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It is most closely associated with the Lloyd's of London insurance market that comprises numerous competing "syndicates", and in order to close each accounting year and declare a profit or loss, each syndicate annually "reinsures to close" its books. In most cases, the liabilities are simply reinsured into the subsequent accounting year of the ...
Life insurance policy dividends are returns on premiums that a policyholder receives from the insurance company when it has surplus earnings. As a general rule, life insurance policy dividends are ...
Insurance companies rate over-redemption insurance based upon a number of factors. These factors include, but are not limited to: what type of company is requesting the insurance and how long they've been in business, if the promotion is new or being renewed, the duration which the promotion is being held, the target area of the product, the number of units sold, the cost per unit, the number ...
In any type of demutualization, insurance policies, outstanding loans, etc., are not directly affected by the organization's change of legal form. In a full demutualization, the mutual completely converts to a stock company, and passes on its own (newly issued) stock, cash, and/or policy credits to the members or policyholders. No attempt is ...
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Whole life insurance policies not only cover a person indefinitely, but they can also pay dividends. As a policyholder, you can either receive these payments in cash, use them to offset future ...
The determination of the cash value, both the base amount and the applicable surrender charge, in the contract can be explicit by determining the value for each surrender date (guaranteed cash values), by referring to the value of specific investments or subject to the discretion of the insurance company, which is often executed to bring cash values in line with values of the investments of ...
In per risk, the cedent's insurance policy limits are greater than the reinsurance retention. For example, an insurance company might insure commercial property risks with policy limits up to $10 million, and then buy per risk reinsurance of $5 million in excess of $5 million. In this case a loss of $6 million on that policy will result in the ...