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English to Chinese translations [Non-PRO] Bus/Financial / reinsurance
English term or phrase:run off
As I mentioned earlier, I believe that there are dangers in looking at run-off entities as on-going companies that simply lack an underwriting and marketing function. In order to be successful, management must view the issues as business challenges. Many run-offs fail to deliver their stated objectives because they simply replicate the conditions which caused them in the first place. All too often I am reminded of a summer vacation when to break the boredom of the inevitable lazy day by the pool, I shipped the family off to see the local archaeological site. Gazing with awe at the magnificent ancient temple, I asked the guide, "How old are the ruins?". "2007 years," came the prompt reply. "But how can you be sure of the precise year?" I challenged with typical actuarial aplomb. "Oh," said the guide, "the leader of the team who excavated the ruins told us that they were 2000 years old – and that was 7 years ago".