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[[Definition:GrossActuarial written premium (GWP)risk]]
[[Definition:NetAdverse written premium (NWP)selection]]
[[Definition:GrossAggregate earned premium (GEP)limit]]
[[Definition:NetAggregate earned premium (NEP)stop-loss]]
[[Definition:UnearnedAggregation premium reserve (UPR)risk]]
[[Definition:UnearnedAllocated premiumloss adjustment expense (ALAE)]]
[[Definition:As low as reasonably practicable (ALARP)]]
[[Definition:Attachment point]]
[[Definition:Attrition rate]]
[[Definition:Basis risk]]
[[Definition:Bordereaux]]
[[Definition:Burning cost]]
[[Definition:Capacity]]
[[Definition:Capital adequacy]]
[[Definition:Catastrophe bond (Cat bond)]]
[[Definition:Catastrophe excess of loss]]
[[Definition:Catastrophe model]]
[[Definition:Catastrophe risk]]
[[Definition:Cedant]]
[[Definition:Claims frequency]]
[[Definition:Claims reserving]]
[[Definition:Claims severity]]
[[Definition:Claims triangle]]
[[Definition:Clash cover]]
[[Definition:Coinsurance]]
[[Definition:Combined ratio]]
[[Definition:Concentration risk]]
[[Definition:Correlation risk]]
[[Definition:Credit risk]]
[[Definition:Cumulative exposure]]
[[Definition:Deductible]]
[[Definition:Earned premium]]
[[Definition:WrittenEconomic premiumcapital]]
[[Definition:PremiumEmerging deficiency reserverisk]]
[[Definition:Additional unexpiredEnterprise risk reservemanagement (AURRERM)]]
[[Definition:DeferredEvent acquisition cost (DAC)limit]]
[[Definition:AcquisitionExcess costof loss (XoL)]]
[[Definition:AcquisitionExceedance cost ratioprobability]]
[[Definition:LossExpected ratio (L/R)loss]]
[[Definition:Combined ratio (CR)]]
[[Definition:Expense ratio]]
[[Definition:Operating ratioExposure]]
[[Definition:UnderwritingExposure resultmanagement]]
[[Definition:UnderwritingFacultative profitreinsurance]]
[[Definition:UnderwritingFinite yearreinsurance]]
[[Definition:AccidentFrequency-severity yearmodel]]
[[Definition:Calendar yearFronting]]
[[Definition:PolicyGross yearwritten premium (GWP)]]
[[Definition:Year of account (YOA)Hazard]]
[[Definition:Incurred but not reportedenough reservereserved (IBNRIBNER)]]
[[Definition:Incurred but not enough reported reserve (IBNERIBNR)]]
[[Definition:OutstandingIncurred claimloss reserveratio]]
[[Definition:Case reserveIndemnity]]
[[Definition:BulkIndustry reserveloss warranty (ILW)]]
[[Definition:ClaimsInherent incurredrisk]]
[[Definition:PaidInsurance-linked losssecurity (ILS)]]
[[Definition:Insurance risk]]
[[Definition:Insured peril]]
[[Definition:Key risk indicator (KRI)]]
[[Definition:Large loss]]
[[Definition:Latent liability]]
[[Definition:Law of large numbers]]
[[Definition:Limit of liability]]
[[Definition:Line size]]
[[Definition:Liquidity risk]]
[[Definition:Lloyd's market]]
[[Definition:Loss adjustment expense (LAE)]]
[[Definition:Loss development]]
[[Definition:Loss development factor (LDF)]]
[[Definition:Loss frequency]]
[[Definition:Loss mitigation]]
[[Definition:Loss portfolio transfer (LPT)]]
[[Definition:Loss ratio (L/R)]]
[[Definition:Loss reserve]]
[[Definition:Loss severity]]
[[Definition:Loss triangle]]
[[Definition:Run-offMarket trianglerisk]]
[[Definition:UltimateMaximum foreseeable loss (MFL)]]
[[Definition:UltimateMaximum possible loss ratio(MPL)]]
[[Definition:ReserveModel adequacyrisk]]
[[Definition:ReserveMonte redundancyCarlo simulation]]
[[Definition:ReserveMoral deficiencyhazard]]
[[Definition:ReserveMorale releasehazard]]
[[Definition:ReserveNatural strengtheningcatastrophe (Nat cat)]]
[[Definition:Prior-yearNet reserve developmentretention]]
[[Definition:DiscountedNet reservewritten premium (NWP)]]
[[Definition:UndiscountedObligatory reservetreaty]]
[[Definition:TechnicalOccurrence provisionlimit]]
[[Definition:BestOperational estimate liability (BEL)risk]]
[[Definition:RiskOutstanding marginloss reserve]]
[[Definition:ClaimsOwn provisionrisk and solvency assessment (ORSA)]]
[[Definition:PremiumParametric provisioninsurance]]
[[Definition:Provision for outstanding claimsPeril]]
[[Definition:EqualizationPolicy reservelimit]]
[[Definition:Catastrophe reservePooling]]
[[Definition:NetPortfolio asset value (NAV)runoff]]
[[Definition:EmbeddedProbable valuemaximum loss (EVPML)]]
[[Definition:EuropeanProportional embedded value (EEV)reinsurance]]
[[Definition:Market-consistentQuota embedded value (MCEV)share]]
[[Definition:AppraisalRate valueadequacy]]
[[Definition:ValueRate ofon in-force businessline (VIFRoL)]]
[[Definition:Adjusted net asset valueReinsurance]]
[[Definition:PresentReinsurance value of future profits (PVFP)recoverables]]
[[Definition:SolvencyReinsurance marginto close (RITC)]]
[[Definition:SolvencyReinstatement capital requirement (SCR)premium]]
[[Definition:MinimumRegulatory capital requirement (MCR)risk]]
[[Definition:OwnReputation fundsrisk]]
[[Definition:Residual risk]]
[[Definition:Retrocession]]
[[Definition:Return period]]
[[Definition:Risk aggregation]]
[[Definition:Risk appetite]]
[[Definition:Risk appetite framework]]
[[Definition:Risk assessment]]
[[Definition:Risk-based capital (RBC)]]
[[Definition:SurplusRisk classification]]
[[Definition:Policyholders'Risk surpluscontrol]]
[[Definition:FreeRisk reservesculture]]
[[Definition:AvailableRisk capitalexposure]]
[[Definition:EligibleRisk own fundsfactor]]
[[Definition:TieredRisk capitalfinancing]]
[[Definition:TechnicalRisk resultgovernance]]
[[Definition:Non-technicalRisk accountidentification]]
[[Definition:InvestmentRisk incomelimit]]
[[Definition:InvestmentRisk returnmapping]]
[[Definition:RealizedRisk gainmatrix]]
[[Definition:UnrealizedRisk gainmitigation]]
[[Definition:FairRisk valuemodelling]]
[[Definition:AmortizedRisk costmonitoring]]
[[Definition:Available-for-saleRisk financial asset (AFS)pool]]
[[Definition:Held-to-maturityRisk financial assetpremium]]
[[Definition:FairRisk value through profit or loss (FVTPL)profile]]
[[Definition:FairRisk value through other comprehensive income (FVOCI)quantification]]
[[Definition:ImpairmentRisk lossregister]]
[[Definition:ReinsuranceRisk recoverablereporting]]
[[Definition:ReinsuranceRisk assetretention]]
[[Definition:ReinsuranceRisk payablescoring]]
[[Definition:ReinsuranceRisk depositselection]]
[[Definition:FundsRisk withheldtaxonomy]]
[[Definition:CededRisk premiumtolerance]]
[[Definition:CededRisk losstransfer]]
[[Definition:CededScenario commissionanalysis]]
[[Definition:Reinsurer'sSelf-insured shareretention of technical provisions(SIR)]]
[[Definition:SlidingSolvency scalecapital commissionrequirement (SCR)]]
[[Definition:ProfitSolvency commissionmargin]]
[[Definition:OverrideSpread commissionof risk]]
[[Definition:OverridingStochastic commissionmodelling]]
[[Definition:CedingStop-loss commissionreinsurance]]
[[Definition:ContingentStrategic commissionrisk]]
[[Definition:BordereauxStress testing]]
[[Definition:Premium bordereauxSubjectivity]]
[[Definition:Claims bordereauxSubrogation]]
[[Definition:PremiumSurplus receivabletreaty]]
[[Definition:Agent'sSystemic balancerisk]]
[[Definition:InsuranceTail receivablerisk]]
[[Definition:InsuranceTechnical payablepricing]]
[[Definition:InsuranceTechnical contract liabilityreserve]]
[[Definition:PolicyholderTreaty liabilityreinsurance]]
[[Definition:Policyholder dividend]]
[[Definition:Participating policy surplus]]
[[Definition:Deferred tax asset]]
[[Definition:Deferred tax liability]]
[[Definition:Goodwill]]
[[Definition:Intangible asset]]
[[Definition:Value of business acquired (VOBA)]]
[[Definition:Contractual service margin (CSM)]]
[[Definition:Risk adjustment (RA)]]
[[Definition:Fulfilment cash flow]]
[[Definition:Coverage unit]]
[[Definition:Premium allocation approach (PAA)]]
[[Definition:Building block approach (BBA)]]
[[Definition:General measurement model (GMM)]]
[[Definition:Variable fee approach (VFA)]]
[[Definition:Liability for remaining coverage (LRC)]]
[[Definition:Liability for incurred claims (LIC)]]
[[Definition:Loss component]]
[[Definition:Onerous contract]]
[[Definition:Onerous contract loss]]
[[Definition:Portfolio of insurance contracts]]
[[Definition:Group of insurance contracts]]
[[Definition:Insurance contract revenue]]
[[Definition:Insurance service expense]]
[[Definition:Insurance service result]]
[[Definition:Insurance finance income or expense]]
[[Definition:Other comprehensive income (OCI)]]
[[Definition:Discount rate]]
[[Definition:Locked-in discount rate]]
[[Definition:Current discount rate]]
[[Definition:Yield curve]]
[[Definition:Risk-free rate]]
[[Definition:Gross premium valuation (GPV)]]
[[Definition:Net premium valuation (NPV)]]
[[Definition:Statutory accounting]]
[[Definition:Generally accepted accounting principles (GAAP)]]
[[Definition:International Financial Reporting Standard (IFRS)]]
[[Definition:IFRS 17]]
[[Definition:IFRS 9]]
[[Definition:Statutory surplus]]
[[Definition:Admitted asset]]
[[Definition:Non-admitted asset]]
[[Definition:Salvage and subrogation]]
[[Definition:Subrogation recoverable]]
[[Definition:Salvage recoverable]]
[[Definition:Loss adjustment expense (LAE)]]
[[Definition:Allocated loss adjustment expense (ALAE)]]
[[Definition:Unallocated loss adjustment expense (ULAE)]]
[[Definition:Defence costUnderinsurance]]
[[Definition:ClaimsUnderwriting handling expensecapacity]]
[[Definition:ManagementUnderwriting expense ratio (MER)cycle]]
[[Definition:TotalUnderwriting expense ratio (TER)discipline]]
[[Definition:ReturnUnderwriting on equity (ROE)guideline]]
[[Definition:ReturnUnderwriting on capital (ROC)limit]]
[[Definition:EconomicUnderwriting capitalprofit]]
[[Definition:CapitalUnderwriting adequacyrisk]]
[[Definition:RetrocessionUnderwriting accountingyear]]
[[Definition:AggregateUnexpired stop-lossrisk reserve]]
[[Definition:AggregateValue excessat ofrisk loss(VaR)]]
[[Definition:Deposit accountingVolatility]]
[[Definition:FiniteWorking reinsurancelayer]]
[[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:Insurance contract boundary]]
[[Definition:Cohort]]
[[Definition:Annual cohort]]
[[Definition:Transition approach]]
[[Definition:Full retrospective approach]]
[[Definition:Modified retrospective approach]]
[[Definition:Fair value approach]]
[[Definition:Experience adjustment]]
[[Definition:Confidence level]]
[[Definition:Probability of sufficiency]]
[[Definition:Chain-ladder method]]
[[Definition:Bornhuetter-Ferguson method]]
[[Definition:Expected loss ratio method]]
[[Definition:Loss reserving]]
[[Definition:Claim frequency]]
[[Definition:Claim severity]]
[[Definition:Average cost per claim]]
[[Definition:Written to earned ratio]]
[[Definition:Premium earning pattern]]
[[Definition:Deferred reinsurance premium]]
[[Definition:Prepaid reinsurance premium]]
[[Definition:Accrued premium]]
[[Definition:Return premium]]
[[Definition:Portfolio transfer]]
[[Definition:Loss portfolio transfer (LPT)]]
[[Definition:Adverse development cover (ADC)]]
[[Definition:Retrospective premium adjustment]]
[[Definition:Audit premium]]
[[Definition:Minimum and deposit premium]]
[[Definition:Reinstatement premium]]
[[Definition:Intercompany elimination]]
[[Definition:Consolidated account]]
[[Definition:Solo account]]
[[Definition:Segmental reporting]]
[[Definition:Line of business]]
[[Definition:Class of business]]
[[Definition:Functional currency]]
[[Definition:Foreign exchange reserve]]
[[Definition:Currency translation adjustment]]
[[Definition:Hedging reserve]]
[[Definition:Matching adjustment]]
[[Definition:Volatility adjustment]]
[[Definition:Surplus relief]]
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