GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Total Admitted Assets


Synonyms:total and admitted assets, total assets and liabilities
Filed Under: insurance
Tags: insurance
 

Definition of total admitted assets

total admitted assets
1. The total combined assets that an insurance company is allowed by law to include in the company's financial statements when determining their solvency.

Related Terms and Acronyms:

  • asset   Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
  • general account (GA)   Investments and assets that an insurer uses for paying benefits and claims.
  • legal reserve   The legally mandated minimum amount of money an insurer must keep liquid in order to satisfy its obligations to policyholders.
  • loss reserve   A reserve of money and liquid assets set aside by an insurer for the payment of claims that have been submitted but have yet to be paid out.
  • overall liquidity ratio   A method of determining how easily and quickly a company can sell off assets to pay off its debts.
  • valuation reserve   A financial reserve kept by an insurer in case a liability is larger than expected or an insurer's investments or assets are overvalued.

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