Facultative reinsurance is a type of reinsurance that covers individual risks owned by a primary insurer, offering more focused and specific coverage compared to treaty reinsurance.
Recurring revenue is the reliable income portion of a company's revenue that is expected to continue in the future, akin to having a subscription to good fortune!
A zero-gap condition describes a perfect balance in interest-rate-sensitive assets and liabilities within a financial institution, ensuring stability against interest rate changes.