A comprehensive charge levied by an investment manager or investment advisor to a client for providing a bundle of services, such as investment advice, investment research and brokerage services. Wrap fees allow an investment advisor to charge one straightforward fee to their clients, simplifying the process for both the advisor and the customer.


The price of an insurance policy, typically charged annually or semiannually.

Rendez-Vous de Septembre

Monte Carlo

Since 1957 the major players in the world Reinsurance market have met at the Rendez-Vous de Septembre in Monte-Carlo. For more than sixty years now, the Rendez-Vous de Septembre has brought together the major players in the world Reinsurance markets in Monte-Carlo including reinsurers, insurers and brokers and also attracted a large number of lawyers, bankers, … Read more

Unearned Premium Reserve (UPR)

A proportion of the premium due to the reinsurer retained by the ceding company as a guarantee for the fulfilment of the obligations of the reinsurer.

Unearned Premium

The portion of a premium already received by the insurer under which protection has not yet been provided. The entire premium is not earned until the policy period expires, even though premiums are typically paid in advance. That portion of the original premium that applies to the unexpired portion of risk. A fire or casualty … Read more

Underwriting Year of Experience

Underwriting result based on written premiums and ultimate losses from loss events falling within the same accounting period, where the accounting period is the period covered by the insurance policy or reinsurance agreement, regardless of when the premiums and losses are actually reported, booked or paid. For example, the 2019 underwriting Year includes results in … Read more