Examples of life insurance business in a sentence
For further details, refer to Note 1(hh) Life Insurance Business.
Sale of the Domestic Individual Life Insurance Business On October 1, 1998, the Company sold its domestic individual life insurance business to Lincoln for $1 billion in cash.
In accordance with the requirements of Australian Accounting Standard AASB 1038 Life Insurance Business, we recognise the tax position of policyholders in our life company in income and reverse its impact in tax expense.
Management's Discussion and Analysis of Financial Condition and Results of Operations (Continued) AETNA FINANCIAL SERVICES (CONTINUED) Sale of Domestic Individual Life Insurance Business On October 1, 1998, the Company sold its domestic individual life insurance business to Lincoln for $1 billion in cash.
In prior periods, these amounts were offset in deriving non-interest income and operating expenses on a cash earnings basis; and • Policyholder tax recoveries: Income and tax amounts that are grossed up to comply with the AAS covering Life Insurance Business (policyholder tax recoveries) were reversed in deriving income and taxation expense on a cash earnings basis.