| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | | English term or phrase: | emerging surpus + "Value in Force securitisation" | | Chinese translation: | 未来盈余，现有保单价值证券化 | | Entered by: | Sam Q |
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English to Chinese translations [PRO]
Insurance | | English term or phrase: emerging surpus + "Value in Force securitisation" | | Could anyone please help me with the term "emerging surpus "? It reads like "Life insurance companies may raise capital on the basis of an emerging surplus (Embedded Value, or EV) in their books through a Value in Force (VIF) securitisation." Many thanks!! |
| Sam QKudoZ activityQuestions: 147 ( 1 open) ( 2 without valid answers) Answers: 0
United Kingdom
| | Local time: 02:50
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| | 未来盈余，现有保单价值证券化 | Explanation:
emerging surplus（即Embedded Value，内含价值）应指保险公司的现有保单的未来利润的现值，粗略相当于续期保费+已收保费的投资收益-支付的保险费
value in force 是指in force的保单（即现有生效保单）的现值，
value in force securitisation即对这种现值的证券化，换言之，将未来利润折现成当前值后发行证券卖给投资者，这样就可以把未来的收益转换为当前收益。
美国的次级债危机就是securitisation玩大了，结果未来收益估计过高（穷人还不起贷款），抵消不了次级债的发行规模而崩溃的。 |
| Selected response from:
LoyalTrans
China
Local time: 10:50
| Grading comment agree thanks!!
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