GLOSSAR OF TERMS Mathematics professional who specializes in the probability of insurance, annuities, and financial instruments.  Contract that provides for income payments to an insured at regular intervals, either for a specific period or for the lifetime of the insured, in exchange for premium. (Also known as dread disease insurance.) An accelerated death benefit under which the insurer agrees to pay a portion of the policy’s face amount before the insured dies if the insured suffers from one of a number of specified diseases such as cancer, stroke, and heart attack. Process of converting the ownership of a mutual company (owned by its policyholders) to stock ownership. Number of deaths predicted to occur in a defined group of people. Association of Southeast Asian Nations. The reinsurance of annuities and corporate-owned life insurance. Amount payable at the death of the insured or at the maturity of the policy. Insurance risk that a reinsurer accepts (assumes) from a  ceding company. Reinsurance arrangement whereby the ceding company and  reinsurer agree that all business of a certain description will be ceded to the reinsurer. Under this arrangement, the ceding company assumes full underwriting responsibility for all business reinsured. A type of reinsurance in which the reinsurer makes an underwriting decision, to accept or decline, on each risk sent to it by the  ceding company.  (Also known as financially-motivated reinsurance, asset-intensive reinsurance, capital-motivated reinsurance or non-traditional  reinsurance.) Reinsurance designed to meet a financial objective of an insurer. For example, financial reinsurance can aid in an insurer’s tax  planning efforts or can provide capital in order to support an  insurer’s future growth. The provision of insurance and banking products and services through a common distribution channel and/or to the same client base. (Also known as financial reinsurance, financially motivated  reinsurance or non-traditional reinsurance.) Reinsurance designed to meet a financial objective of an insurer. For example, financial reinsurance can aid in an insurer’s tax  planning efforts or can provide capital in order to support an  insurer’s future growth. Direct insurer or reinsurer that passes on shares of its insured or reinsured risks to a reinsurer in exchange for premium. (Generally Accepted Accounting Principles) A set of financial accounting principles that U.S. and Canadian companies follow when preparing financial statements for reporting results to stockholders and, in Canada, to regulators. Insurance policy under which the lives of a group of people are insured in accordance with the terms of one master contract.  Demand on an insurer or reinsurer for payment under the terms  of an insurance policy. A form of reinsurance under which the ceding company shares its premiums, death claims, surrender benefits, dividends, and policy loans with the reinsurer and the reinsurer pays expense allowances to reimburse the ceding company for a share of its expenses. A measure of insurance in effect at a specific date. Insurance policy that is issued to insure the life of a named person or persons, rather than that of a group. Actual number of deaths occurring in a defined group of people. 87 THIS IS RGA. 2003 ANNUAL REPORT Mortality experience Individual life insurance In force sum insured Coinsurance Claim Cedant/Ceding company Group life insurance GAAP  Capital-motivated reinsurance Bancassurance Financial reinsurance Facultative reinsurance Automatic reinsurance Face amount Asset-intensive reinsurance Assumed reinsurance ASEAN Expected mortality Demutualization Annuity Critical illness insurance Actuary