Nonledger Asset
Barron's Insurance Dictionary:
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Nonledger Assets
Assets of an insurer that are due and payable in the current year but have yet to be received by the insurer.
| Noninvestment Grade Bonds, Noninsured Driver, Noninsurance Transfer | |
| Nonliquid Assets, Nonmedical Life Insurance, Nonmedical Limit |
Investopedia Financial Dictionary:
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Nonledger Asset
Something of value owned by an insurance company that is not recorded in that company’s formal accounting records. Nonledger assets are basically money that an insurance company expects to receive but hasn’t actually received yet. Both ledger assets and nonledger assets are reported on the insurance company’s annual statement. In addition to reporting assets, this statement also reports the insurance company’s income, disbursements and liabilities for the year.
Investopedia Says:
An insurance company’s nonledger assets may consist of unpaid assessments, dividends due and accrued, interest due and accrued, and the market value of stocks owned in excess of their book values. Ledger assets include cash in a company’s office, cash in the bank but not reflected on the balance sheet, premiums due and the book value of notes, bonds and other securities.
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Barron's Insurance Dictionary
Dictionary of Insurance Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.
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