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    Types: TextFile
    Names: »INSUR.MOD«

└─⟦6ae1c04a5⟧ Bits:30004364 SW1656 IFPS/Personal Version 2.10 release 1.1
    └─ ⟦this⟧ »INSUR.MOD« 

TextFile

COLUMNS 1985..1989
ØØ
ØØ This model calculates Line of Business Financials
ØØ for any product line and generates a 5 year view
ØØ of the operations potential.
ØØ
ØØ DATA FOR CALCULATIONS:
ØØ
ØØ
AGENCY FORCE=NUMBER OF AGENTS*AGENTS GROWTH RATE,'
             PREVIOUS * AGENTS GROWTH RATE
AGENTS CONTRIBUTION=PREMIUMS PER AGENT*PREMIUM GROWTH RATE
GROSS WRITTEN PREMIUMS=AGENCY FORCE*AGENTS CONTRIBUTION        
GROSS EARNED PREMIUMS=EARNED PREMIUM PCT*GROSS WRITTEN PREMIUMS
ØØ
MARKET SHARE=GROSS WRITTEN PREMIUMS/INDUSTRY PREMIUMS
INDUSTRY PREMIUMS=LAST YEARS PREMIUMS/CURRENT MARKET SHARE, '
                  PREVIOUS*INDUSTRY GROWTH RATE
LAST YEARS PREMIUMS=LAST YEARS WRITTEN PREMIUMS,'               
                    PREVIOUS GROSS WRITTEN PREMIUMS
ØØ
COMMISSIONS=COMMISSIONS PCT*GROSS WRITTEN PREMIUMS
OTHER UNDERWRITING EXPENSES=OTH UNDERWRITING EXPENSE PCT* '     
                            GROSS WRITTEN PREMIUMS
ALLOCATED CORP OVERHEAD=ALLOCATED CORP OVERHEAD PCT*GROSS WRITTEN PREMIUMS
TOTAL EXPENSES=COMMISSIONS+OTHER UNDERWRITING EXPENSES+'
               ALLOCATED CORP OVERHEAD
ØØ
INCURRED LOSSES=LOSS RATIO*GROSS EARNED PREMIUMS
GROSS GAIN OR LOSS=GROSS EARNED PREMIUMS-COMMISSIONS- '      
 OTHER UNDERWRITING EXPENSES-ALLOCATED CORP OVERHEAD-INCURRED LOSSES
ØØ
ØØ GAAP RESULTS
ØØ
YEAR 5 LOSS PAYOUT PCT=LOSS PAYOUT PCT Æ5Å              
YEAR 4 LOSS PAYOUT PCT=LOSS PAYOUT PCT Æ4Å
YEAR 3 LOSS PAYOUT PCT=LOSS PAYOUT PCT Æ3Å
YEAR 2 LOSS PAYOUT PCT=LOSS PAYOUT PCT Æ2Å
YEAR 1 LOSS PAYOUT PCT=LOSS PAYOUT PCT,PREVIOUS
ØØ
PAYMENT OF PAST LOSSES= '
     YEAR 2 LOSS PAYOUT PCT * FUTURE 4 PAST LOSSES * (PAST INFL RATE**2)+'
     YEAR 3 LOSS PAYOUT PCT * FUTURE 3 PAST LOSSES * (PAST INFL RATE**3)+'
     YEAR 4 LOSS PAYOUT PCT * FUTURE 2 PAST LOSSES * (PAST INFL RATE**4)+'
     YEAR 5 LOSS PAYOUT PCT * FUTURE 1 PAST LOSSES * (PAST INFL RATE**5)
PAYMENT OF CURRENT LOSSES= '
     YEAR 1 LOSS PAYOUT PCT * INCURRED LOSSES * INFLATION + '    
     YEAR 2 LOSS PAYOUT PCT * PREVIOUS INCURRED LOSSES *(INFLATION**2)+ '
     YEAR 3 LOSS PAYOUT PCT * PREVIOUS 2 INCURRED LOSSES *(INFLATION**3)+ '
     YEAR 4 LOSS PAYOUT PCT * PREVIOUS 3 INCURRED LOSSES *(INFLATION**4)+ '
     YEAR 5 LOSS PAYOUT PCT * PREVIOUS 4 INCURRED LOSSES *(INFLATION**5)
ØØ
LOSSES PAID OUT=PAYMENT OF PAST LOSSES + PAYMENT OF CURRENT LOSSES
TAIL OF CURRENT=PAYMENT OF CURRENT LOSSES-CURRENT LOSSES PAID OUT
CURRENT LOSSES PAID OUT=YEAR 1 LOSS PAYOUT PCT * INCURRED LOSSES
PAID LOSS AND ALLOC LOSS EXP=LOSSES PAID OUT                               
CASH SURPLUS=INITIAL SURPLUS+NET EARNINGS,PREVIOUS+NET EARNINGS
ØØ
NET INVESTMENT INCOME=ALLOCATED CORP INVESTMENT INCOME
UNDERWRITING EARNINGS=GROSS WRITTEN PREMIUMS-TOTAL EXPENSES - '
                      PAID LOSS AND ALLOC LOSS EXP
NET EARNINGS=UNDERWRITING EARNINGS+NET INVESTMENT INCOME
ØØ
ØØ KEY INDICATORS
ØØ
PREMIUM TO SURPLUS=GROSS WRITTEN PREMIUMS/CASH SURPLUS
RETURN ON PREMIUM=NET EARNINGS/GROSS WRITTEN PREMIUMS
COMBINED RATIO=LOSS RATIO+COMMISSIONS PCT+UNDERWRITING RATIO       
UNDERWRITING RATIO=(OTHER UNDERWRITING EXPENSES+ALLOCATED CORP OVERHEAD)/'
                   GROSS WRITTEN PREMIUMS
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