A reserve in an insurer’s annual statement, in addition to the legal requirements to provide for unexpected contingencies or losses.
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A reserve set aside for unforeseen events or damages. Found in the insurance company’s annual statement.
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UK: An amount reserved in the books of a company or other entity in respect of a specific future liability, e.g. payment of taxes.
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MEDICAL,USA: Portion of funds that insurance companies separate from surplus funds to provide for unusual and unexpectedly large claim amounts for catastrophic losses.