Gross Written Premium

(1) In relation to a Contract of Insurance, the amount of premium payable by the insured in respect of that contract, excluding any excise taxes levied on premiums and receivable by the Insurer but without any deduction for commissions or other acquisition expenses; and
(2) in relation to an Insurer during a period:
(A) in respect of General Insurance Business, the aggregate amount of Gross Written Premium in respect of insurance and reinsurance contracts entered into by the Insurer as Insurer during that period, together with any adjustments arising in that period in respect of contracts effected in previous periods; and
(B) in respect of Long Term Insurance Business, the aggregate amount of Gross Written Premium becoming due for payment in that period.

Derived from QFCRA RM01/2006 (as from 1st October 2006).