Our glossary explains technical terms from the areas finance and reinsurance. We hope it facilitates the understanding of our texts, publications and annual reports. If you have comments or suggestions, please use our
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Earnings per share, diluted
ratio calculated by dividing the consolidated net income (loss) by the weighted average number of shares outstanding. The calculation of the diluted earnings per share is based on the number of shares including subscription rights already exercised or those that can still be exercised.
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Earnings retention
non-distribution of a company’s profits leading to a different treatment for tax purposes than if profits were distributed.
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Excess return on capital allocated (xRoCA)
describes the IVC in relation to the allocated capital and shows the relative excess return generated above and beyond the weighted cost of capital.
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Expense ratio
administrative expenses (gross or net) in relation to the (gross or net) premium earned.
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Exposure
level of danger inherent in a risk or portfolio of risks; this constitutes the basis for premium calculations in reinsurance.
