Statutory Reserve

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:

    Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are cheques drawn on insufficient funds.
    René Daumal (1908–1944)