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.
'Leverage' is a US term that is also known as 'gearing'. Both express the extent to which any transaction is financed by debt from lenders as opposed to capital provided by the investor.
Libor and the OIS
These are two of the most important interest rates in the world. Libor is the London Interbank offered rate. The overnight index swap (OIS) is a broadly comparable rate in the US.
Provides the policyholder and their loved ones with financial protection by providing a cash lump sum if the policyholder were to die during the term of their policy.
Life (Lives) Assured
The person or persons named in the policy schedule or other contract document. The benefit under the policy will be payable on the death or survival to the policy's maturity of the relevant life assured.
A limited company is one in which the liability of the shareholders is limited to what they have put in to the company.
Lloyd's of London
Lloyd's of London is an international insurance market that controls and regulates the activities of the companies offering insurance services.
London Stock Exchange (LSE)
The primary stock exchange in the U.K. and the largest in Europe. Originated in 1773, the regional exchanges were merged in 1973 to form the Stock Exchange of Great Britain and Ireland, later renamed the London Stock Exchange (LSE). The Financial Times Stock Exchange (FTSE) 100 Share Index, or "Footsie", is the dominant index, containing 100 of the top blue chips on the LSE.
Long-term refinancing operations (LTRO)
The Long-term refinancing operations (LTRO) of the European Central Bank (ECB) are designed to provide stability to Europe's banking sector.