Glossary entry (derived from question below)
English term or phrase:
Onerousity Assessment
Arabic translation:
تقييم عبء الإلتزامات
Added to glossary by
aya omar
Mar 14 09:24
2 mos ago
17 viewers *
English term
Onerousity Assessment
English to Arabic
Bus/Financial
Business/Commerce (general)
1.1.1 Onerousity Assessment
As part of IFRS 17 requirements, all products (group of contracts with similar risks and managed together) are subject to a further test to assess the profitability before allocating into groups.
GIG Parent evaluates all products at each UW year by considering:
All expected cash inflows (premium and issuance fees) during the contract period
All expected cash outflows (acquisitions, admin expenses, claims, risk adjustment, etc.)
Then, applying discounting (to reflect the time value of money)
If the present value of outflows outweighs the present value of inflows, then the product is classified as “Onerous”, and a loss component (for the excess losses) is calculated and recognized immediately
As of the valuation date, GIG Parent classified the following products as “Onerous” for cohort 2023 (while all other products are classified as profitable):
As part of IFRS 17 requirements, all products (group of contracts with similar risks and managed together) are subject to a further test to assess the profitability before allocating into groups.
GIG Parent evaluates all products at each UW year by considering:
All expected cash inflows (premium and issuance fees) during the contract period
All expected cash outflows (acquisitions, admin expenses, claims, risk adjustment, etc.)
Then, applying discounting (to reflect the time value of money)
If the present value of outflows outweighs the present value of inflows, then the product is classified as “Onerous”, and a loss component (for the excess losses) is calculated and recognized immediately
As of the valuation date, GIG Parent classified the following products as “Onerous” for cohort 2023 (while all other products are classified as profitable):
Proposed translations
(Arabic)
3 +1 | تقييم عبء الإلتزامات | HATEM EL HADARY |
4 | تقييم الجدوى الاقتصادية | Motaz Fahmy |
3 | تقييم الإرهاق/الإتعاب | TargamaT team |
Proposed translations
+1
11 mins
Selected
تقييم عبء الإلتزامات
تقييم عبء الإلتزامات
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Note added at 12 mins (2024-03-14 09:37:12 GMT)
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An Onerousity Assessment is an evaluation of the burden or difficulty associated with a specific course of action, agreement, or regulation. The purpose of this assessment is to determine whether the potential benefits outweigh the costs or drawbacks.
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Note added at 12 mins (2024-03-14 09:37:12 GMT)
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An Onerousity Assessment is an evaluation of the burden or difficulty associated with a specific course of action, agreement, or regulation. The purpose of this assessment is to determine whether the potential benefits outweigh the costs or drawbacks.
4 KudoZ points awarded for this answer.
5 mins
تقييم الإرهاق/الإتعاب
تقييم الإرهاق/الإتعاب
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Note added at 6 mins (2024-03-14 09:31:25 GMT)
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https://fastercapital.com/arabpreneur/الركود-المالي--استراتي...
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Note added at 6 mins (2024-03-14 09:31:25 GMT)
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https://fastercapital.com/arabpreneur/الركود-المالي--استراتي...
12 mins
تقييم الجدوى الاقتصادية
تقييم الجدوى الاقتصادية
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Note added at 18 mins (2024-03-14 09:43:01 GMT)
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تقييم العبء والخسارة
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Note added at 18 mins (2024-03-14 09:43:01 GMT)
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تقييم العبء والخسارة
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