Definition: Insurance technical reserves

Category: European System of Accounts (ESA)

Amounts that insurers set aside. The reserves are assets to the policyholders and liabilities to the insurers. The technical reserves can be distinguished between non-life and life insurance and annuities (ESA 2010). 

Technical provisions of insurance corporations and (autonomous and non-autonomous) pension funds against policy holders or beneficiaries as laid down in Council Directive 91/674/EEC of 19 December 1991 on the annual accounts and consolidated accounts of insurance undertakings (ESA 1995). http://ec.europa.eu/eurostat/product?code=KS-02-13-269&mode=view European Union, Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union, Official Journal of the European Union No L 174, 26.06.2013, p. 1 - 727

Eurostat, "European System of Accounts - ESA 1995", Office for Official Publications of the European Communities, Luxembourg, 1996Directive 91/674/EEC on the annual accounts and consolidated accounts of insurance undertakings