| A | Description |
|---|---|
| Acquisition Cost | Includes commissions and compensations paid to agents as well as fees paid to Financial Institutions for the use of their facilities (UOF). |
| Acquisition Ratio | Acquisition Cost ÷ Net Written Premiums. |
| AMDA | Mexican Association of Automotive Distributors. |
| C | Description |
|---|---|
| CAGR | Compound Annual Growth Rate. |
| Combined Ratio | Acquisition Ratio + Operating Ratio + Loss Ratio. |
| CNSF | National Insurance & Bonds Commission, the regulator of the insurance sector in México. |
| E | Description |
|---|---|
| ESG | Environmental, Social, and Governance. |
| F | Description |
|---|---|
| Financial Institutions | Financial branch of major automakers and Financial Groups that provide automotive financing. |
| L | Description |
|---|---|
| Loss Cost | Includes costs incurred in the payment of claims: third party liability, theft, repair costs, among others. |
| Loss Ratio | Loss Cost ÷ Net Earned Premiums. |
| M | Description |
|---|---|
| Multi-annual Policies | Policies with a term greater than 12 months. They are typically issued for the automobiles sold on credit. |
| N | Description |
|---|---|
| Net Earned Premiums | Written premiums registered as income throughout the duration of a policy. |
| Net Margin | Net income ÷ Written Premiums |
| Net Written Premiums | Written premiums less the portion ceded to reinsurance. |
| O | Description |
|---|---|
| Operating Expenses | Includes expenses incurred by the company in its regular operations. |
| Operating Ratio | Operating Expenses ÷ Net Written Premiums. |
| Operating Margin | Operating Income ÷ Earned Premiums |
| OCRA | Office for the Coordination of Insured Risks. |
| P | Description |
|---|---|
| Policies’ Fees | Administrative fee charged when the policy is issued and recorded as an income in operating expenses. |
| PTU | Employee profit sharing. |
| Premium Debtor | Records the portion of sold policies which will be paid in installments. |
| Premiums Surcharge | Financial penalty imposed to policyholders that choose to pay premiums in installments. |
| Q | Description |
|---|---|
| Q Col | Quálitas Colombia. |
| Q CR | Quálitas Costa Rica. |
| Q MX | Quálitas México. |
| Q ES | Quálitas El Salvador. |
| Q P | Quálitas Perú. |
| QIC | Quálitas Insurance Company. |
| Q S | Quálitas Salud. |
| R | Description |
|---|---|
| Regulatory Equity Requirement | The minimum equity level that an insurance company should maintain, according to legal requirements. |
| S | Description |
|---|---|
| Solvency Margin | Stockholders’ equity – Regulatory Equity Requirement. |
| Solvency Margin Ratio | Solvency Margin ÷ Regulatory Equity Requirement. |
| U | Description |
|---|---|
| UOF | Fees paid to Financial Institutions for the use of their facilities. |
| W | Description |
|---|---|
| Written Premiums | Premiums corresponding to policies underwritten. |
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