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20:55 Nov 14, 2013
German to English translations [PRO] Bus/Financial - Accounting / Swiss insurance vs. reinsurance accounting
German term or phrase:offene Abrechnungsperiode
Abrechnungsverbindlichkeit aus dem Rückversicherungsgeschäft(1)
Hier handelt es sich um die ***offene Abrechnungsperiode mit der Rückversicherung***.
Per Ende 2011 besteht ein Rückversicherungsvertrag mit der .
Does this mean the above item(1) is about a liability owed by the annual financial statements' reporting entity (a large business/AG from the insurance industry) to the reinsurance company - that (and now the time element comes into the picture ...?)
-> "This concerns the period for which the settlement liability owed to the reinsurance company has been outstanding"?