Zillmerisation relates to valuing a Life insurer by an actuary in the UK.
Even if profitable business is written, the value of the company may worsen (when viewed from a regulatory basis) because of what is called New Business Strain. This is where the outgo (such as commission, expenses, reserves, etc.) will take place initially and thus hit the company's financial position, but the income (premiums, investment income, etc.) have not yet occurred and thus can not be taken into account in supporting their financial position.
The process of 'Zillmerisation', or 'applying a Zillmer adjustment' involves creating a notional asset out of future premiums to the extent they will be used to pay back the initial expense outlay. This helps to ease the initial New Business Strain. Over time, the Zillmer asset is amortised as the initial expenses are effectively recouped.
There are several ways of creating such an asset, and Zillmerisation is just one.
(http://www.answers.com/zillmerisation)


English-Russian Insurance Dictionary:
zillmerisation - распределение премии по методу Цильмера
zillmerise - распределить премию по методу Цильмера
(http://belvneshstrakh.by/eng/index.php3?page=im&letter=Z)


"Osnove životnog osiguranja
...
Zillmerizirana rezerva
Kako osiguravatelji moraju u premije uračunati i vlastite troškove (početne, periodične i administrativne) oni tipično zaračunavaju bruto premije u kojima su ti troškovi uključeni. Ako uključimo ove troškove i u izračun pričuve govorimo o Zillmeriziranoj rezervi."
(http://web.math.hr/~bbasrak/pdf_files/UvodAM3.pdf)

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Note added at 4 hrs (2006-04-05 11:10:48 GMT)
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ili:
- rasporediti/razdijeliti (premiju) po metodi Zillmera
- primjeniti metodu Zillmera
...

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Note added at 10 hrs (2006-04-05 17:28:48 GMT)
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ili: cilmerizirati

http://web.math.hr/~bbasrak/pdf_files/UvodAM1.pdf
http://public.carnet.hr/HAD/rjecnik.htm