Statutory Reserve
In the business of insurance, statutory reserves are those liabilities an insurance company is legally required to maintain on its balance sheet with respect to the unmatured obligations (i.e., expected future claims) of the company.
Read more about Statutory Reserve: Life Insurance, See Also
Famous quotes containing the word reserve:
“If a walker is indeed an individualist there is nowhere he can’t go at dawn and not many places he can’t go at noon. But just as it demeans life to live alongside a great river you can no longer swim in or drink from, to be crowded into safer areas and hours takes much of the gloss off walking—one sport you shouldn’t have to reserve a time and a court for.”
—Edward Hoagland (b. 1932)