Definition: Nonlife insurance
External debt - IMF
For nonlife insurance the following transactions result in external debt:
• Any prepayments of premiums by nonresidents are classified as external debt of the insurance company, under other debt liabilities.
• Reserves that are held against outstanding claims of nonresidents—that is, claims that have arisen because an event has occurred that results in a valid claim—are also external debt of the insurance company. Again, these reserves are included in other debt liabilities.
International Monetary Fund (IMF), "External Debt Statistics: Guide for Compilers and Users; Appendix I. Specific Financial Instruments and Transactions: Classifications", Washington D.C., 2003