Association of International Life Offices
Representing the cross-border life industry
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Glossary

Not sure about a name or phrase used in our documentation or website? Or perhaps you’ve come across some financial terminology elsewhere that you’re not familiar with? Find out its meaning in our glossary below and if there is a word not in there you think needs adding please do contact us.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Aim

The Alternative Investment Market (Aim) was first established in 1995 by the London Stock Exchange as a way for newer firms to gain access to public funds. It has less demanding entry criteria than those applied to companies wanting to join the LSE Official List.

Alpha

Alpha (which is also known as the 'alpha coefficient') is a way of analysing the value that an active fund manager – i.e. one who tries to beat the benchmark rather than just track it – adds to his or her fund.

Annuity

An annuity is a product that can provide a lifetime income, typically on retirement. A lump sum is paid to an insurance company and regular payments are received in return.