| DIRECT PREMIUMS |
Refers to income from the sale of insurance policies by all companies, minus cancellations and including their participation in coinsurance. It includes both direct sales by insurers and those made through insurance brokers. |
| PREMIUM PER CAPITA |
Refers to direct premiums divided by the total population of the country. |
| NET RETAINED PREMIUMS |
Refers to direct premiums plus accepted premiums, minus ceded premiums. |
| ACCEPTED PREMIUMS |
Refers to the portion of premiums that companies accept from other insurance or reinsurance entities. |
| CEDED PREMIUMS |
Refers to the portion of direct or accepted premiums that companies transfer to reinsurers through proportional reinsurance contracts. It does not include the cost of Excess of Loss insurance. |
| CLAIM COSTS |
Refers to the total amount, net of reinsurance, of claims incurred during the period (Direct Claim Costs + Accepted Claim Costs – Ceded Claim Costs, or alternatively, Net Claims Paid + Net Claims Payable – Claims Payable as of December 31 of the previous year). |
ACQUISITION COSTS
|
Refers to the result obtained from the sum of commissions paid to brokers and reinsurers (for acceptances), minus commissions received from reinsurers (for cessions). |
| ADMINISTRATIVE COSTS |
Refers to all expenses necessary for the development and operation of insurance activities. |
| INTERMEDIATION COSTS |
Refers to the commissions and expenses generated by insurance intermediaries. |
| INVESTMENTS |
Refers to the total amount of the investment portfolio of insurance and reinsurance entities. |
| EQUITY |
Refers to the sum of Paid-in Capital, Legal Reserves, Regulatory Reserves, and Retained Earnings (Losses). |
