Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Actuarial reserves — An actuarial reserve is a liability equal to the net present value of the future expected cash flows of a contingent event. In the insurance context an actuarial reserve is the present value of the future cash flows of an insurance policy and the … Wikipedia
Actuarial present value — In actuarial science, the actuarial present value of a payment or series of payments which are random variables is the expected value of the present value of the payments, or equivalently, the present value of their expected values.This applies… … Wikipedia
Reserve — (sometimes Reserves) may refer to:* Course reserve, library materials reserved for particular users * Dynamic reserve, the set of metabolites that the organism can use for metabolic purposes * Reserve clause, in North American professional sports … Wikipedia
Actuarial science — are professionals who are qualified in this field through examinations and experience. Actuarial science includes a number of interrelating subjects, including probability and statistics, finance, and economics. Historically, actuarial science… … Wikipedia
Statutory reserve — In the business of insurance, statutory reserves are those liabilities an insurance company is legally required to maintain on its balance sheet with respect to the unmatured obligations (i.e., expected future claims) of the company. Life… … Wikipedia
Computation of actuarial reserves — generally refers to the process of calculating the amount which an insurance company must hold in reserve for expected future liabilities, or Actuarial reserves.The calculation process often involves a number of assumptions, particularly in… … Wikipedia
past service reserve — England, Scotland, Wales An actuarial method for calculating the value of a member s benefits in a defined benefit pension scheme (defined benefit scheme). The method uses the value of the member s accrued benefits based on his pensionable… … Law dictionary
actuary — ac·tu·ary / ak chə ˌwer ē, shə / n pl ar·ies: a person who calculates insurance and annuity premiums, reserves, and dividends Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. actuary … Law dictionary
Actuary — Damage from Hurricane Katrina. Actuaries need to estimate long term averages of such damage in order to accurately price property insurance and set appropriate reserves. Occupation Names Actuary … Wikipedia
Canada Pension Plan — The Canada Pension Plan (CPP) is a contributory, earnings related social insurance program. It forms one of the two major components of Canada s public retirement income system, the other component being Old Age Security (OAS). Other parts of… … Wikipedia
