Opposite of Defined Benefit Scheme . A scheme where the benefits are determined on a money purchase basis. Relating to populations and their behaviour. A bank account. A term used in connection with reinsurance.
Reinsurance involves the payment of premiums to the reinsurer.
If the direct writer is short of capital, the reinsurer may deposit these premiums back with the insurer. A premium paid at the start of a period of cover, which may be followed by an adjustment premium when all the relevant rating data is known. A contract to trade an underlying asset in the future, eg an Option or a Future . A deterministic model assumes that the values of all variables are known in advance, as opposed to a Stochastic model. The factors emerging from a chain ladder calculation which are the ratios of claims in successive development years.