pipeline premiums
Polish translation: przewidywane składki ubezpieczeniowe / składki zarachowane (jako należne) jeszcze nierozliczone
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| 22:42 May 23, 2015 |
| English to Polish translations [PRO] Bus/Financial - Finance (general) | |||||||
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|  Selected response from: mike23 Poland Local time: 21:44 | ||||||
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| 2 | przewidywane składki ubezpieczeniowe / składki zarachowane (jako należne) jeszcze nierozliczone |
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Answers
17 hrs confidence: 
przewidywane składki ubezpieczeniowe / składki zarachowane (jako należne) jeszcze nierozliczone Explanation: przewidywane składki ubezpieczeniowe składki zarachowane tytułem świadczonej w okresie sprawozdawczym ochrony ubezpieczeniowej, których faktyczne rozliczenie nastąpi w następnych okresach sprawozdawczych -------------------------------------------------- Note added at 17 hrs (2015-05-24 15:58:14 GMT) -------------------------------------------------- Pipeline reinsurance Premium - For non-life reinsurance contracts, estimates have to be made for expected future premium from policies already written but not reported at the reporting date. Due to the nature of reinsurance business, in particular treaty business, it takes a significant period of time before all premiums are reported for a given underwriting period. Therefore considerable judgement, experience and knowledge of the business is required by management in the estimation of pipeline premiums due from contract holders. Actual results may differ resulting in positive or negative change in estimated pipeline premium income. The pipeline premiums are estimated by using the Chain Ladder technique. This technique primarily uses historical reporting trends as a base for assessing future premium amounts. Historical premiums developments are mainly analysed by underwriting year, by type and line of business and by geographical territory. Estimated premium income information is also used to supplement the results of this technique. http://www.continental-re.com/uploads/2012_audited_financial... include an estimate of the premiums receivable on those contracts which incepted prior to the year end but which have not been notified by the balance sheet date (‘pipeline premium’). When calculating pipeline premiums it is assumed, where appropriate, that options to renew contracts automatically will be exercised. http://www.co-operative.coop/Corporate/PDFs/CISGIL/2013/CISG... |
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Reference comments
4 hrs peer agreement (net): +1 |
| Reference: pipeline premiums Reference information: At times, there is insufficient information available at the end of a financial period to enable an insurer to accurately identify the business written close to that balance sheet date for which the inception date is prior to the balance sheet date. Premium in respect of this business is often referred to as pipeline premium. Consistent with the principle stated in paragraph 9, pipeline premium is to be estimated and recognised to account for all risks assumed during the financial period. Estimates of the amount of pipeline premiums can be made using information from prior periods adjusted for the impact of recent trends and events. In addition, information about pipeline premiums may become available after the balance sheet date but before the reporting date that may enable more reliable estimates to be made. http://masb.org.my/index.php?option=com_content&view=article... ------------------ The premium liabilities which APRA requires to be evaluated is the unexpired business for which the insurer is on risk. This excludes business that is earned (period of risk is already past), but includes business that is unearned, both closed (premium has been received) or unclosed (premium has not been received, this can be referred to as “pipeline premium”). Unclosed premium is part of the difference between ultimate premium and written premiums, but is separate from the premium adjustments discussed in Section 3.5. A matching asset allowing for unclosed premium (premium yet to be received) should be estimated and explicitly shown. Capital requirements will be increased as higher levels of unclosed premium are estimated. http://actuaries.asn.au/Library/GI03papercollins.pdf |
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