Definition: Insurance technical reserves
European System of Accounts (ESA)
Amounts that insurers set aside. The reserves are assets to the policyholders and liabilities to the insurers. The technical reserves can be distinguished between non-life and life insurance and annuities (ESA 2010).
Technical provisions of insurance corporations and (autonomous and non-autonomous) pension funds against policy holders or beneficiaries as laid down in Council Directive 91/674/EEC of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings (ESA 1995).
Eurostat, "European System of National and Regional Accounts - ESA 2010", Luxembourg, 2013