Question

The following table shows the performance of Garage Insurance Company for the current and prior year
	Current Year	Prior Year
Net Written Premiums	174,424,780	204,354,576
Net Earned Premiums	138,550,030	164,892,997
Losses Incurred	79,255,459	97,184,368
Loss Adjustment Expenses Incurred	15,794,915	15,557,773
Other Underwriting Expenses	72,318,360	79,866,582
Dividends Paid to Policyholders	$                                       -	$                                                  -	No dividends paid to policyholders
Underwriting Income
Loss Ratio
Expense Ratio
Combined Ratio

Answer 1

The following table shows the performance of Garage Insurance Company for the current and prior year Current Year 17,44,24,780.00 13,85,50,030.00 7,92,55,459.00 Prior Year 20,43,54,576.00 16,48,92,997.00 9,71,84,368.00 Net Written Premiums Net Earned Premiums Losses incurred Loss Adjustment Expenses Incurred Other Underwriting Expenses Dividends Paid to Policyholders 1,57,94,915.00 1,55,57,773.00 7,23,18,360.00 7,98,66,582.00 No dividends paid to O policyholders Underwriting Income T L -2,88, 18,704.00 =C7-C8-C9-C10 -2,77,15,726.00 =D7-D8-D9-D10 Loss Ratio 0.59 0.57 =D8/D7 =C8/C7 | Expense Ratio 0.64 =(C9+C10/C7 0.58 =(D9+D10)/D7 Combined Ratio 1.17 1.21 '=(C8+C9+C10)/C7 =(D8+D9+D10)/D7