Concept Guidance: |
This is the value, as at the relevant date, of future net written premium income for contracts for which the insurer is already committed that will expose the insurer to material risks in the subsequent relevant period, but are not otherwise recognised within the capital requirements.Typically this will be for policies for which a written premium is not yet recognised under accounting standards, and have not been included in the premium liabilities, but for which the insurer has already committed to cover.
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