Glossary

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Term Definition Legal instruments

life protection reinsurance business

01/07/2016

THIS DEFINITION ONLY APPLIES TO THE INSURANCE COMPANY - REPORTING PART

means reinsurance acceptance which are contracts of insurance:

(1) falling within long-term insurance business class 1; or

(2) falling within long-term insurance business class III and providing index-linked benefits;

      that are not:

(3) a with-profits policy; or

(4) whole life assurances; or

(5) contracts to pay annuities on human life; or

(6) contracts which pay a sum of money on the survival of the life assured to a specific date or on his earlier death.