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Insurance Definition: BALANCE SHEET

By Compuquotes Team on March 27th, 2008

BALANCE SHEET:

Definition:

  • Provides a snapshot of a company's financial condition at one point in time. It shows assets, including investments and reinsurance, and liabilities, such as loss reserves to pay claims in the future, as of a certain date. It also states a company's equity, known as policyholder surplus. Changes in that surplus are one indicator of an insurer's financial standing.

Information provided by Insurance Information Institute

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