Definition: Operating expenses for insurance - gross

Insurance services

Operating expenses (gross) comprise acquisition costs, change in deferred acquisition costs, administrative expenses minus reinsurance commissions and profit participation.
Source:
Directive 91/674/EEC, Articles 40 and 41 (referred to in Article 34 of European Union, Council Directive 91/674/EEC of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings (Official Journal of the European Communities No L 374, 31/12/1991, p. 7))
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