AXA Group (2008)
Notes to the Consolidated Financial Statements of AXA Group [extract]
1.18. Revenue Recognition [extract]
1.18.1. Gross written premiums
Gross written premiums correspond to the amount of premiums written by insurance and reinsurance companies on business incepted in the year with respect to both insurance contracts and investment contracts with discretionary participating features, net of cancellations and gross of reinsurance ceded. For reinsurance, premiums are recorded on the basis of declarations made by the ceding company, and may include estimates of gross written premiums.