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What does OB mean in insurance

Looking at client bank statements, payments to insurance companies are described as OB.  What does this term mean?  Is it relevant to tax?

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12th Jan 2011 11:57

OB ???

Payments to Offshore Bond perhaps

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By 0705736
12th Jan 2011 12:00

Ordinary Branch?

I assume this stands for Ordinary Branch.  This I think applies to life policies etc. (not general insurance) and distinguishes "ordinary business" from "industrial branch" policies.  The latter are small value policies sold door-to-door as opposed to ordinary branch business where the premium is paid by D/D mostly.

I don't think there are any tax inplications in the OB designation.

I have to say I'm not an expert on these things.

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12th Jan 2011 19:06

Yes Ordinary Branch

Although the respondent above is not confident, he or she is absolutely correct - OB is the opposite of IB (the man from the Pru.... which is where my OH worked for years!).

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