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.
A
- Acquisition costs
- Allocated investment return transferred to the technical account
- Asset management under an insurance wrapper
- Assumed reinsurance
- Available-for-sale financial assets (AFS)
B
C
- Capital base
- Capital redemption policy
- Ceded reinsurance
- Cedent
- Change in fair value reserve
- Claims incurred
- Claims
- Claims frequency
- Claims outstanding
- Claims paid
- Claims reserve
- Combined ratio
- Comprehensive income
- Concentration risk
- Cost ratio
- Credit policy
- Currency risk
D
- Deductable
- Defined benefit scheme
- Defined contribution scheme
- Direct investment return
- Dividend per earnings
- Dividend per share
- Direct insurance
- Discount rate
E
- Earnings per share
- Economic capital (EC)
- Effective dividend yield
- Embedded value
- EPS including change in the fair value reserve
- Equalisation reserve
- Equity/assets ratio
- Equity per share
- Equity risk
- Expense ratio
- Expense result
F
- Fair value reserve
- Financial assets designated as at fair value through profit or loss
- Fixed income assets
G
H
I
- Individual life insurance (with-profit/unit linked)
- Individual pension insurance (with-profit/unit-linked)
- Insurance margin
- Insurance policy
- Insurance technical result
- Insured
- Interest rate risk
- Investment assets
- Investment policy
- Investment result
- Investment return
L
- Liabilities for insurance and investment policies
- Liability adequacy test
- Life insurance
- Life risk
- Loading income
- Longevity risk
- Loss ratio (or claims ratio)
M
N
O
P
- P&C insurance (property and casualty insurance)
- Paid-up policy
- Policyholder
- Pension insurance
- Premiums earned
- Premiums in pure risk insurance
- Premium income
- Premium income on own account
- Price/earnings ratio (P/E)
- Principle of fairness
- Profit
- Profit at market values
- Property risk
- Provision for unearned premiums
R
- Regular premium
- Reinsurance
- Reinsurers share
- Return on assets
- Return on equity
- Risk life policy
- Risk policy
- Risk ratio
- Risk result
- Risk selection
- Run-off business
S
- Solvency ratio of technical provisions
- Single premium
- Solvency
- Solvency I
- Solvency II
- Solvency capital
- Solvency margin
- Solvency ratio
- Surrender
- Surrender value
T
- Technical provisions
- Technical result before investment return
- Total investment return
- Total technical reserves
- Total technical reserves on own account
- Tradional policy
- Transfer of liability