Our glossary explains technical terms from the areas finance and reinsurance. We hope it facilitates the understanding of our texts, publications and annual reports. If you have comments or suggestions, please use our feedback form!
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Global Reporting Initiative (GRI)
Working together with numerous stakeholder groups, the Global Reporting Initiative develops global guidelines for the preparation of sustainability reports by companies, governments and NGOs. Its aim is to create the greatest possible level of transparency and standardisation so as to facilitate comprehensive comparability.
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Goodwill
the excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired and liabilities assumed.
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Gross/Retro/Net
gross items constitute the relevant sum total deriving from the acceptance of direct insurance policies or reinsurance treaties; retro items constitute the relevant sum total deriving from own reinsurance cessions. The difference is the corresponding net item (gross – retro = net, also: for own account).
