YOU ASK:

What is the definition of Written Premiums?

WE ANSWER:

Written Premiums refer to premiums that are to be paid to the insurance company for the duration or life of the insurance policy. This means, the total amount of premiums that a policyowner has to pay for his policy.

Written premiums can either be recorded as gross written premiums or net written premiums. The total premiums paid and due (gross written premiums) provide a good indication of the size of the insurance company. Net premiums written refer to the premiums once the reinsurance premiums and other related costs are deducted. The reinsurance company receives a portion of the premiums depending on the portion of risk it is willing to take on.

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