Underwriting loss definition
Underwriting loss means the amount by which the Company’s share of retained ultimate net losses exceeds its share of retained net book premium.
Underwriting loss has the meaning set forth in Article II(B)(1) hereof.
Underwriting loss has the meaning given in clause 10.9(d);
Examples of Underwriting loss in a sentence
YEAR ENDED DECEMBER 31, 2000 ----------------- ($ IN MILLIONS) Net premiums written $ 7 Net premiums earned 51 Underwriting loss (10) USE OF ESTIMATES These combined statements include estimates and assumptions that have an effect on the amounts reported.
More Definitions of Underwriting loss
Underwriting loss means the ratio of (A) gross loss from insurance operations, including all fees, before taxes, but excluding all investment income, to (B) earned premium, as calculated by the Company's Chief Financial Officer based on the Company's internally prepared financial statements for the applicable fiscal year. Underwriting Loss will be derived from the Company's internally prepared financial statements in accordance with the Company's past practices (which will be prepared in accordance with GAAP), and be certified in writing by the Company's Chief Financial Officer.