Technical provisions

Formed as the sum of the provision for unearned premiums and the provision for outstanding claims. In insurance companies’ profit and loss account, technical provisions describe the transfer items of claims paid and earned premium to be transferred to the balance sheet, which are the insurance company’s debt to policy holders. Technical provisions are thus comparable to accrued liabilities in the financial statement of other fields

Statistics using the definition

Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus