Work through the annual statement schedules and exhibits (Underwriting and Investment Exhibit, Schedule F, Schedule P, Statutory Page 14, 5-Year Historical Data), the Insurance Expense Exhibit, and the Statement of Actuarial Opinion, carrying out the calculations they support and using them to assess an insurer's condition.
Free CAS Exam 6-U.S. (Regulation and Financial Reporting) lesson in Financial Reporting, Taxation, and Professional Responsibilities of the Actuary. 16 min read, ~2,458 words.
The Underwriting and Investment Exhibit builds statutory underwriting gain; combined ratio = loss ratio + LAE ratio + underwriting expense ratio, with expenses divided by WRITTEN premium. Schedule F computes the provision for reinsurance, a surplus penalty for unsecured unauthorized recoverables and for overdue balances from slow-paying reinsurers. Schedule P...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- C2
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