Glossary entry

French term or phrase:

génération

English translation:

vintage

Added to glossary by Peter Field
May 28, 2020 15:55
3 yrs ago
31 viewers *
French term

génération

French to English Law/Patents Insurance
This word comes up several times in a retrocession treaty with a reinsurer of life insurance. Specifically, in the dividend (profit sharing clause):

La clause de participation aux bénéfices prévue à l’article xx du Traité est supprimée pour la génération 2001.

And again:

x et y acceptent de négocier de bonne foi une clause de participation bénéficiaire pour les générations 2002 et suivantes.

And Pour les années de génération 1996 à 1998 inclusivement, xx agira comme apériteur.

I think it might be referring to the profit generated but I'm not sure.

Thanks!
Change log

Jun 5, 2020 14:52: Peter Field Created KOG entry

Discussion

ph-b (X) May 28, 2020:
In the field of life (re)insurance, a "generation" (err... génération in French) means all the insureds born in a particular year (and not over 25 years, for instance). In your case, various conditions apply to the reinsurers of various "generations", as described in your question. Where it gets a bit more complicated is when "generation" is used in the usual sense. For instance, insurers are busy convincing the millenial generation to buy life insurance at the moment (currently, a seriously/worryingly under-insured generation, esp in the US and other countries where the state doesn't do much in terms of pensions). Sorry, off on a tangent. Back on track: try "would be to take all the births in a particular year (a generation)" in your preferred search engine and you'll find the source (too long here).
philgoddard May 28, 2020:
It could be profits or premiums, but surely it has to be generation in English.

Proposed translations

27 mins
Selected

vintage

"Année de génération" can be translated into English as "vintage year."
Example sentence:

"Le tableau ci-dessous donne le coût après amortissement et la juste valeur des titres par année de génération."

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2 KudoZ points awarded for this answer. Comment: "thanks for this suggestion"
+1
3 mins

Generation

il s'agit des personnes nées dans ces années, à mon avis.

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Note added at 4 mins (2020-05-28 15:59:56 GMT)
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https://www.wordreference.com/fren/génération

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Note added at 44 mins (2020-05-28 16:39:20 GMT)
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https://usiaffinity.typepad.com/alumni_insurance_program/201...
Peer comment(s):

neutral AllegroTrans : Your ref isn't related to insurance and doesn't substantiate your explanantion
37 mins
https://usiaffinity.typepad.com/alumni_insurance_program/201...
agree Youssef Chabat
3 days 18 hrs
Thank you Youssef.
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17 hrs

cohort

I think cohort is used more widely in insurance

https://dictionary.cambridge.org/dictionary/english/cohort

See here:
https://home.kpmg/xx/en/home/insights/2018/02/ifrs17-transit...

Group of insurance contracts (level of aggregation)

An insurer identifies portfolios of insurance contracts. It divides each portfolio into a minimum of:

a group of contracts that are onerous on initial recognition, if there are any;
a group of contracts that, on initial recognition, have no significant possibility of becoming onerous subsequently, if there are any; and
a group of any remaining contracts in the portfolio.

An insurer divides each portfolio into annual cohorts, or cohorts consisting of periods of less than one year.

Peer comment(s):

neutral ph-b (X) : I don't know whether one is used more widely than the other, but both exist in both languages and are synonymous in this context. So why not follow the source text?/"I have never seen..." OK. See discussion box.
1 hr
For the simple reason I have never seen "generation" used in this way/ context and I've translated and reviewed lots of insurance documents
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