insurance business definition

insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.
insurance business means the undertaking or assumption of liability as an insurer under a contract of insurance:
insurance business means one or more aspects of the business of issuing or underwriting insurance or reinsurance and other businesses reasonably related thereto.

Examples of insurance business in a sentence

  • MODULEAU: AuthorisationCHAPTERAU-1: Authorisation Requirements AU-1.4 Definition of Regulated Insurance Services (continued)Carrying on of Insurance Business (Insurance Firms) AU-1.4.7The carrying on of insurance business includes the carrying out and effecting of insurance contracts as principal, including with limitation contracts of long-term insurance or contracts of general insurance.

  • The definition of offering insurance products is not necessarily clearly defined; that, along with the restrictions imposed under the Insurance Business Law, prohibits those without a license to offer and insurance products to integrate any insurance schemes into their risk finance proposals to companies.

  • Accounting for insurance contracts Accounting for insurance contracts such as insurance premiums, outstanding claims and underwriting reserves of domestic consolidated insurance subsidiaries is stipulated under Insurance Business Act and other laws and regulations.

  • An Insurer, ceasing to effect Contracts of Insurance, will be treated as being in a period of run-off until all liabilities to policyholders relating to the Insurance Business have been met.

  • This is higher than the minimum capital requirement of USD 10,393,649 calculated as per App4 of ‘The DFSA Rulebook, Prudential – Insurance Business Module.


More Definitions of insurance business

insurance business means the business of effecting and carrying out contracts
insurance business. ’ means life insurance business or non-life insurance business conducted or regarded as being conducted in the Republic, and includes reinsurance business;
insurance business means the business of, or in relation to the issue of, or the undertaking of liability under, life policies, or to make good or indemnify the insured against any loss or damage, including liability to pay damages or compensation contingent upon the happening of a specified event;
insurance business means the short-term insurance business of the Insurer;
insurance business means the business of an insurer in effecting, issuing and carrying out insurance;
insurance business means one or more aspects of the business of (a) issuing, selling, placing or underwriting insurance or (b) reinsurance.