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:
“I do not know what right I have to so much happiness, but rather hold it in reserve till the time of my desert.”
—Henry David Thoreau (1817–1862)