Glossary
This glossary includes the most essential property and casualty insurance and life insurance terminology as well as financial statements terms used in Sampo Group. Because of different meanings in some cases in property and casualty insurance vs. life insurance, there are two different explations for some of the insurance terms.
You can move from an English word to an equivalent Finnish word by clicking the 'Suomeksi' button on the upper right hand corner of the web page.
G
Gross written premiums
Gross written premiums is a central term in P&C insurance meaning total premiums received during the financial year or taken up as a receivable at the end of the year. In contrast to net premiums earned, premiums written are not capitalized; i.e. they are unaffected by opening and closing provisions for unearned premiums.
In life insurance business the equivalent term is 'Insurance premiums written'.