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Principles of Risk Management and Insurance, 13th Edition by Michael McNamara, George E. Rejda

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Life Insurance Companies

Balance Sheet

The balance sheet for a life insurance company is similar to the balance sheet of a property and casualty insurance company. The discussion that follows focuses on the major differences.

Assets

Like the property and casualty insurance companies discussed earlier, the assets of a life ­insurance company are primarily financial assets. However, there are three major differences between the assets of a property and casualty insurance company and the assets of a life insurance company. The first major difference is the average duration of the investments. The matching principle states that an organization should match the maturities of its sources and uses of funds. Most property and casualty insurance contracts ...

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