Government Finance Statistics Manual 2014

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412 Government Finance Statistics Manual 2014


Premiums, fees, and claims
payable related to nonlife
insurance and standardized
guarantee schemes

Premiums, fees, and claims payable related to nonlife insurance and standard-
ized guarantee schemes include nonlife insurance premiums payable to insurance
schemes/corporations to secure entitlement to insurance against risks, claims pay-
able by insurance schemes to benefi ciaries, and fees payable to obtain standard-
ized guarantees .........................................................................................................6.125
Premiums, fees, and claims
receivable related to nonlife
insurance and standardized
guarantee schemes

Premiums, fees, and claims receivable related to nonlife insurance and standard-
ized guarantee schemes comprise nonlife insurance premiums receivable by insur-
ance schemes to provide entitlement to insurance against risks; claims receivable
from insurance schemes by benefi ciaries; and fees receivable for the issuance of
standardized guarantees .........................................................................................5.149
Premiums, fees, and current
claims payable

Premiums, fees, and current claims payable comprise nonlife insurance premiums
expense and fees payable for the issuance of standardized guarantees, as well as
insurance settlement expense that is not exceptional .........................................6.125
Premiums, fees, and current
claims receivable

Premiums, fees, and current claims receivable comprise nonlife insurance pre-
mium revenue and fees receivable for the issuance of standardized guarantees, as
well as insurance settlement revenue that is not exceptional ............................5.150
Present value Present value is the value today of a future payment or stream of payments dis-
counted at some appropriate compounded interest rate ......................................7.33
Primary income account Th e primary income account shows primary income fl ows between resident and
nonresident institutional units .............................................................................A7.82
Production measure of gross
domestic product

Th e production measure of gross domestic product is defi ned as gross value added
plus any taxes minus subsidies on products not already included in the value of
output .......................................................................................................................A7.24
Profi ts of fi scal monopolies Profi ts of fi scal monopolies cover that part of the profi ts of fi scal monopolies that
is transferred to the government. Fiscal monopolies are public corporations, pub-
lic quasi-corporations, or government-owned unincorporated enterprises that
have been granted a legal monopoly over the production or distribution of a par-
ticular kind of good or service in order to raise revenue and not in order to further
the interests of public economic or social policy ..................................................5.63
Property expense Property expense is the expense payable to the owners of fi nancial assets or natu-
ral resources when they put them at the disposal of another unit ....................6.108
Property expense for invest-
ment income disbursements

Property expense for investment income disbursements includes property income
attributed to insurance policyholders, pension entitlements, and holders of invest-
ment fund shares .....................................................................................................6.113
Property income Property income is the revenue receivable in return for putting fi nancial assets
and natural resources at the disposal of another unit .........................................5.107
Property income from invest-
ment income disbursements

Property income from investment income disbursements includes property
income attributed to insurance policyholders and holders of investment fund
shares .........................................................................................................................5.120
Provident funds Provident funds are compulsory saving schemes that maintain the integrity of the
contributions for individual participants .............................................................2.148
Public corporations
subsector

Th e public corporations subsector consists of all resident corporations controlled
by government units or by other public corporations ........................................2.104
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