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What does OB mean in insurance

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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