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Old 11-12-2017, 03:45 PM
Lenin Lenin is offline
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Default Earned premiums

What is the definition of earned premiums for a life insurer?

a) EP = GWP + dUPR
b) EP = GWP + dUPR + dMathR

May the definition vary depending on teh framework (e.g. IFRS, prudential etc) ?
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Old 11-12-2017, 05:57 PM
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Carol Marler
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Neither.

Because of the way modal premiums are treated in statutory accounting, you'll see labels for "due and deferred premiums" (not upr) and even premiums paid in advance. (Don't ask ) Life insurance accounting adjusts cash premiums; I don't think we even use the term written premiums.

It's most similar to a) but it's cash premiums with adjustment for those due and deferred entries. Benefit reserves are handled elsewhere and don't affect earned premiums.

All this is for statutory. Tax is different in detail, but similar to statutory in effect. And I have no idea about IFRS and don't remember US GAAP.
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