8m and a huge increase in unearned premiums
Increase in technical provisions and unearned premiums
contributed to the growth in liabilities, the QCB said in its '2015 Financial Stability Review'.
The authors cover statutory basis reserves, tax basis reserves, qualification as a life insurance company, life insurance reserves, unearned premiums
and unpaid losses and a wide variety of other related subjects.
As security for the insured's payment obligation, the insured grants the premium finance company a security interest in the financed policy, including unearned premiums
that would be payable to the insured in the event of any reduction or cancellation of the applicable insurance coverages.
The drop in NEP was alleviated by the release of AED 72mn in provisions for unearned premiums
In addition, guaranty associations may also repay policyholders for unearned premiums
- premiums paid for coverage beyond the point of insolvency.
Net premium income, after reinsurance and provisions for unearned premiums
, continued to grow at about 20 per cent in the first and second quarters.
This amount is increased by 80% of the unearned premiums
on insurance contracts at the end of the preceding tax year, and is decreased by 80% of the unearned premiums
on insurance contracts at the end of the current tax year.
The new functions also handle earned and unearned premiums
with multiple currencies and companies.
First Insurance claimed when insurance policies were canceled, the Hagan Agency should have forwarded the unearned premiums
60, Accounting and Reporting by Insurance Enterprises, by requiring that reinsurance receivables and unearned premiums
paid to the reinsurer be reported as assets.
reserves and the present value of estimated future installment premiums net of ceding commissions on credit derivative policies (discounted at 1.