Gross Premiums Written
When a non-life insurance company closes a contract to provide insurance against loss, the revenues (premiums) expected to be received over the life of the contract are called gross premiums written. Insurance companies often purchase reinsurance to protect themselves against the risk of a loss above a certain threshold; the cost of reinsurance (reinsurance premiums) is deducted from gross premiums written to arrive at net premiums written. Net premiums written is the sum of all types of insurance premiums which a company may collect throughout the whole duration of existing insurance policies minus the costs like agent`s commissions or payments made for reinsurance.
Other articles related to "gross premiums written, premiums written, premiums, premium, written":
... Net premiums written is the sum of all types of insurance premiums which a company may collect throughout the whole duration of existing insurance policies minus the costs like agent`s commissions or ... company is financially sound when it possesses a positive net premiums written, it is also important to remember that having a negative net premiums doesn’t mean that the company is insolvent and is not capable of ... which are present in the process of transactions can affect the net premium written negative, but negative net written premiums can be temporary ...
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