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10:21 Jul 27, 2001
Spanish to English translations [PRO] Bus/Financial
Spanish term or phrase:Exteriorización (doubts)
In the crisis situation confronting European welfare, "exteriorización" (outsourcing) is a common buzzword. But how does this tie in: "Las dos vías de exteriorización: Seguros de vida y Planes de pensiones"? Its the title of a seminar, and I can understand outsourcing of pension schemes, but what life insurance has been outsourced here in relation to the existing Social Security system? (Spanish context).
Explanation: What is being "exteriorised" here (not outsourced) is usually a company fund for staff pensions/life insurance. The law in Spain is forcing companies to "exteriorise" these funds and put them into hands of management companies (often insurers) with input from the beneficiaries. I speak from 3 years' experience as in-house translator in an insurance company. Regret no references, but hope this helps.
MargaBBB Local time: 16:53 Native speaker of: English PRO pts in pair: 28