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Funds preserved for contigency needs...... Not only in business, also with individuals life, this is very important..
I think it is the resources (monetary or otherwise) which you save for backup plans which handle anticipated (and probably unanticipated) risks.
Percentage of total surplus retained, in insurance company operations, which serves as a reserve to cover unexpected losses as well as to cover the shortfall if the earned surplus in a particular year is not adequate to maintain a company’s announced dividend scale for participating policies.
