Abzinsungssatz
The interest rate used to calculate the present value of future insurance cash flows, crucial for reserving, pricing, and solvency calculations.
View termCategories
Insurance
Browse Insurance terms for finance professionals.
Languages
Aktuarielle Bewertung
A formal assessment of the present value of future policy liabilities and assets by an actuary, based on prescribed methods, used for solvency, funding, and regulatory compliance in insurance and pensions.
View termAntiselektion
A situation in which higher-risk individuals are more likely to purchase insurance, leading to an imbalance in the risk pool and potential losses for the insurer.
View termAufgeschobene Akquisition
Insurance industry shorthand for 'Deferred Acquisition Costs'—expenses incurred to acquire new and renewal insurance contracts, capitalized and amortized over the contract period in accordance with regulatory accounting (e.g., IFRS 17, US SAP).
View termAusschluss vom Versicherungsschutz
A specific condition or circumstance listed in an insurance policy for which benefits will not be paid, limiting the insurer’s liability.
View termBruttoprämie
The total amount of premium written by an insurer before deductions for reinsurance and other adjustments, reported as gross written premium.
View termDeckungsgrenze
The maximum amount an insurer will pay for a covered loss under an insurance policy, as specified in the contract terms and conditions.
View termDirektprämie
The total amount of insurance premiums received directly by an insurer from policyholders, excluding premiums assumed through reinsurance or ceded to reinsurers.
View termDirektversicherer
An insurance company that sells policies directly to the public without using independent agents or brokers. Direct writers employ their own salaried agents or use digital channels, and assume underwriting and claims responsibility.
View termEmbedded Value
A measure of the consolidated value of shareholders’ interests in the net assets and future profits of a life insurance company, excluding new business value.
View termErneuerungsquote
The percentage of insurance policies renewed at expiration compared to those eligible for renewal, used as a key indicator of customer retention and business stability.
View termExponierungseinheit
Exposure Unit is the fundamental measure of risk, such as a vehicle, property, or person, used to determine insurance premiums and aggregate exposure.
View termExpositionsgrundlage
The underlying metric or unit used to quantify the amount of risk an insurer is covering, such as number of vehicles, payroll, sales, or property value.
View termExtremrisiko
The risk of rare, extreme events causing large insurance losses, residing in the tail of a probability distribution, significant for catastrophe and solvency modeling.
View termGarantierter Mindestbetrag
A contractually stipulated minimum benefit, return, or payout that an insurer guarantees to a policyholder, regardless of investment or performance outcomes.
View termGesamthöchstgrenze
The maximum amount an insurer will pay for all covered losses during a policy period, regardless of the number or type of individual claims filed.
View termGesetzliche Haftung
The legally enforceable obligation of an insurer or insured to compensate a third party for loss or damage caused by acts, omissions, or negligence, as established by law, contract, or court judgment. Central to liability insurance products.
View termGesetzlicher Überschuss
The excess of an insurance company's admitted assets over its liabilities, as calculated under statutory accounting principles for regulatory purposes.
View termKapitalallokation
The process by which an insurer or group assigns capital resources to business lines, risks, or subsidiaries, optimizing return on equity and regulatory capital requirements.
View termKapitalanforderung
The minimum amount of capital an insurer must hold to meet regulatory standards and ensure solvency against policyholder risks, calculated per statutory formulae (e.g., Solvency II, RBC).
View termKapitalausstattung
A regulatory standard requiring insurers to maintain sufficient capital to absorb losses and meet policyholder obligations under adverse conditions.
View termKapitalertrag
Earnings generated from the investment of an insurer’s assets, including interest, dividends, and realized gains, contributing to overall profitability and policyholder surplus.
View termKapitalpuffer
Excess capital held by an insurer above regulatory minimums to absorb unexpected losses and support financial strength during adverse conditions.
View termKatastrophenmodellierung
Catastrophe Modeling is the use of advanced statistical and computational methods to estimate the potential financial impact of catastrophic events on insurance portfolios.
View termKostenansatz
The provision included in insurance premiums or reserves to cover the insurer’s operating expenses such as administration, commissions, and acquisition costs.
View termKostenaufschlag
The portion of an insurance premium added to cover the insurer’s operating expenses, including administration, commissions, and overheads.
View termKostenquote
A financial metric expressing an insurer’s operating expenses as a percentage of net premiums earned, used to assess efficiency.
View termKostenrückstellung
A liability set aside by an insurer to cover anticipated future administrative and claims adjustment expenses related to policies in force.
View termLeistungszahlung
A disbursement made by an insurer to a policyholder or beneficiary as specified by the terms of the insurance policy, usually upon occurrence of an insured event.
View termLiquiditätsrisiko
The risk that an insurer will not be able to meet its short-term financial obligations as they come due without incurring unacceptable losses, due to insufficient liquid assets or market constraints.
View termMorbditätsrisiko
The risk of policyholders experiencing illness, injury, or disability at rates higher than assumed in pricing and reserving, affecting health and disability insurance liabilities.
View termOperationelles Risiko
The risk of loss resulting from inadequate or failed internal processes, people, systems, or from external events, including legal and compliance risk, but excluding strategic and reputational risk.
View termPersistenzquote
The percentage of insurance policies remaining in force without lapsing, surrendering, or cancellation during a specified period; a key measure of policyholder retention.
View termPersistenzquote
A measure of the proportion of insurance policies remaining in force without lapsing or being surrendered over a specified period. A high persistency rate indicates policyholder retention and business stability.
View termPreisadäquanz
A measure of whether insurance premiums collected are sufficient to cover expected claims, expenses, and provide for required margins, as determined by actuarial analysis and regulatory requirements.
View termProduktgestaltung
The process of developing insurance products, including coverage terms, pricing, features, and risk selection criteria, in compliance with regulatory requirements.
View termProportionale Rückversicherung
A form of reinsurance in which the reinsurer shares a fixed percentage of both premiums and losses with the ceding insurer for covered risks.
View termPrämienangemessenheit
Premium Adequacy refers to the sufficiency of insurance premiums collected to cover expected claims, expenses, and maintain statutory solvency levels.
View termPrämieneinnahmen
The total amount of premium revenue earned by an insurer from written, earned, or gross premiums over a reporting period, net of cancellations and refunds. Essential for measuring insurer growth and solvency.
View termPrämienmangel
A situation where the unearned premium reserve is insufficient to cover the expected future claims and expenses on unexpired insurance policies, requiring a premium deficiency reserve under accounting rules.
View termRegulatorisches Kapital
The minimum amount of capital that an insurer or reinsurer is required to maintain by regulatory authorities, based on the assessed risk profile, to ensure ongoing solvency and policyholder protection.
View termReservepolster
The surplus of available reserves over the minimum regulatory or actuarial requirements to ensure insurer solvency and stability. Used as a buffer against adverse claim developments.
View termRetrozedentenvertrag
A reinsurance contract under which a reinsurer transfers part of the risks it has assumed to another reinsurer (the retrocessionaire), to further spread risk exposure.
View termRisikoadjustierung
A quantitative allowance in insurance accounting and actuarial reserving that reflects the uncertainty in the amount and timing of insurance cash flows, ensuring that liabilities are valued prudently.
View termRisikoadjustierung
An explicit amount added to insurance liabilities to reflect the compensation an insurer requires for bearing the uncertainty of non-financial risks. Mandated under IFRS 17 and Solvency II for technical provisions.
View termRisikobereitschaft
The level and type of risk an insurer or reinsurer is prepared to accept in pursuit of its strategic objectives, as formally set by its board and articulated in its risk management policies and capital planning.
View termRisikoexponierung
The total value or potential for financial loss that an insurer or reinsurer is subject to from insured risks, measured before the effect of risk mitigation or transfer.
View termRisikogewichtung
A regulatory factor used to assess the riskiness of an asset or exposure, determining the required capital to be held against that risk under solvency or capital adequacy regimes.
View termRisikoklassifizierung
The process of categorizing insurance applicants into homogeneous risk groups to enable equitable premium pricing and adequate pooling of risk.
View termRisikomarge
An additional allowance in technical provisions to reflect the uncertainty in insurance liabilities, ensuring that the value of obligations is sufficient to transfer to another insurer.
View termRisikominderung
A set of strategies, measures, or controls used by insurers and reinsurers to reduce the likelihood, impact, or severity of insured or operational risks. This includes underwriting, reinsurance, diversification, and loss prevention programs.
View termRisikopool
A collective fund or grouping of insurance risks, where premiums from multiple policyholders are pooled to cover claims and losses incurred by any member of the pool, distributing risk and stabilizing costs.
View termRisikotransfer
Risk Transfer is the process by which one party shifts the financial consequences of a particular risk to another party, typically via insurance or reinsurance contracts.
View termRückkaufswert
The amount payable to the policyholder by the insurer if the insurance policy is voluntarily terminated before its maturity or claim event.
View termRückstellungsstärke
The adequacy of an insurer’s technical reserves to meet future claim obligations, as measured by actuarial and regulatory standards.
View termRückversicherungsforderungen
The amount of paid or unpaid claims and claim adjustment expenses that an insurer is entitled to recover from reinsurers under reinsurance contracts.
View termRückversicherungsmakler
A specialist intermediary who arranges reinsurance coverage between insurance companies and reinsurers, providing market access, negotiation, and placement services.
View termRückversicherungsvertrag
Reinsurance Treaty is a formal contract under which a reinsurer accepts a defined portion of risks from a primary insurer, typically covering specified lines of business.
View termRückwirkende Deckung
Insurance protection that applies to losses occurring prior to the inception date of the policy, typically in claims-made liability insurance, subject to specified retroactive dates.
View termSchadenentwicklung
The progression of reported and paid insurance claims over time, used to estimate ultimate losses and reserve adequacy.
View termSchadenhäufigkeit
The number of claims or loss events occurring within a specified period, used in pricing, underwriting, and actuarial analyses.
View termSchadenquote
Claims Ratio is the percentage of insurance claims paid or incurred in relation to the earned premiums for a given period, serving as a key indicator of underwriting performance and risk exposure.
View termSchadenrückstellung
A liability on an insurer’s balance sheet representing funds set aside to pay claims that have been incurred but not yet settled, including claims reported and IBNR (incurred but not reported).
View termSchadenrückstellung
A liability established by insurers to cover future claims payments for reported and incurred-but-not-reported (IBNR) losses, representing the estimated amount required to settle all obligations from insurance contracts.
View termSchadenrückstellung
A liability account on an insurer’s balance sheet representing the estimated value of unpaid reported and incurred but not reported (IBNR) claims, set aside to meet future policyholder obligations.
View termSchadenrückstellung
An insurer’s balance sheet liability representing funds set aside to cover outstanding and incurred but not reported (IBNR) claims. Calculated according to statutory, IFRS 17, or Solvency II requirements.
View termSchadenschwere
The average size or monetary value of losses for a given class of claims, used in actuarial modeling and underwriting.
View termSchadensdreiecks-Analyse
An actuarial technique using a triangular matrix to analyze the development of claims over time, enabling more accurate reserving, forecasting, and financial reporting.
View termSchadensleckage
The financial loss resulting from the difference between the actual amount paid on claims and the amount that should have been paid if claims had been handled optimally according to policy terms and best practices.
View termSchadensmanagement
The entire process of handling insurance claims from notification through investigation, assessment, settlement, and closure, governed by policy terms, regulatory standards, and operational protocols.
View termSchadensregulierung
The process of investigating, evaluating, and settling insurance claims to determine the insurer’s liability and the amount to be paid to the policyholder or beneficiary.
View termSchattenbuchführung
An accounting method under IFRS 17 that allows changes in insurance contract liabilities, recognized in equity, to be reflected in related assets, such as policyholder participation features.
View termSelbstbehaltsgrenze
The maximum amount of risk or loss an insurance company or reinsurer retains on a policy or portfolio before transferring the excess to reinsurance; a key parameter in underwriting and reinsurance treaties.
View termSelbstbehaltsgrenze
The maximum risk amount an insurer or reinsurer retains before transferring the excess to another reinsurer, as stipulated in reinsurance agreements.
View termSolvabilitätsmarge
Solvency Margin is the excess of an insurance company's assets over its liabilities, required by regulators as a buffer to ensure policyholder protection and financial stability.
View termSolvabilitätsquote
A regulatory metric that compares an insurer's capital to its required solvency capital, used to assess financial strength and regulatory compliance.
View termStatutarische Buchführung
The accounting principles and methods prescribed by insurance regulators for financial reporting. Statutory accounting emphasizes solvency and conservative valuation of assets and liabilities. Required for regulatory filings in most jurisdictions.
View termSterbetafel
A statistical chart showing the probability of death for each age group within a population, used by insurers and actuaries to price life insurance and calculate reserves.
View termStop-Loss
A type of reinsurance or policy provision in which the insurer is protected against losses above a specified limit, after which the reinsurer or stop loss cover assumes liability.
View termStornogebühr
Surrender Charge is a fee imposed by insurers on policyholders who terminate their insurance policy or withdraw funds before a specified period.
View termStornoquote
The percentage of insurance policies that are allowed to expire or are not renewed by policyholders within a specified period.
View termTechnische Rückstellung
The mandatory liability on an insurer’s balance sheet representing the amount set aside to cover future insurance claims, unearned premiums, and actuarial obligations, as required by insurance regulations.
View termTechnische Rückstellung
The total amount set aside by insurers as liabilities to meet all future policyholder claims, unearned premiums, and related obligations, calculated using actuarial methods.
View termVerdiente Prämie
The portion of premium that corresponds to the expired part of the policy period and has been 'earned' by providing insurance coverage.
View termVersicherungsfloat
The investable funds generated from premiums received by an insurer that have not yet been paid out as claims or expenses.
View termVersicherungsnehmerdividende
A non-guaranteed distribution of surplus or profit to eligible participating policyholders, typically in participating life insurance, reflecting the insurer’s performance after meeting contractual obligations.
View termVersicherungszyklus
A recurring pattern in insurance markets marked by periods of competitive pricing (soft market) and restrictive pricing (hard market), impacting profitability and risk appetite.
View termVertriebskanal
Any system or intermediary through which insurance products are marketed, sold, or delivered to policyholders, including agents, brokers, bancassurance, or direct platforms.
View termWiederherstellungsklausel
A provision in insurance or reinsurance contracts that specifies the terms under which coverage is restored after a claim payment, typically requiring an additional premium. Most common in catastrophe reinsurance, it allows for the policy limit to be reset following a loss event.
View termZeichnungsrisiko
The risk of loss resulting from insurance underwriting activities, including insufficient premiums, inappropriate selection, or adverse claims development.
View termZusatzleistung
An additional coverage or benefit added to a base insurance policy through a rider, providing extra protection or features as specified in the policy terms.
View term