Definition A common metric used by insurance companies in the United Kingdom, which measures total premiums billed but not collected within a single year. This figure may include one-time premiums, as [..]

An industry standard formula for calculating levels of life and pensions new business over a period of tme, to smooth out the effect of large, one off payments. It is the total of new annual premiums [..]

A method for calculating levels of life, pensions and investment new business levels, to smooth out the effect of large, one-off payments. It is the total of new annual premiums plus 10% of single pre [..]