GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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20:45 Nov 12, 2018 |
German to English translations [PRO] Bus/Financial - Insurance / Austrian endowment insurance statement | |||||||
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| Selected response from: Steve Robbie United Kingdom Local time: 22:59 | ||||||
Grading comment
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Summary of answers provided | ||||
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4 | profit allocation bands (or some such phrase) |
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2 | Ring-fencing of profits and accounts |
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Discussion entries: 3 | |
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Ring-fencing of profits and accounts Explanation: Ring-fencing of profits / ring-fencing of accounts both get lots of hits |
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profit allocation bands (or some such phrase) Explanation: Austrian life assurance policies are/were subdivided into Gewinnverbände for the purposes of determining the annual profit surplus awarded to each policy. I would be inclined to talk about "profit and expense allocation bands" or some such phrase. Abrechnungsverbände are generally subdivisions of Gewinnverbände. There does not appear to be any distinction between the two categories, other than the fact that one is a subdivision of the other. Although insurers continue to use both terms, recent legislation (as far as I can make out) abolishes the term "Gewinnverband" and talks about "Abrechnungsverbände" only: Es wird eine neue Z 7 hinzugefügt, in welcher der Begriff „Abrechnungsverband“ definiert wird. Aus Gründen der Vereinheitlichung wird anstatt der früher – nicht immer einheitlich – verwendeten Begriffe „Gewinn- und Abrechnungsverbände“ nur mehr der Begriff „Abrechnungsverband“ für alle Teilbestände des Versicherungsbestands und deren weitere Untergliederungen verwendet. https://www.fma.gv.at/download.php?d=1133 The official definition of Abrechnungsverband is now: Abrechnungsverband: Teilbestand des gesamten Versicherungsbestandes für gewinnberechtigte Lebensversicherungsverträge, der gebildet wird, um die Gewinnbeteiligung verursachungsgerecht vornehmen zu können, und der Versicherungsverträge zusammenfasst, die nach ihrer Struktur in gleicher Weise zum Gewinn beitragen. https://www.ris.bka.gv.at/GeltendeFassung.wxe?Abfrage=Bundes... |
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