What is the Definition of Admitted Assets?
Assets recognized and accepted by state insurance laws in determining the solvency of insurers and reinsurers. To make it easier to assess an insurance company’s financial position, state statutory accounting rules do not permit certain assets to be included on the balance sheet. Only assets that can be easily sold in the event of liquidation or borrowed against, and receivables for which payment can be reasonably anticipated, are included in admitted assets.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Admitted Assets?
Check out other definition of insurance terms below:
What is the Meaning of PRIMARY COMPANY In Insurance Terms?
In a reinsurance transaction, the insurance company that is reinsured.
What is the Meaning of PRIMARY MARKET In Insurance Terms?
Market for new issue securities where the proceeds go directly to the issuer.
What is the Meaning of PRIME RATE In Insurance Terms?
Interest rate that banks charge to their most creditworthy customers. Banks set this rate according to their cost of funds and market forces.
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