Quarterly Return for Traditional and Risk Business September 2002
The series of ISI Quarterly Statistics has been substantially revised from
September 2002. The most obvious change is that reporting of risk business has been
separated from savings business. In addition, business is now reported on the basis of
products rather than movements and benefits rather than policies. There is now one report
for each product type, showing all movements for the quarter for that product.
For policies which include both savings and risk benefits,
wherever possible the savings and risk components will be reported separately. Initially
that may not be possible in all cases but should enable the benefits being sold to be more
easily identified as 'modular' products become more common.
Whereas previously the premium for a rider benefit was
included under the main product category, now the main product and each rider will be
reported as a separate benefit.
The separate reporting of savings business will not be
available for the September 2002 quarter but will commence with the December 2002 quarter.
It will be substantially expanded to capture business which was not previously reported.
Savings business will now be reported as either Funds under Management (funds for which
the company receives some form of remuneration for managing the funds) or Funds under
Administration (where the company receives some form of remuneration for administering the
funds).
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Quarterly Return for Traditional and Risk Business September 2002 |
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- Replacement Income - Risk
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- Life - Death & Disablement
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- Replacement Income - Group
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