Ultimate Loss Ratio definition

Ultimate Loss Ratio. The ratio calculated by dividing Ultimate Losses by the total earned premiums related to the proportion of policies assumed by PRe under this Agreement.
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Ultimate Loss Ratio shall have the meaning set forth in Section 2.6(c).
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Ultimate Loss Ratio means, as of each Adjustment Date, the ratio, expressed as a percentage, of (a) the sum of (i) the amount of losses and allocated loss adjustment expenses paid by the Retrocessionaire in respect of the Group A Contracts, Group B Contracts and Group C Contracts from the Effective Date to the relevant Adjustment Date and (ii) the amount of case loss reserves and incurred but not reported loss reserves of the Retrocessionaire in each case computed in accordance with the IBNR factors set forth on Schedule 1.4 (unless otherwise agreed in writing by the parties) in respect of the Group A Contracts, Group B Contracts and Group C Contracts as of the relevant Adjustment Date to (b) the amount of the Reinsured Contract Premium for the Group A Contracts, Group B Contracts and Group C Contracts from the Effective Date to such Adjustment Date.
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Examples of Ultimate Loss Ratio in a sentence

  • Values of lump sum-based ratios for particular risks were established on the basis of information concerning average value of loss arising from the given risk.As at 30 June 2009 provision for losses arisen but not raised to the insurer (IBNR) yet, was calculated using Naive Loss Ratio ULR (Ultimate Loss Ratio) method which lies in establishing the value of loss on the only basis of expected loss-based ratio.

  • As a result of the Group’s prudent approach, the initial Loss Ratio booked in the financial results, the “Initial Booked Loss Ratio” for each Accident Year has historically always been higher than the initial best estimate of the Ultimate Loss Ratio for each Accident Year.

  • The latest best estimate of the Ultimate Loss Ratios is calculated on the basis of the estimated claims costs for each Accident Year as of 31 December 2012.2003200420052006Accident Year (as at 31 December 2012) Initial Booked Loss Ratio..................................................Difference between Initial Booked Loss Ratio and initial best estimate Ultimate Loss Ratio (percentage points)...Difference between Initial Booked Loss Ratio and latest best estimate Ultimate Loss Ratio (percentage points)...

  • The table below shows the difference between the Initial Booked Loss Ratio and the initial best estimate Ultimate Loss Ratios and also the Initial Booked Loss Ratio and the latest best estimate Ultimate Loss Ratio for the 2003–2012 Accident Years.

  • By comparing the expected Ultimate Cost of claims for each Accident Year against the net earned premiums associated with such Accident Year, it is possible to determine an “Ultimate Loss Ratio” for that accident year and thus also track the development of that Ultimate Loss Ratio over time.As noted in section 11.2 (Calculation of claims reserve) the Group takes a prudent approach to reserving and holds reserves in excess of Towers Watson’s latest independent actuarial best estimate.

  • The GRC (and the SRC with effect from 1 January 2022) reviews and considers the Group’s Claims Ultimate Loss Ratio (‘ULR’) projections so as to recommend to the SICL Board an appropriate ULR, on both a Gross and Net basis for each accident year, and its allocation to a year of account, both at the financial year end and at least quarterly intervals during the year.2. Market Risk SICL is exposed to market risk in relation to its investments.

  • Historically, and based on the latest best estimate Ultimate Loss Ratio projection for each Accident Year since 2003, the Group’s Initial Booked Loss Ratios have developed favourably for all Accident Years.

  • In the BF method, an adopted Ultimate Loss Ratio is then incorporated to arrive at the resultant Ultimate Loss Ratio, where the former is selected based on the historical claims experience, industry loss ratios as well as incurred claims ratios to-date.

  • The actuarial firm had considered the Ultimate Loss Ratio ("ULR") method for the estimation of IBNR claims for the Motor Act class which was completely run-off this year, while the Link Ratio method with a Bornhuetter- Ferguson ("BF") adjustment on a paid claims basis was considered for the rest of the business classes.

  • The key assumptions considered in the sensitivity analysis are as follows: • Initial Expected Loss Ratio (“IELR”) for accident year• Selected Ultimate Loss Ratio (“ULR”) The IELR is a parameter used in the Expected Claims Ratio and Bornhuetter-Ferguson methods.

Related to Ultimate Loss Ratio

  • Loss Ratio means the ratio (expressed as a percentage) of the total amount of losses on claims associated with insurance policies incurred during a specified period to premiums earned during such period. The loss ratio is a key measure of underwriting profitability and the quality of the insurance portfolio and is used for comparisons to industry benchmarks and internal targets.

  • Aggregate Loss Severity Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred on any Mortgage Loans from the Cut-off Date to the last day of the preceding calendar month and the denominator of which is the aggregate principal balance of such Mortgage Loans immediately prior to the liquidation of such Mortgage Loans.

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.

  • Loss Horizon Ratio means, as of any date of determination, a fraction (expressed as a percentage), (a) the numerator of which is the aggregate initial Unpaid Balance of all Receivables originated by each Originator during the immediately preceding four Settlement Periods then most recently ended and (b) the denominator of which is the Net Portfolio Balance as of the Cut-Off Date of the most recently ended Settlement Period.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Total Intrinsic Loss Estimate means the sum of the SF1-4 Intrinsic Loss Estimate in the Single Family Shared-Loss Agreement, and the Commercial Intrinsic Loss Estimate in the Commercial Shared-Loss Agreement, expressed in dollars.

  • Consolidated Excess Cash Flow means, for any period for the Consolidated Group, (a) net cash provided by operating activities for such period as reported on the audited GAAP cash flow statement delivered under Section 7.01(a) minus (b) the sum of, in each case to the extent not otherwise reducing net cash provided by operating activities in such period, without duplication, (i) scheduled principal payments and payments of interest in each case made in cash on Consolidated Total Funded Debt during such period (including for purposes hereof, sinking fund payments, payments in respect of the principal components under capital leases and the like relating thereto), in each case other than in connection with a refinancing thereof, (ii) Consolidated Capital Expenditures made in cash during such period that are not financed with the proceeds of Indebtedness, an issuance of Capital Stock or from a reinvestment of Net Cash Proceeds referred to in Section 2.06(b)(ii), (iii) optional prepayments of Funded Debt during such period (other than prepayments of Revolving Loans owing under this Credit Agreement (unless, in the case of a prepayment of Revolving Loans, there is a simultaneous reduction in the Aggregate Revolving Commitments in the amount of such prepayment pursuant to Section 2.07) and other such optional prepayments made with the proceeds of other Indebtedness), (iv) to the extent not financed with the incurrence or assumption of Indebtedness or proceeds from an issuance of Capital Stock, Subject Dispositions, Specified Dispositions or Involuntary Dispositions, cash sums expended for Investments pursuant to Sections 8.02(c), (i), (j), (k) (other than with respect to any amount expended on such Investments through the use of the Cumulative Credit) or (v) during such period, (v) without duplication of amounts deducted from Consolidated Excess Cash Flow in prior periods, the aggregate consideration required to be paid in cash by the Borrower or any Subsidiary pursuant to binding contracts (the “Contract Consideration”) entered into prior to or during such period relating to Consolidated Capital Expenditures to be consummated or made during the three months following the end of such period, provided that to the extent the aggregate amount of internally generated cash actually utilized to finance such Consolidated Capital Expenditures during such three months is less than the Contract Consideration, the amount of such shortfall shall be added to Consolidated Excess Cash Flow for the period following such period and (vi) to the extent such amounts increased net cash provided by operating activities in such period, funds collected by the Borrower or any of its Subsidiaries on behalf of clients of the Borrower or any of its Subsidiaries representing the face amount of tickets sold plus (c) to the extent such amounts decreased net cash provided by operating activities in such period, funds remitted by the Borrower or any of its Subsidiaries to clients of the Borrower or any of its Subsidiaries representing the face amount of tickets sold.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Consolidated Rent Expense means, with reference to any period, all payments under Operating Leases to the extent deducted in computing Consolidated Net Income, calculated in accordance with GAAP for the Borrower and its Subsidiaries on a consolidated basis for such period.

  • Shared-Loss Quarter has the meaning provided in Section 2.1(a)(i) of this Commercial Shared-Loss Agreement.

  • Consolidated Net Loss for any fiscal period, means the amount which, in conformity with GAAP, would be set forth opposite the caption "net income" (or any like caption), as the case may be, on a consolidated statement of earnings of the Borrower and its Subsidiaries, if any, for such fiscal period.

  • Consolidated Revenues means, for any period, the consolidated net revenue of the Company and the Restricted Entities for such period determined in accordance with GAAP.

  • Consolidated Revenue means for any period the total revenues of the Company and its Subsidiaries, determined in accordance with GAAP.

  • Consolidated Adjusted EBITDA means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Operating Loss means a negative Operating Profit.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash, cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by (whether directly or indirectly), credited to the account of, or otherwise reflected as an asset on the balance sheet of, the Parent MLP and its Consolidated Subsidiaries.

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • First Loss Tranche means the dollar amount of liability that the Assuming Bank will incur prior to the commencement of loss sharing, which is the sum of (i) the Assuming Bank’s asset premium (discount) bid, as reflected on the Assuming Bank’s bid form, plus (ii) the Assuming Bank’s Deposit premium bid, as reflected on the Assuming Bank’s bid form, plus (iii) the Equity Adjustment. The First Loss Tranche may be a positive or negative number.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Consolidated Cash Flow means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Consolidated Operating Cash Flow means, with respect to the Company and its Subsidiaries on a consolidated basis, for any period, an amount equal to Consolidated Net Income for such period increased (without duplication) by the sum of:

  • Cumulative Loss Amount means the sum of the Monthly Loss Amounts less the sum of all Recovery Amounts.