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

GDP

Gross domestic product (GDP) is a measure of the total amount of goods and services produced by a country in a specific period of time, usually a year or a quarter.

Gearing

Gearing (or leverage) is the relationship between the debt and the equity in a business – between borrowed money and shareholders' money.

Gift with Reservation (UK-Specific)

A gift where the donor continues to enjoy the benefits of the gift. A gift with reservation will remain within the donor's estate for inheritance tax purposes.

Gilt

A gilt-edged security (gilt) is a government bond – a security or stock issued by the government paying a fixed rate of interest and redeemable on a set date for a set amount.

Gilt yield

Gilt yields express the return on a gilt as an annual percentage.