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You will follow it better if you can put an example together yourself. Create a triangle of paid claims, and perform a BCL on it. Then speed up...
Just to clarify Darshan's response... IBNER can be negative too, when reserves are over-estimated. IBNER is a component of IBNR, but often we say...
Please search the forums before posting! Hopefully this helps: https://www.acted.co.uk/forums/index.php?threads/x6-1ii.19848/
More straightforward than that! These are all 'units'. January: 1 policy sold, at double frequency (risk), so 2 units. February: 1 policy sold...
Google is your friend. Part (iii) of this question is not covered by the Core Reading, but other ways of generating answers are suggested in ASET.
Hi ACSBug As per the suggestion in the links above, the most efficient way to check what you're doing against the solution would be to look...
No missing steps, just stats of expected values, which says E[x]=int[xf(x)dx]
1. Most recent years are very undeveloped, and so little weight should be put on them as the experience to date is uncertain. 2. You may need to...
The loss ratio is constant. So if premiums are going up by 5% each year, then so will the outstanding claims at each subsequent year-end. Then...
If undiscounted reserves are used, reserves will be bigger which will make profits look smaller (bringing losses forward). So if profit...
Those entries of 37.2 and 18.2 are labelled 'change in UPR'. When you follow the calculation of the earned premium (ie written premium minus the...
https://actuaries.org.uk/qualify/examinations-handbook/
Full calculations are shown in ASET (2014-2017). Worth getting that because then you'll have all the other calcs and explanations to hand. If...
Also, I just want to add a little extra to what Katherine says above. The examiners' report is not necessary exactly what the examiners are...
I assume that you understand why the reduction is limited, as there are many reasons why insurers need to hold capital other than for volatility...