The main aim in the Willis Towers Watson analysis of club report and accounts has been consistency. Although there are still variations between the way clubs report, we try as far as possible to compare 'like with like' and to apply the same approach year after year. We simplify and summarise certain aspects where information is available and adopt the same approach for all clubs.
A glossary of terms is provided below.
| Calls and Premiums | All calls (gross basis, including brokerage) |
| Reinsurance Premiums | All reinsurance premiums |
| Operating Expenses | All general management, administrative and audit expenses (not including claims management costs) |
| Operating Income | Calls, less reinsurance costs, less expenses |
| Gross Paid Claims | Paid gross claims, including Pool contributions (including claims management costs) |
| Net Paid Claims | Gross paid claims less reinsurance and Pool recoveries |
| Net Change in Provision for Claims | Change in net estimated outstanding claims |
| Net Incurred Claims | Net paid claims plus change in provision for claims |
| Technical Surplus (Deficit) | Operating Income less Net Incurred Claims |
| Investment Income | All investment income, including exchange gains/losses, tax etc |
| Overall Surplus for Year (Deficit) | Incurred technical surplus (deficit), plus investment income |
| Net Assets | Total assets, less creditors, less miscellaneous provisions for taxation etc |
| Net Outstanding Claims | Total net estimated outstanding claims |
| Free Reserves (Including Forecast Deferred Calls) | Net assets, less outstanding claims |
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