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

Independent Financial Advisers (UK-Specific)

Independent experts who are authorised to sell or advise on the policies offered by insurance companies, as well as other financial service providers, such as banks and building societies.

Index-linked gilts

Index-linked gilts are sterling bonds issued by the Bank of England and listed on the London Stock Exchange, introduced to act as a hedge against inflation for pension funds.

Intangible Assets

Defined as separately identifiable, non-monetary assets without physical substance. Corporate intellectual property (items such as patents, trademarks, copyrights, business methodologies), goodwill and brand recognition are all common intangible assets in today's marketplace.

Investment Company with Variable Capital (ICVC)

An ICVC is an open-ended investment company, and another term for an OEIC (pronounced 'oik') as defined later in this glossary. The terms "OEIC" and "ICVC" are used interchangeably, with different investment managers favouring one over the other.

Investment trusts

An investment trust is a company whose business is to invest in other companies.