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