Okuzeka
Insurance vocabulary · Insurance Market & Finance

Non-life insurance

Meaning in insurance, with examples

nounCore term

In insurance, non-life insurance means: All types of insurance other than life insurance, such as motor, property, liability, health and travel insurance.

In Turkish: hayat dışı sigorta, elementer sigorta

How it is used

A standard way to divide the market, used in statistics, licences and company names. In the UK and Europe it is also called 'general insurance', and in the US 'property and casualty'. In Turkey health insurance is reported as a non-life branch.

Example sentences

  1. Non-life insurance premiums grew faster than life premiums last year.

  2. She moved from a non-life insurance company to a life insurer.

Common collocations

  • non-life insurance company
  • non-life premiums
  • non-life market
  • non-life branch
  • life insuranceInsurance that pays a sum of money to the named beneficiaries when the insured person dies, and in some products also builds up savings.
  • P&CProperty and casualty: the US term for insurance that protects property and covers legal liability, such as car, home and business insurance.
  • property insuranceInsurance that covers buildings, equipment, stock and other physical assets against damage or loss from events such as fire, flood, storm and theft.
  • gross written premiumThe total premium from all policies an insurer writes in a period, before the share passed to reinsurers is deducted.

More terms: Insurance Market & Finance

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This page explains English vocabulary for learners. It is not financial advice.